Felix is a stablecoin protocol on Hyperliquid L1. feUSD is the cornerstone of the Felix DeFi suite. It enables users to borrow against majors (ETH, BTC, HYPE, etc.) and unlock liquidity for more use cases. Given its unique CDP architecture, Felix can offer the best rates for borrowers. feUSD itself serves as a censorship-resistant stablecoin complete with sustainable native yield.