Felix feUSD (FEUSD) stablecoin analytics
feUSD is Felix Protocol's Liquity-v2-fork dollar on Hyperliquid, minted from overcollateralized CDPs against HYPE, kHYPE, wstHYPE, and bridged BTC.
Static Profile
Static stablecoin profile
Felix feUSD (FEUSD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Jun 3, 2026
feUSD is a Liquity-v2-fork CDP dollar on Hyperliquid, overcollateralized by HYPE ecosystem tokens — concentrated chain risk, sturdy redemption mechanics. Felix Protocol cloned Liquity V2 onto Hyperliquid's unproven L1 and loaded the CDPs with HYPE and its liquid-staking...
AI summary · drafted by claude-opus-4-8 · reviewed by @TokenBrice on Jun 3, 2026 · facts as of Jun 3, 2026
- Collateral
- HYPE, kHYPE, wstHYPE, and UBTC (feUBTC) via overcollateralized CDPs on Hyperliquid (Liquity V2 fork); the live adapter reports four active branches
- Peg Mechanism
- Overcollateralized CDP (Liquity V2 fork) with direct redemption for $1 of collateral; interest-rate-sorted redemption queue (lower-rate positions redeemed first); stability pools absorb liquidations
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 2 deployments tracked across HyperEVM and Hyperliquid L1.
Snippet Answer
Is FEUSD safe?
Pharos does not mark FEUSD as absolutely safe. Static metadata says Felix feUSD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety feusd-felix
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Jun 3, 2026.
FEUSD quick answers
What is Felix feUSD (FEUSD)?
feUSD is Felix Protocol's Liquity-v2-fork dollar on Hyperliquid, minted from overcollateralized CDPs against HYPE, kHYPE, wstHYPE, and bridged BTC. The static profile records its US Dollar peg mechanism as: Overcollateralized CDP (Liquity V2 fork) with direct redemption for $1 of collateral; interest-rate-sorted redemption queue (lower-rate positions redeemed first); stability pools absorb liquidations
What backs FEUSD?
Pharos classifies FEUSD backing as Crypto-Collateralized. Collateral, per the static profile: HYPE, kHYPE, wstHYPE, and UBTC (feUBTC) via overcollateralized CDPs on Hyperliquid (Liquity V2 fork); the live adapter reports four active branches Reserve evidence: live reserve feed configured.
Can FEUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for FEUSD, when applicable, appear in the dossier below.