Felix CDP Review: What to Check Before Using It
Felix CDP is an active synthetic-dollar protocol on Hyperliquid, but its borrowing terms, fees and safety details are too sparse to judge whether it suits you.
By the SkyBitcoins review team · Updated
At a glance
Felix CDP key facts
| Type | Synthetic-dollar protocol |
|---|---|
| Network | Hyperliquid L1 |
| Token | None listed |
| Audits | Two listed; scope is unclear |
| Value locked | $20.8M−14.3% 7d |
| Updated |
Felix CDP FAQs
What is Felix CDP?
Felix is described as a synthetic-dollar protocol on Hyperliquid L1. Its homepage also describes stablecoin-based financial services, including trading, earning yield and borrowing against assets, but it does not explain how those services work.
What does it cost to borrow on Felix?
Felix does not publish borrowing rates or other fees in the project details available here. Check the current terms in the app before committing funds; borrowing costs and liquidation conditions can materially affect a CDP position.
Has Felix been audited?
Two audits are listed, but their names, dates and scope are not clear. An audit listing alone does not show what was reviewed or eliminate smart-contract risk, so look for the reports and confirm which contracts they cover before depositing.
Compare
Felix CDP alternatives
Liquity V1 offers interest-free LUSD loans against ETH, but borrowing fees, liquidation risk and independent frontends need care.
Liquity V2 offers user-set-rate borrowing against ETH and staked ETH, but you must choose a third-party frontend and manage liquidation risk.
Liquity V2 lets you borrow BOLD against ETH or liquid staking tokens at a rate you choose, but you must vet the frontend and manage liquidation risk.
Frankencoin offers collateral-backed ZCHF for borrowing, payments and savings, but check liquidation rules, fees and the exact network first.
Parallel offers USDp and sUSDp across five chains, but check variable yield, collateral and smart-contract risks before depositing.
Inverse Finance offers fixed-rate DOLA borrowing and sDOLA yield on Ethereum, but check market terms, liquidation risk and security before depositing.
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LiquidLoans offers 0% interest borrowing against ETH or PLS, but liquidation risk and unpublished fee and audit details merit caution.
POWERCITY Earn offers interest-free PXDC loans against PLSX, but collateral, peg and contract risks warrant caution.
Thala offers Move Dollar borrowing and other DeFi products on Aptos, but check live fees and collateral liquidation terms before depositing.
Balanced combines cross-chain DeFi with collateral-backed bnUSD, but check live costs, liquidation rules and audit details before depositing.
Balanced combines cross-chain swaps, lending and borrowing; check unlisted swap costs and the project’s security disclosures before depositing.
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More on Hyperliquid L1
Bitvavo offers euro funding, 400+ crypto assets and Pro Mode, but check withdrawal terms and the separate risks of staking and leverage.
Hyperliquid offers non-custodial spot and perpetual trading on its own L1, but fees and leverage risks merit a careful check.
Uniswap v4 offers multichain swaps and customizable pools, but check each pool’s fees, hook behavior and risks before trading.
Euler V2 offers configurable lending markets across many chains, but check each vault’s rates, liquidity and liquidation rules before depositing.
Morpho Blue offers non-custodial lending markets and curated vaults, but rates change and supplied assets face smart-contract, oracle and market risks.
Sablier Lockup offers flexible on-chain token vesting, but check its fees, supported network and contract risks before funding a stream.
How we checked
Sources
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