Felix Protocol Airdrop Guide: How to Farm feUSD and Felix Points on Hyperliquid (2026)

What is Felix Protocol?

Felix Protocol is one of the largest decentralized borrowing and yield protocols on Hyperliquid's HyperEVM. At its core it is a CDP (Collateralized Debt Position) system: you deposit collateral such as HYPE, BTC, ETH, or SOL and mint feUSD, a USD-pegged stablecoin, without selling your crypto. Felix Protocol is an authorized fork of Liquity V2, the proven Ethereum-native borrowing protocol, tailored specifically for the Hyperliquid ecosystem. It has two core modules: CDP Vaults, where you mint feUSD and stake it into Stability Pools, and Vanilla Markets, a peer-to-peer lending and borrowing layer.

Felix Protocol has grown into a heavyweight, with TVL surpassing $1B. It is also expanding beyond money markets into a native spot and perp DEX built on Hyperliquid, already supporting 200+ assets including tokenized equities through a partnership with Ondo Global Markets, and using RedStone price feeds (aggregating NASDAQ, IBKR, and DataBento) for its equity perpetual markets. Every action on the protocol feeds a real-time points engine.

There is a second layer of value that most casual users miss. Because using Felix means transacting on HyperEVM, your activity also builds a footprint toward Hyperliquid's own Season 2 airdrop, which allocated 38.888% of $HYPE supply. One protocol, two airdrop exposures.

Is the Felix Protocol airdrop confirmed?

Felix runs an official, confirmed points program. Season 1 launched in April 2025 and transitioned to Season 2 in January 2026, which is live now. A token has not been formally confirmed, but the points program is explicitly designed to position early users for token rewards after a Token Generation Event, and prediction markets price a Felix TGE by the end of 2026 as likely. So the points are confirmed and live; the token and airdrop are strongly anticipated but not formally guaranteed. There is also a separate incentive thread: mainnet users of Liquity's BOLD stablecoin qualify for Felix point incentives under Felix's exclusive license to deploy Liquity's codebase on HyperEVM.

Felix Protocol airdrop details

Project: Felix

Chain: Hyperliquid HyperEVM

Type: CDP borrowing, lending, and Stability Pools (Liquity V2 authorized fork)

Stablecoin: feUSD (mint against HYPE, BTC, ETH, SOL and more)

Points: Confirmed, Season 2 live since January 2026

TVL: $1B+

Bonus exposure: Builds Hyperliquid Season 2 footprint; Liquity BOLD holders get separate incentives

Referral: Active (ref=92546631), earn a share of referees' points

Related airdrops: Altura, Saturn Credit, Senpi (Hyperliquid ecosystem)

Join: usefelix.xyz

How to farm the Felix Protocol airdrop

1. Open Felix through the referral link. Go to Felix and connect your wallet on HyperEVM.

2. Deposit collateral and mint feUSD. Lock HYPE, BTC, ETH, SOL, or another supported asset and mint feUSD against it. You keep your collateral exposure while putting the borrowed stablecoin to work.

3. Stake feUSD in the Stability Pool. Supplying feUSD to the Stability Pool earns points plus yield, and staking gives boosts. This is the simplest core farming action.

4. Provide liquidity for feUSD pairs. Supply feUSD liquidity on Hyperliquid DEXs like HyperSwap or KittenSwap for bonus points. (See the nested-exposure box for how to pick the smart side of these pairs.)

5. Use Vanilla Markets and the Felix Agent. Lend or borrow on Vanilla Markets, and let the Felix Agent run weekly interest optimizations. Both contribute to your points.

6. Stay consistent. Points distribute in batches and reward sustained activity, so holding and using feUSD over weeks beats a one-time deposit before a rumored snapshot.

7. Refer friends. Share your Felix referral link to earn a share of their points.

Advanced strategies

• Delta-neutral: open offsetting long and short positions across Felix accounts to neutralize market exposure while farming volume-based points.

• Funding-rate farming: open opposing positions on a single pair across different venues with a funding-rate margin, earning yield while minimizing directional risk and farming Felix points at the same time.

