HypurrFi

**Euler Finance is assuming control of HypurrFi's Mewler Markets on Hyperliquid EVM**, with the HypurrFi brand being retired in an orderly wind-down process. **Key Changes:** - Euler Finance becomes the front-end home for Prime, Yield, and future markets on HyperEVM - Clearstar Labs continues as risk curator for isolated lending markets - HypurrFi's Pooled Markets are being deprecated over several weeks - All user deposits, positions, and collateral remain safe and operational **What's Happening:** - No security breach or exploit - this is a deliberate operational decision - New borrowing in Pooled markets has been suspended - HYPE, USDC, and USDT0 remain available for lending as borrowers unwind positions - USDXL rates set at 30% to incentivize repayment before market closure on July 15, 2026 - Migration tool added to help users move from Pooled to Euler Markets - HypurrFi support available until May 28th **For Users:** - **Lenders:** Withdraw from Pooled, deposit into Prime or Yield markets - **Borrowers:** Repay Pooled positions, migrate collateral to Prime or Yield - Expect rate volatility during transition as utilization increases The transition reflects a consolidation around Euler's modular, isolated lending architecture, which has seen stronger demand for derivatives on HyperEVM.

**HypurrFi has frozen new borrows and lending for USDH in the Pooled Market as the stablecoin sunsets.** Users are encouraged to begin unwinding positions and repaying USDH debt. The freeze prevents new activity while existing positions remain active. **Key Actions:** - Check your positions at [HypurrFi Dashboard](https://app.hypurrfi.com/dashboard/pooled) - Begin repaying USDH loans - Unwind positions in preparation for the sunset This follows previous market freezes, including a temporary USDe market pause in April due to the rsETH exploit on Aave. The USDH sunset represents a planned wind-down of the stablecoin.

HypurrFi is managing a transition period as USDH operations wind down on Hyperliquid. The platform is coordinating with Native Markets and Hyperliquid to ensure a smooth process for all stakeholders. **Key developments:** - HypurrFi working closely with partners on transition logistics - Users and partners being supported through adjustment period - Official announcements forthcoming with detailed guidance **Related context:** HyperLend announced it will sunset USDH borrowing and lending within 48 hours of Native Markets' wind-down announcement. Users are encouraged to proactively repay USDH loans as the market closes. The teams emphasize this is part of the ecosystem's evolution, with HypurrFi committed to supporting users through the changes.

HypurrFi has introduced a new in-app feature allowing users to obtain USDG0 directly through a dedicated button. Users can now swap USDC to mint USDG0 straight to their wallets before depositing to earn yields. **Key Details:** - USDG0 is available across multiple HypurrFi markets including Euler Finance Prime and Yield markets, plus the Earn Vault managed by Clearstar Labs - USDG0 is issued by Paxos using LayerZero's OFT standard as an omnichain extension of USDG - The stablecoin is 1:1 backed by USD reserves and regulated by Paxos, with governance by Global Dollar - HypurrFi reports significant borrowing demand for USDG0 and other stablecoins on the platform The integration streamlines the process for users to access yield opportunities without needing to acquire USDG0 from external sources first. Access the feature at [app.hypurrfi.com/earn](http://app.hypurrfi.com/earn)

HypurrFi is enhancing transparency by integrating **Clearstar's risk management methodology** directly into its application interface. **Key Updates:** - Clearstar's due diligence process now has increased visibility within the HypurrFi app - Partnership focuses on building risk management into markets - Follows previous collaboration on Euler Finance markets featuring isolated risk clusters The integration aims to help users verify market safety before deploying capital. Clearstar's curated approach previously enabled the Scale cluster on Euler Finance, which isolates risk while maintaining capital efficiency for lenders and borrowers on Hyperliquid finance. The move represents a shift toward making risk assessment tools more accessible to users at the point of interaction.

**HypurrFi remains unaffected** by the KelpDAO rsETH exploit via LayerZero, but has taken precautionary measures. **Actions Taken:** - Temporarily frozen USDT0 and USDe markets on Pooled - Withdrawals and repayments continue to function normally - Clearstar pausing USDT0 supply on Prime and Yield - Markets will unfreeze once USDe and USDT0 teams resume bridging **The Incident:** An exploiter stole $300M worth of rsETH from KelpDAO's Ethereum bridging contracts, then used it as collateral across lending protocols like Aave and Compound to borrow ETH. This created undercollateralized debt since more rsETH now circulates than exists in backing. Both Aave and Compound governance paused relevant markets. Users can still manage positions through their Dashboard. For detailed information: [KelpDAO incident coverage](https://help.defisaver.com/general/kelpdao-rseth-incident-april-2026)

**HypurrFi has launched Scale**, a new isolated lending market cluster on Hyperliquid designed to improve capital efficiency across multiple assets. **Key Features:** - Isolated Mewler market cluster for risk management - Initial support for assets including $PUMP, $FART, $haHYPE, $bbHLP, and $PURR - Uses $USDXL stablecoin by Last.net - Curated by Clearstar Labs on Euler Finance markets **What This Means:** The isolated market structure allows lenders and borrowers to access capital-efficient lending while containing risk to specific asset clusters. This approach enables users to leverage a wider range of Hyperliquid assets without exposing the entire protocol to individual asset risks. The platform aims to expand liquidity options and capital efficiency for the growing Hyperliquid DeFi ecosystem. [Access Scale Markets](https://app.hypurr.fi/borrow)

**HypurrFi's Mewler markets continue to grow** with two distinct lending options now available on Hyperliquid. **Key Features:** - **HypurrFi Prime** - Isolated lending market for select assets - **HypurrFi Yield** - Alternative lending market with different collateral options - Powered by Euler Finance infrastructure - Markets share some overlap but offer variety in supported collateral types The platform builds on Mewler's January deployment, which partnered with Euler Finance for core functionality and Clearstar Labs for Earn Vault curation.

**HypurrFi marks its first anniversary** on Hyperliquid's EVM testnet, celebrating a year of active lending operations. The protocol has maintained consistent yield generation throughout its testnet phase, building a community of users and supporters. **Key highlights:** - One full year of live operations on Hyperliquid testnet - Continued yield generation for users - Strong community engagement including users, critics, and builders **Looking ahead**, HypurrFi hints at entering the "next phase of lending on Hyperliquid," suggesting potential mainnet deployment or expanded features. The anniversary comes as Hyperliquid's ecosystem grows, with NFT lending already available through partners like Cyan for popular collections like Hypurr NFTs. *Ready to explore decentralized lending on Hyperliquid's growing ecosystem.*

**HypurrFi has activated its Pooled Markets** allowing users to deposit multiple cryptocurrencies as collateral to borrow USDC. **Supported collateral assets include:** - $HYPE - $BTC - $ETH - $SOL - $stHYPE - $kHYPE - Additional tokens **Enhanced borrowing incentives** are now live, offering bonus APR on net USDC borrowing positions to help offset fees. The incentive program is powered by Gauntlet. *Important: Users should carefully review the fine print to understand bonus requirements before participating.* Access the markets at [app.hypurr.fi/markets/pooled](https://app.hypurr.fi/markets/pooled)