Felix USDT0 on HyperEVM
A Morpho vault on HyperEVM that lends out USD₮0 deposits, curated by Felix. Depositors earn 6.21% a year right now after a 10% performance fee.
Data from Morpho's API · updated
Net APY
6.21%
after fees, paid to depositors
30-day APY
6.81%
7-day 5.86%, from the share price
Deposits
$2.14M
2.14M USD₮0
Withdrawable now
$974K
46% of deposits
Performance fee
10%
of the interest earned
Depositors
3,305
largest holds 28.2%
Felix USDT0 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 |
|---|---|---|
| WHYPE / USD₮0LLTV 62.5% | $1.34M | 61.1% |
| UBTC / USD₮0LLTV 77% | $676K | 30.8% |
| kHYPE / USD₮0LLTV 62.5% | $128K | 5.8% |
| wstHYPE / USD₮0LLTV 62.5% | $49.6K | 2.3% |
| beHYPE / USD₮0LLTV 62.5% · under $1,000, not tracked here | $12.00 | <0.01% |
| Idle cashnot lent out | $0 | 0.0% |
| PT-kHYPE-19MAR2026 / USD₮0LLTV 62.5% · 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
| WHYPE | 59.4% |
|---|---|
| UBTC | 25.2% |
| kHYPE | 13.1% |
| wstHYPE | 2.3% |
Returns over time
Net APY actually earned over each period, from the share price: after fees, without token rewards
| Last day | 6.20% |
|---|---|
| Last 7 days | 5.86% |
| Last 30 days | 6.81% |
| Last 90 days | 7.06% |
| Last year | 6.00% |
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 | 2SetCap from February 6, 2026; RemoveMarket from April 2, 2026 |
| Created | May 9, 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 | 6.93% |
| Public allocator | Onborrowers can pull liquidity between this vault's markets |
| Vault contract | 0xFc51…151e |
| USD₮0 token | 0xB8CE…5ebb |
| Network | HyperEVM |
The curator's description: "The Felix USDT0 vault supplies USDT0 to established, high liquidity markets where it is borrowed against battle tested collateral. Parameters and caps are adjusted by the curator to prioritize stable, risk managed APR."
Largest depositors
3,305 addresses hold shares in this vault
| Address | Deposit | Share of vault |
|---|---|---|
| 0x6d20…3C21 | $603K | 28.2% |
| 0x9279…526F | $321K | 15.0% |
| 0x1262…a6b9 | $173K | 8.1% |
| 0x28d4…2E93 | $114K | 5.3% |
| 0xeB75…f875 | $86.9K | 4.1% |
| 0x37C2…9a53 | $64.9K | 3.0% |
| 0xaF3e…aa32 | $55.6K | 2.6% |
| 0x9c8B…9091 | $51.8K | 2.4% |
| 0xfd20…1e12 | $47.7K | 2.2% |
| 0x7f4a…3413 | $40.2K | 1.9% |
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
Felix USDT0 is a MetaMorpho vault (Morpho V1) on HyperEVM, created on May 9, 2025. It takes USD₮0 deposits and lends them to borrowers in 5 Morpho markets. The curator, Felix, decides which markets it may use and how much can go into each.
It holds $2.14M (2.14M USD₮0) from 3,305 depositors and pays a net APY of 6.21% after its 10% performance fee. Over the last 30 days depositors actually earned 6.81% a year, and 6.00% over the last year.
Its largest position is WHYPE / USD₮0 at 61% of its deposits, followed by UBTC / USD₮0 (31%) and kHYPE / USD₮0 (6%). Counting every market, its loans are backed mainly by WHYPE (59%), UBTC (25%) and kHYPE (13%). 46% 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: quick answers
What is the APY of Felix USDT0 on HyperEVM?
Felix USDT0 pays 6.21% net APY right now, after its fees. Measured from the growth of its share price, it paid 6.81% over the last 30 days. The rate changes every day with what its borrowers pay.
What does Felix USDT0 lend against?
It lends USD₮0 through 5 Morpho markets. The biggest is WHYPE / USD₮0 with 61% of its deposits. Overall its loans are backed mainly by WHYPE (59%), UBTC (25%) and kHYPE (13%).
Can I withdraw from Felix USDT0 right now?
About $974K of its $2.14M in deposits (46%) 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 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?
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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