Felix feUSD

Felix feUSD is a crypto-backed stablecoin built within the Hyperliquid and HyperEVM ecosystem, designed to maintain a value of one US dollar. It is a synthetic asset, meaning its dollar peg is sustained through collateral held in other crypto assets rather than through direct dollar reserves. The intended audience is users of the Hyperliquid network who want a stable unit of account or medium of exchange without leaving that ecosystem.

feUSD is minted by locking crypto collateral through the Felix protocol on HyperEVM, the EVM-compatible layer of the Hyperliquid network. The collateral backing the outstanding supply creates the dollar-linked value; if collateral falls below required thresholds, the protocol can liquidate positions to defend the peg. No consensus algorithm or block time is associated with the token itself, as it is an asset that settles on the underlying HyperEVM chain rather than operating its own network.

The data provided does not include a fee stream for feUSD, so no fee-based measures such as revenue or yield to holders can be derived from what this site stores. The circulating stablecoin supply tracked here stands at 10,802,613.11 units at point-in-time, while the broader market cap figure of 74,956,462 USD reflects a different supply measure, suggesting multiple tranches or representations of the token exist. The 30-day change in that tracked circulating supply is negative 5.598014 percent, indicating the subset of supply monitored has contracted over that window.