Felix feUSD

FEUSD

Stablecoin, stable asset weightsMarket-cap rank 346, CoinGecko 23 Oct 2026

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.28–

Transparencywithheld×0.24–

Revenuewithheld×0.08–

Innovationwithheld×0.08–

Communitywithheld×0.12–

Tokenomicswithheld×0.20–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Felix feUSD

Analysis of 27 Jul 2026

Felix feUSD is an over-collateralized stablecoin for the Hyperliquid ecosystem that is designed to track the US dollar. CoinGecko reported a $0.9983 price, roughly $74.9 million market cap, 75.0 million circulating supply, and about $52,000 in 24-hour volume on July 27, 2026.

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Felix’s current borrowing documentation states that users deposit HYPE or UBTC collateral to borrow feUSD, with interest responding to token balances, oracle prices, and utilization. The protocol documents a Stability Pool, liquidations, and a redemption path: when feUSD trades at or below $0.995, arbitrageurs can redeem it for collateral.

This supplies an on-chain peg mechanism, while the low reported trading volume and single-ecosystem collateral base remain material constraints.

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