Felix USDC

USDC·HyperEVM·curated by Felix

APY4.4%-1.21% vs 30d

TVL$11.52M

Risk score21/ 100

Plain English explanationWritten by Sharpe Finance research · model card · last update 2026-05-12

What this vault actually does

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.

What breaks this vault

The honest version. Every structural failure mode this vault is exposed to, ranked by severity. If you want to know whether to invest, start here.

Cap-weighted utilization is 86.2%, leaving little idle buffer. Large same-day redemptions may queue behind active loan repayments.

Primary loan or collateral asset is a stablecoin. A sustained depeg below 99 cents impacts NAV and disables liquidation routing for non-USD collateral.

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