Felix USDC on HyperEVM
A Morpho vault on HyperEVM that lends out USDC deposits, curated by Felix. Depositors earn 4.52% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
4.52%
after fees, paid to depositors
30-day APY
5.33%
7-day 5.67%, from the share price
Deposits
$2.72M
2.72M USDC
Withdrawable now
$2.58M
95% of deposits
Performance fee
10%
of the interest earned
Depositors
627
largest holds 93.6%
Felix USDC APY history
Net APY earned each day, from the vault's share price: after fees, without token rewards
| Day | Deposits | Net APY |
|---|
Deposits over time
Where the money goes
The markets this vault lends to right now, largest first
| Market | Lent | Share |
|---|---|---|
| kHYPE / USDCLLTV 62.5% | $2.07M | 63.2% |
| WHYPE / USDCLLTV 77% | $951K | 29.0% |
| wstHYPE / USDCLLTV 77% | $178K | 5.4% |
| kHYPE / USDCLLTV 77% | $35.5K | 1.1% |
| UBTC / USDCLLTV 77% | $23.0K | 0.7% |
| PT-kHYPE-19MAR2026 / USDCLLTV 62.5% | $8.6K | 0.3% |
| PT-kHYPE-24SEP2026 / USDCLLTV 77% | $5.3K | 0.2% |
| WHYPE / USDCLLTV 62.5% | $4.7K | 0.1% |
| Idle cashnot lent out | $0 | 0.0% |
| wstHYPE / USDCLLTV 77% · under $1,000, not tracked here | $0 | 0.0% |
The curator decides which markets the vault may use and how much it may put in each (the cap). Allocators then move money between those markets within the caps. How vaults work.
What the loans are backed by
Share of this vault's lending by the collateral borrowers put up
| kHYPE | 54.9% |
|---|---|
| WHYPE | 38.8% |
| wstHYPE | 5.7% |
| PT-kHYPE-24SEP2026 | 0.3% |
| PT-kHYPE-19MAR2026 | 0.3% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 4.51% |
|---|---|
| Last 7 days | 5.67% |
| Last 30 days | 5.33% |
| Last 90 days | 5.51% |
| Last year | 5.80% |
Who controls this vault
| Curator | Felix |
|---|---|
| Owner | 0x4A82…0B3A4-of-6 multisig |
| Guardian | None |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 1addresses that move money between markets |
| Pending changes | 4SetCap from December 20, 2025; SetCap from December 20, 2025; SetCap from December 20, 2025 |
| Created | September 12, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USDCprice $0.9997 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 5.04% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x8A86…Ea27 |
| USDC token | 0xb883…630f |
| Network | HyperEVM |
The curator's description: "The Felix USDC vault supplies USDC to mature high liquidity Morpho Blue markets where loans are backed by liquid blue-chip collateral per-market caps and allocations are curator-managed to prioritize predictable risk-adjusted stablecoin yield."
Largest depositors
627 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x5FF3…bd74 | $2.54M | 93.6% |
| 0x21b2…0205 | $160K | 5.9% |
| 0x2e32…3B24 | $101K | 3.7% |
| 0xE785…0e60 | $64.8K | 2.4% |
| 0x40B4…3116 | $35.9K | 1.3% |
| 0x4de8…9B21 | $21.8K | 0.8% |
| 0x736b…694d | $21.4K | 0.8% |
| 0x2748…91cE | $21.0K | 0.8% |
| 0x264d…E5A6 | $17.4K | 0.6% |
| 0x042b…8EA4 | $16.9K | 0.6% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Felix USDC
Felix USDC is a MetaMorpho vault (Morpho V1) on HyperEVM, created on September 12, 2025. It takes USDC deposits and lends them to borrowers in 8 Morpho markets. The curator, Felix, decides which markets it may use and how much can go into each.
It holds $2.72M (2.72M USDC) from 627 depositors and pays a net APY of 4.52% after its 10% performance fee. Over the last 30 days depositors actually earned 5.33% a year, and 5.80% over the last year.
Its largest position is kHYPE / USDC at 63% of its deposits, followed by WHYPE / USDC (29%) and wstHYPE / USDC (5%). Counting every market, its loans are backed mainly by kHYPE (55%), WHYPE (39%) and wstHYPE (6%). 95% of deposits could be withdrawn right now.
Adding a market or raising how much can go into one waits behind a timelock of 3 days, which gives depositors time to leave first. The owner is a 4-of-6 multisig wallet. Morpho's app shows no warnings for this vault.
Felix USDC: quick answers
What is the APY of Felix USDC on HyperEVM?
Felix USDC pays 4.52% net APY right now, after its fees. Measured from the growth of its share price, it paid 5.33% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Felix USDC lend against?
It lends USDC through 8 Morpho markets. The biggest is kHYPE / USDC with 63% of its deposits. Overall its loans are backed mainly by kHYPE (55%), WHYPE (39%) and wstHYPE (6%).
Can I withdraw from Felix USDC right now?
About $2.58M of its $2.72M in deposits (95%) could be withdrawn immediately. The rest is lent out and frees up as borrowers repay or as higher rates bring in new lenders.
Who runs Felix USDC and what does it charge?
Felix curates it. It keeps 10% of the interest earned as a performance fee. The net APY shown is after these fees.
What are the risks of Felix USDC?
Like every Morpho vault, it can lose money if a borrower's collateral crashes faster than it can be liquidated, if a price oracle fails, or through a smart contract bug. Withdrawals can wait when its markets are fully borrowed. Adding a market or raising a cap waits behind a timelock of 3 days. This is not advice.
Other USDC vaults
The same deposit asset, other curators and networks
