feUSD feUSDPrice $ 1.00

feUSD (feUSD) is a decentralized, over-collateralized stablecoin native to the Felix protocol on the Hyperliquid. Users can mint feUSD by depositing supported collateral assets such as HYPE, PURR, BTC, ETH, and SOL, allowing them to access liquidity without selling their holdings. This system maintains exposure to underlying assets while providing a dollar-pegged token for trading, saving, and on-chain payments. Because feUSD is fully backed by on-chain assets and operates without off-chain dependencies, it offers users a censorship-resistant and transparent stablecoin alternative.

Felix also features Stability Pools where users can deposit feUSD to earn passive income. These pools are matched to specific collateral types and distribute 75% of borrower interest to depositors, while also offering liquidation profits from undercollateralized positions. As such, feUSD holders not only preserve value but can earn yield through automated mechanisms, including compounding of liquidation proceeds.