🛢️ Oil Spike Triggers Mass Liquidations
🛢️ Oil Spike Triggers Mass Liquidations
⚠️ When Profits Vanish
A 35% weekend crude oil price surge—the largest since 1983—triggered significant liquidations on Felix's OIL-USDH market.
Key Numbers:
- 913 short positions liquidated
- $3.7m in shorts wiped out (March 7-8)
- $2.13m in auto-deleveraging (ADL) of profitable longs
What is ADL? Auto-deleveraging closes profitable positions when liquidated positions lack sufficient margin. This prevents platform insolvency by matching profitable traders against underwater positions.
ADL Priority Formula: (mark_price / entry_price) Ă— (notional_position / account_value)
Why Felix Saw Heavy ADL: Felix's HIP-3 markets lack HLP (Hyperliquid Liquidity Provider) support, which normally absorbs liquidations first. Without this buffer, the platform went straight to ADL.
Comparison: TradeXYZ's CL-USDC market saw $31.02m liquidations and $4.08m ADLs during the same period.
The platform expects these mass ADL events to decrease as 24/7 traditional asset markets mature.
Felix OIL-USDH Weekend ADL Analysis Over the weekend, crude oil prices spiked ~35%--the largest gain for oil futures since 1983. With this spike came a wiping out of 913 OIL-USDH shorts; ~$3.7m of shorts were liquidated over March 7 and March 8. This involved a triggering of
Crude Oil (WTI) perp is now live to trade on Hyperliquid The crude oil (WTI) perp market is deployed and managed by the Felix team (via HIP-3). The starting parameters of the market are the following: >Starting max leverage is 5x >Starting OI cap is set at 2.5M USD >On-hours and
Felix Expands to 264 Spot Equities on Private Mainnet
Felix has added **61 new spot equity assets** to its private mainnet, bringing the total to **264 available equities**. The expansion was driven by beta user requests and spans multiple sectors: - **Space & Defense**: AST SpaceMobile, Rocket Lab, Northrop Grumman - **Crypto ETFs**: iShares Bitcoin Trust, Fidelity Solana Fund, iShares Ethereum Trust - **AI Infrastructure**: CoreWeave, IonQ, Quantum Computing - **International ETFs**: Coverage for Japan, South Korea, Brazil, Chile, China, and India - **Commodities**: Uranium, copper, oil, natural gas, and precious metals funds The platform now offers exposure to emerging narratives including quantum computing, space exploration, clean energy, and semiconductor infrastructure. Felix indicated that **alpha launch details will be shared soon**, suggesting the platform is moving closer to broader public availability. The expansion positions Felix as a comprehensive on-chain trading platform bridging traditional equities with crypto-native infrastructure.
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)
Felix Launches 5x USDH Incentive Campaign to Scale Hyperliquid's Native Stablecoin
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)