🔥 The NEW Hyperliquid Airdrop To Do Now 🔥
Crypto Currency State
8 months ago
The summaries and transcripts on this page are generated with AI technology and may not perfectly represent the content of the video. Please use the information as a guide only.
Executive Summary
Hey! So, this video dives into a brand new crypto airdrop opportunity for the Felix Protocol, which operates on the Hyperliquid Layer 1 ecosystem. It's being presented as a pretty fresh chance to get in early, as the protocol just launched its mainnet and point system very recently (April 2024), meaning not many people know about it yet.
Here's a breakdown of what's covered:
What is Felix Protocol?
- Felix is essentially a borrowing and lending platform built specifically for the Hyperliquid ecosystem.
- It's described as an authorized fork (a copy with modifications) of the well-known Liquity protocol.
- Its main function is to allow users to deposit collateral and borrow a stablecoin called feUSD.
- feUSD is a 'synthetic dollar', meaning it's designed to stay pegged (maintain a value close to) $1 USD.
- The goal is to create a stablecoin system within Hyperliquid that's capital-efficient.
Why Pay Attention?
- Hyperliquid Ecosystem: Hyperliquid itself is seen as a promising Layer 1 blockchain, particularly strong in the trading platform space, and its ecosystem is growing.
- High TVL: Despite being brand new, Felix has quickly jumped to the #2 spot in Total Value Locked (TVL) on Hyperliquid, hitting over $96 million. This is seen as a very strong start, indicating significant user trust and capital inflow, almost double the next project mentioned (Hyperlane).
- Under the Radar: The project is really new (mainnet launched April 8th, point system April 11th). It has a small social media following (around 9k on Twitter/X at the time of recording) and few Discord members. This means getting involved now could lead to a larger share of the potential airdrop compared to joining later when it's more popular.
- Presenter's View: Santiago (the presenter) really likes this project and thinks it's a very important airdrop to participate in, emphasizing its strong start and early stage.
The Airdrop Mechanics:
- Felix launched with an airdrop point system right away.
- You earn points based on your activity within the protocol.
- The system runs in weekly 'epochs' (periods). The first epoch ends on April 18th, making it time-sensitive to get started early.
- Points are distributed based on actions like lending, borrowing, and potentially providing liquidity.
- Your rank and points earned will be visible within the Felix app.
feUSD Stablecoin:
- This is the native stablecoin of the Felix protocol.
- It quickly reached a market cap of over $31 million and ranked around #813 on CoinGecko shortly after launch.
- Like many synthetic or algorithmic stablecoins, it has shown some volatility, dipping slightly below and above $1.
- Risk Warning: There's an inherent risk with pegged tokens like feUSD. Past failures (like Terra/Luna's UST) are mentioned as a cautionary tale. While many similar tokens operate successfully, you need to be aware that the peg could potentially break (depeg). Always do your own research (DYOR).
How to Participate (Step-by-Step):
- Join Felix: Use a referral link (provided in the video description) to potentially get starting points and support the channel.
- Connect Wallet: Connect your crypto wallet (like MetaMask) to the Felix application. You'll need to add the Hyperliquid network to your wallet (the app might prompt you, or you can find RPC details on sites like Chainlist.org).
- Get HYPE Tokens: You need $HYPE, Hyperliquid's native token. This is used for gas fees on the network and as collateral in Felix. You can buy HYPE on exchanges (Centralized - CEX, or Decentralized - DEX) and send it to your Hyperliquid wallet address.
- Deposit Collateral: Go to the 'Borrow' section in the Felix app. Deposit your $HYPE tokens as collateral.
- Borrow feUSD: Based on the amount of HYPE you deposited, you can now borrow (or 'mint') feUSD stablecoins against it. Confirm the transaction.
- Supply feUSD in Vaults: Go to the 'Earn' section. Deposit the feUSD you just borrowed into one of the available vaults. This is a key action for earning yield and likely airdrop points.
- (Optional) Add Liquidity: You might be able to earn points by providing liquidity for feUSD pairs on Decentralized Exchanges (DEXs) within the Hyperliquid ecosystem, like Hyperswap or KittenSwap. It's not confirmed if this specifically earns Felix airdrop points, but it's mentioned as another way to use feUSD.
- Invite Friends: Share your own referral link to earn more points when others join and participate.
- DYOR (Do Your Own Research): Understand the risks involved, especially with stablecoins and new protocols, before committing funds.
Key Takeaway: The main message is that this is a very early opportunity to engage with a potentially significant protocol on a growing Layer 1. By lending and borrowing using HYPE and feUSD, users can accumulate points for a future Felix token airdrop. Acting quickly is emphasized due to the weekly epoch system and the project being relatively unknown.
