Felix DEX to Shut Down Due to USDH Deactivation

The decentralized derivatives platform Felix announced that, due to the cessation of the stablecoin USDH, the Felix DEX built on HIP-3 and all active markets will be gradually shut down starting June 19 and fully liquidated by June 20. The platform reminded traders to close their positions beforehand, with each market settling sequentially at one-hour intervals. Community member Shaunda Devens noted that Felix is the first HIP-3 deployer to shut down, as other deployers face insufficient returns or similar challenges. Hyperliquid community member aaalex.hl pointed out that Felix’s shutdown is primarily tied to the USDH cessation, not pressure from TradeXYZ’s market share. Shaunda Devens responded that Felix chose to shut down its DEX rather than launch a USDC trading pair, while other deployers, forced to shift to niche markets due to TradeXYZ’s dominance, struggle to cover auction costs and the opportunity cost of staking 500,000 HYPE. Hyperion is reclaiming the HYPE leased to Felix and plans to reallocate funds toward higher-yield strategies.