Felix feUSD

Felix feUSD is a crypto-backed stablecoin built within the Hyperliquid and HyperEVM ecosystem, designed to maintain a value close to one US dollar. It is a synthetic asset, meaning its dollar peg is supported by cryptocurrency collateral rather than by fiat deposits held at a bank. It is intended for users who want a stable unit of account or medium of exchange without leaving the Hyperliquid ecosystem.

feUSD is minted on HyperEVM and backed by crypto collateral, placing it in the category of crypto-backed stablecoins where the token's value is maintained through collateralization and protocol mechanisms rather than direct fiat reserves. The token lives on HyperEVM, a blockchain environment connected to the Hyperliquid network. No consensus algorithm data is stored for this asset, and no block time is recorded, so further detail on settlement mechanics is not available from the information held here.

No fee stream data is stored for Felix feUSD, which means this site cannot report on revenue sources, fee payers, or recipients for the protocol. What the data does show is that the stablecoin portion of circulating supply stands at 9,376,307.17 units on a point-in-time basis, while total circulating supply is 75,004,069, and that figure has declined by 5.25 percent over the last 30 days. The fdv-to-market-cap ratio is recorded at 118.64 on a point-in-time basis, reflecting a large gap between current circulating value and fully diluted value, itself driven by a dilution overhang of 11,763.73 percent, also on a point-in-time basis.