Felix USDT0 (Frontier) on HyperEVM
A Morpho vault on HyperEVM that lends out USD₮0 deposits, curated by Felix. Depositors earn 6.56% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
6.56%
after fees, paid to depositors
30-day APY
6.92%
7-day 6.02%, from the share price
Deposits
$181K
180.83K USD₮0
Withdrawable now
$66.8K
37% of deposits
Performance fee
10%
of the interest earned
Depositors
199
largest holds 18.1%
Felix USDT0 (Frontier) 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 / USD₮0LLTV 77% | $116K | 46.5% |
| UBTC / USD₮0LLTV 86% | $75.4K | 30.3% |
| WHYPE / USD₮0LLTV 77% | $38.2K | 15.3% |
| UETH / USD₮0LLTV 77% | $17.6K | 7.1% |
| PT-kHYPE-24SEP2026 / USD₮0LLTV 77% | $2.0K | 0.8% |
| PT-hbUSDT-18DEC2025 / USD₮0LLTV 86% · under $1,000, not tracked here | $39.00 | 0.0% |
| Idle cashnot lent out | $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
| UBTC | 45.3% |
|---|---|
| kHYPE | 22.1% |
| WHYPE | 21.1% |
| UETH | 10.3% |
| PT-kHYPE-24SEP2026 | 1.1% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 6.39% |
|---|---|
| Last 7 days | 6.02% |
| Last 30 days | 6.92% |
| Last 90 days | 6.93% |
| Last year | 6.29% |
Who controls this vault
| Curator | Felix |
|---|---|
| Owner | 0x4A82…0B3A4-of-6 multisig |
| Guardian | None |
| Timelock | 3 dayswait before risky changes take effect |
| Allocators | 2addresses that move money between markets |
| Pending changes | 2SetCap from September 8, 2025; SetCap from December 10, 2025 |
| Created | July 16, 2025 |
Timelocks give depositors time to leave before a change they dislike takes effect. Morpho risks explained.
Details
| Deposit asset | USD₮0price $0.9990 |
|---|---|
| Vault version | MetaMorpho (V1) |
| APY before fees | 7.31% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0x9896…6bb3 |
| USD₮0 token | 0xB8CE…5ebb |
| Network | HyperEVM |
The curator's description: "The Felix USDT0 Frontier vault extends to newer or higher beta collateral markets with tighter risk limits, seeking incremental yield while actively monitoring liquidity, oracle, and concentration risk."
Largest depositors
199 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0xB002…ed8a | $32.7K | 18.1% |
| 0x2526…e4f4 | $30.0K | 16.6% |
| 0x225B…f8bf | $29.2K | 16.2% |
| 0x4405…AdEC | $20.1K | 11.1% |
| 0xb4cE…Ee8c | $16.9K | 9.3% |
| 0x01Cb…5D3F | $13.2K | 7.3% |
| 0xFcb0…e0B6 | $11.0K | 6.1% |
| 0x53Da…42E7 | $10.6K | 5.9% |
| 0xEEf1…3C5e | $10.0K | 5.5% |
| 0x7461…2721 | $9.6K | 5.3% |
When a few addresses hold most of a vault, one large withdrawal can use up the liquidity that is free right now.
About Felix USDT0 (Frontier)
Felix USDT0 (Frontier) is a MetaMorpho vault (Morpho V1) on HyperEVM, created on July 16, 2025. It takes USD₮0 deposits and lends them to borrowers in 6 Morpho markets. The curator, Felix, decides which markets it may use and how much can go into each.
It holds $181K (180.83K USD₮0) from 199 depositors and pays a net APY of 6.56% after its 10% performance fee. Over the last 30 days depositors actually earned 6.92% a year, and 6.29% over the last year.
Its largest position is kHYPE / USD₮0 at 47% of its deposits, followed by UBTC / USD₮0 (30%) and WHYPE / USD₮0 (15%). Counting every market, its loans are backed mainly by UBTC (45%), kHYPE (22%) and WHYPE (21%). 37% 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 USDT0 (Frontier): quick answers
What is the APY of Felix USDT0 (Frontier) on HyperEVM?
Felix USDT0 (Frontier) pays 6.56% net APY right now, after its fees. Measured from the growth of its share price, it paid 6.92% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Felix USDT0 (Frontier) lend against?
It lends USD₮0 through 6 Morpho markets. The biggest is kHYPE / USD₮0 with 47% of its deposits. Overall its loans are backed mainly by UBTC (45%), kHYPE (22%) and WHYPE (21%).
Can I withdraw from Felix USDT0 (Frontier) right now?
About $66.8K of its $181K in deposits (37%) 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 USDT0 (Frontier) 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 USDT0 (Frontier)?
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.
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