Nested-exposure angle: When you provide feUSD liquidity, the asset you pair it with decides whether you farm one program or two. Pairing with a plain stablecoin farms only Felix. Pairing feUSD with a points-bearing dollar that HyperEVM DEXs accept, for example USDhl, can expose you to that issuer's program at the same time, and using a points-bearing collateral asset to mint feUSD can stack a third. Every HyperEVM action also accrues Hyperliquid footprint. The lesson most sites skip: on Felix you are not just choosing how much to farm, you are choosing how many programs one position touches. Verify the specific pair and that both programs are live before relying on this.

How much does it cost to farm Felix Protocol?

There is no signup fee. Your costs are the collateral you lock to mint feUSD, the borrow interest on your feUSD position, and HyperEVM gas, which is cheap. Because it is a CDP, you are not spending capital, you are borrowing against collateral you keep, and you can redeem feUSD for $1 of collateral minus fees. The real risks and costs are liquidation if your collateral value drops too far relative to your debt, and the borrow interest rate. You can start small and scale; larger, longer, more active positions earn proportionally more points. Keep a conservative collateral ratio so a market dip does not liquidate you.

Faster-farming angle (Pendle, verify before relying): feUSD and related Hyperliquid stablecoin assets have appeared in the broader Pendle yield-tokenization ecosystem for principal and yield separation. If a live Pendle market for an feUSD-related asset (such as a staked-feUSD or Stability-Pool position) is active when you read this, holding the YT side concentrates points exposure per dollar versus simply holding the underlying. We could not confirm a specific live feUSD Pendle pool at time of writing, so check Pendle's app directly and only use this route if a pool is actually live.

Is Felix Protocol safe and legit?

Felix is among the more credible protocols on Hyperliquid. It is an authorized Liquity V2 fork, meaning it inherits a proven, audited codebase lineage rather than novel untested mechanics. It has over $1B in TVL, real partnerships (Ondo Global Markets for tokenized equities, RedStone for price feeds, HyperSwap and KittenSwap for liquidity), and a transparent points dashboard. The risks are the standard CDP and DeFi ones: smart-contract risk, liquidation of your collateral if markets move against you, and stablecoin peg risk on feUSD. Manage your collateral ratio conservatively, use only the official usefelix.xyz domain, never share your seed phrase, and only put in funds you can afford to risk.

Felix Protocol Airdrop FAQ

How do Felix Protocol points work?

Every core action earns points: minting feUSD, depositing collateral, staking feUSD into Stability Pools (with boosts), providing feUSD liquidity on HyperEVM DEXs, lending and borrowing on Vanilla Markets, using the Felix Agent, and referring others. Points distribute in batches and are tracked on the dashboard. Season 2 has been live since January 2026.

Does using Felix Protocol help with the Hyperliquid airdrop too?

Yes. Felix runs on HyperEVM, so your activity builds your on-chain footprint on Hyperliquid, which has allocated 38.888% of $HYPE supply to its Season 2 airdrop. This is a major reason to concentrate farming on HyperEVM protocols like Felix.

What is the most capital-efficient way to farm Felix?

Two levers. First, asset selection: when you provide feUSD liquidity or choose collateral, pick the points-bearing variant (for example a points-earning dollar like USDhl on the other side of the pair, or a points-bearing collateral asset) so one position farms Felix plus a second program, while every action also accrues Hyperliquid footprint. Second, if a live Pendle market for an feUSD-related asset exists when you read this, the YT side concentrates points per dollar, verify it is live first. If neither applies, staking feUSD in the Stability Pool with boosts is the cleanest points-per-dollar core action.

What are related airdrops to Felix Protocol?

Felix sits in the Hyperliquid and stablecoin-yield cluster. Farm it alongside Altura (HyperEVM yield vault) and Senpi (AI trading on Hyperliquid) to stack the same ecosystem, plus Saturn Credit for stablecoin yield. Full list: 200+ airdrops in 2026.

Related: Altura and Senpi share Felix's HyperEVM footprint, and Saturn Credit rounds out the stablecoin-yield stack. Full list: 200+ airdrops in 2026.