Felix Launches Frontier Vaults for Higher Yield Stablecoin Lending
Felix Launches Frontier Vaults for Higher Yield Stablecoin Lending
🚀 Frontier Vaults Just Dropped
Felix Vanilla introduces Frontier Vaults, a new offering for stablecoin lenders seeking higher yields through more exotic collateral markets. Key updates:
- New collateral options including UETH, hwHLP, and WHLP
- Increased LTV of 77% for kHYPE and HYPE (up from 62.5%)
- Support for hbUSDT and PT-hbUSDT looping strategies
- Risk-segmented lending pools via Morpho protocol
Felix Vanilla has already attracted $550M in deposits, primarily used for:
- Looping on various HYPE-related assets
- Borrowing for perps trading
- DeFi farming activities
Visit Felix Vanilla to explore the new Frontier Vaults.
Introducing Felix Frontier On Hyperliquid, stablecoin holders are hungry for new ways to generate yield. The primary venues for this thus far have been lending, the basis trade, and HLP As a part of Felix Vanilla, we are now rolling out Frontier Vaults, which offer higher yield
Felix Vanilla has crossed $550M in deposits. Users are utilizing Felix Vanilla to power a number of key activities: ∙ Loop on kHYPE, kHYPE PTs, and stHYPE ∙ Loop on yield bearing dollar assets like hwHLP and wHLP ∙ Borrow stables to unlock perps trading against HYPE / UBTC
kHYPE PTs are now live on Felix Vanilla for looping and stablecoin borrowing. What are kHYPE PTs? kHYPE PTs allow kHYPE users to buy kHYPE at a discount relative to the market price which can then be thought of as a fixed yield in kHYPE terms. This is ideal for users who want to
kHYPE Loop Strategy Delivers 1.10% Carry Per Leverage Unit on Felix
Felix has released a detailed breakdown of the kHYPE leveraged staking loop on HyperEVM, showing current returns across different risk profiles. **Current Economics:** - kHYPE yield: 1.94% APY (14-day average) - HYPE borrow cost: 0.84% - Net carry: +1.10% per unit of leverage - Formula: Net APY = leverage × kHYPE yield - (leverage - 1) × HYPE borrow rate **Key Risk Factors:** 1. **Rate inversion** - If borrow rates exceed staking yield, loan-to-value ratios drift upward. Even at a sustained 10% HYPE borrow rate, reaching the 86% liquidation threshold from 75% LTV would take approximately 1.7 years. 2. **Exit liquidity** - Unwinding positions requires either selling kHYPE at market price or waiting through an 8-9 day unstaking period. **Oracle Protection:** Felix prices kHYPE at redemption rate rather than market price. During September 2025, kHYPE traded as low as 0.88 on secondary markets while Felix's oracle remained stable, protecting borrowers' health factors but not exit prices. Users can access the strategy at [usefelix.xyz](http://usefelix.xyz/vanilla/borrow).
Felix Launches On-Chain DCA Trading for SpaceX Equity
Felix has introduced **fully on-chain Dollar-Cost Averaging (DCA) orders** for spot equity trading, starting with SpaceX (SPCX). **Key Features:** - Trade spot equities using automated DCA strategies - Fully on-chain execution for SPCX - Available through Felix's trading platform This builds on Felix's previous launch of spot SpaceX trading in mid-June, now adding automated recurring purchase functionality. Users can access the feature at [trade.usefelix.xyz/equities/SPCX](https://trade.usefelix.xyz/equities/SPCX).
Felix Reintroduces USDH Borrowing Incentives with 77% LTV Options
Felix has relaunched **USDH incentives**, now targeting borrowers rather than lenders. **Key Details:** - Incentives available for USDH borrowed against **kHYPE, HYPE, and UBTC** collateral - All three assets offer **77% maximum loan-to-value (LTV)** ratios - Designed to reduce borrowing costs for traders using USDH in HIP-3 markets **Context:** This marks a shift from December's strategy, which focused on lending incentives and saw USDH Flagship vault reach $14.6m in deposits. The new approach aims to support traders holding spot assets who want to borrow USDH for trading. Borrow USDH at [Felix](https://www.usefelix.xyz/vanilla/borrow). Updates will be shared in the Felix Discord.
Felix Partners with Ondo to Bring US Equities Onchain
Felix is integrating with Ondo Global Markets to offer onchain spot equity trading. The platform will launch with access to **100+ US stocks** through trade.usefelix.xyz, expanding to 1,000+ equities in coming months. **Key features:** - Trade spot equities onchain with traditional finance-level liquidity - 24/5 trading availability - Multi-million dollar order execution from day one - Future ability to borrow against spot equity holdings Unlike previous onchain equity products limited by AMM liquidity constraints, Felix's implementation with Ondo provides institutional-grade execution. Ondo Global Markets maintains publicly audited holdings demonstrating overcollateralization, daily attestations, bankruptcy-remote legal structure, insurance fund, and multiple smart contract audits. The partnership builds on Ondo's existing infrastructure for tokenized stocks and ETFs, which uses Chainlink as its oracle platform for price data.
🥇 Gold Perps Launch
**GOLD-USDH perpetual futures** are now live on Hyperliquid, deployed by the Felix team through HIP-3. **Key Features:** - **20x maximum leverage** (higher than PAXG-USDC) - **$2M USD open interest cap** initially - **Lower fees** due to USDH discounts - **Improved pricing** sourced from deeper off-chain liquidity venues The market follows standardized commodity perps with on-hours and off-hours pricing. This offers better hedging access for market makers compared to relying solely on spot PAXG pricing. [Trade GOLD-USDH](https://trade.usefelix.xyz/flx:GOLD) | [View Documentation](http://usefelix.gitbook.io/perps)