Гаманець для Felix feUSD

What is Felix feUSD (FEUSD)?

The stablecoin of the Felix lending protocol on HyperEVM, the smart contract layer of Hyperliquid. feUSD is not backed by dollars in a bank: it is minted when someone opens a collateralized position on Felix, locks HYPE or another accepted crypto asset, and borrows feUSD against it. The design follows the Liquity V2 model, so each borrower sets their own interest rate, positions that fall below the required collateral ratio are liquidated, and anyone holding feUSD can redeem it against collateral from the protocol at face value. That redemption path is what anchors the token near one dollar rather than a promise from an issuer.

The name Felix covers more than one product, which is worth knowing before you look at your balance. feUSD is the CDP stablecoin. Felix also runs a separate deposit and lending service built on Morpho vaults, where you deposit an asset such as USDT0 or HYPE and receive a vault receipt token in return. Those receipt tokens are not feUSD, and feUSD is not something you deposit to get them. If you were expecting a vault share in your wallet and see feUSD instead, or the other way round, the two products got mixed up somewhere upstream.

Holding it

feUSD is a plain ERC-20 on HyperEVM. It does not rebase and does not grow in your wallet by itself; the number you see is the number you hold. Moving it costs gas in HYPE, the native coin of HyperEVM, so a wallet with only feUSD in it cannot send anything. In Tangem, HYPE sits in the same wallet next to feUSD on the same address, and signing a transfer is a tap of the card on the phone, no cable or battery involved. For a stablecoin you may move in and out of Felix positions fairly often, that is the practical reason to keep it there.

Supported networks in Tangem (1): HyperEVM.