🥇 Gold Perps Launch

Felix now offers spot trading for **Nvidia ($NVDA)** stock using USDC, allowing users to trade with: - **Nasdaq-level execution costs** - Orders up to **$1.5 million** per spot market transaction - Direct on-chain access to equity markets The platform's launch coincides with Nvidia's earnings report release. Users can access the trading interface at [Felix's NVDA spot trading page](https://www.usefelix.xyz/trade/spot-equities/NVDA). This development represents another step in bringing traditional equity markets on-chain, enabling crypto-native traders to access stock markets without leaving the blockchain ecosystem.

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 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.

Felix has launched a major **5x increase in USDH incentives** to accelerate adoption of Hyperliquid's native stablecoin over the next month. **Key Details:** - Users earn rewards by lending USDH to Felix's Flagship or Frontier vaults - USDH Flagship: $14.6M deposits, lends to HYPE, kHYPE, UBTC with 62.5-77% max LTV - USDH Frontier: New vault lending to HYPE, kHYPE, wstHYPE at 77% max LTV - Future incentives may extend to borrowers **Strategic Impact:** Growing USDH adoption drives **HYPE token buybacks** and enables cheaper trading on Hyperliquid through native stablecoin benefits for USDH pairs. This follows Felix's recent USDC incentive program, which offered supply APYs of 6.95% (Flagship) and 105.3% (Frontier). [View campaign details](https://app.merkl.xyz/?search=usdh&action=LEND&a)