Transcript
Transcript
Hi crypto fans, welcome to CCS Cryptocurrency State. My name is Santiago and in today's video I bring you a very special new airdrop. This is the new Hyperliquid Stablecoin airdrop. The project was just launched into Mainnet last week and they launched it in an airdrop point system just a couple of days ago. So this is a very fresh and very under the radar airdrop. Just to say from instance there are only 9000 followers on Twitter on X account. So that gives you the idea. I am in the Discord channel, also very few people and it's one of the best projects in Hyperliquid right now. They just launched it everything and this is an airdrop that I think is very important and you need to apply. So let's go directly to the content. After you see this video, if you really like it, please share it with your socials and friends and don't forget to like the video, subscribe to the channel, click the bell to get the notification so you support the channel and you don't miss any of the airdrops that we are doing. So the project is called FELIX and is an authorized form of the well-established liquidity protocol, specifically designed for the Hyperliquid Layer 1 ecosystem. This synthetic dollar protocol enables users to participate in collateralized lending operations while maintaining the stability of its native stablecoin, the FEUSD, which is paired to the US dollar. At its core, FELIX combines the proven mechanisms of liquidity with unique futures tailored for the hyperliquid ecosystem. The protocol allows users to deposit collateral, borrowed FEUSD and earn yields through specialized bolts, creating a comprehensive DeFi ecosystem that prioritize capital efficiency and stability. Sorry for the long introduction, but you need to understand a little bit of the project first. I want to say a couple of important points about the project. I did a lot of research on this one and I really like it. First of all, is that FELIX is already in top 2 in Hyperliquid TBL with 93 million USD. So if you go to DeFi Lama and you search Hyperliquid Layer 1, you can see here on the top rank, that is FELIX at position 2 with 96.72 million USD right now. The third one project Hyperland that was very famous when they launched it, only 51 in comparison, almost the double on FELIX. So this has been launching very strong guys. Hyperliquid was one of the best airdrops, is one of the best projects right now. For the X trading platforms, they have the layer 1 solution. ecosystem that is actually growing a lot. There are many more projects now than a couple of weeks ago. So this is probably a layer 1 that you want to keep track and applying into airdrop. They launched it, the mainnet in April 8th. So it's very, very new. It's very under the radar. Like I mentioned, 8k in X, just a couple of thousands in Discord. So this is very, very new guys. And they launched a point system for an airdrop launched on April 11th. So a couple of days ago. This will be a weekly epoch where you collect points for your activities in the app. The end of the month, the end of the month, the end of the month, the end of the month, the end of the month, the end of the month. The end of the month, the end of the month, the end of the month, the end of the month, the end of the month, the end of the month, the end of the month, the end of the month. The F EUSD already at position 113 since launch one week ago. And you can, of course, check this on CoinGecko or any other platform that tracks the different cryptocurrencies. Position 813, $31 million already on market cap. So very strong beginning for this protocol. Here you can see on April 2nd was launching this stablecoin token. Yes, it has some volatility, but it's nothing out of the extraordinary for another synthetic tokens. Of course, guys, you always need to do your own research. These PEG tokens, we have bad experience in the past, remember, so there are risks on all this, but there are many other tokens similar to this in the market without any problem from a long, long time. So it's not that everything is going to fail, but of course, be aware of the risk that this takes. So if you go to the Twitter account, you can see right now almost 9000. So more people has been showing, but really, really under the radar, you will find a lot of information about the project in the X account. Also some statistics, for example, announcements like BTC collateral is already live in Felix, information about TBL and more. So a good idea is to check everything on the X account. But if you really want to join, you need to be in the Discord community, which is really, really new right now. So let's go now to the tutorial on how you can start on the airdrop. The first thing is that you need to join to the application. Here you have a referral link that is going to give you some points. So please use the referral if you want. You support the channel and also helps you to start on this airdrop. So click here. Once you are there, you're going to be sent to the application. Of course, you will need to connect your wallet. And this is important for the point two, which is connect your wallet with hyperliquid network. You can search the RPC and information of that network at Chainlist.org or many other places. Even if you connect directly to the app, it will pop up the hyperliquid network automatically. So try that first. And you will need to get some hype tokens to pay fees on the network because that is the token to pay fees. And use it as collateral in the application. So you need to buy on CX or DXs and send it to your wallet on hyperliquid. This is very easy to do at this point, guys. You should be able to do that. If you don't know how to do that, put your comments below. I will help you and guide you. So once you are connected with your wallet and everything, you will see more things on the website. For example, the points section, you will be able to go there and see everything besides the rest of the section. Now what you need to do is step three, which is deposit collateral. So navigate to the borrow section, get some hype from the hyperliquid spot market, and transfer to EVM and deposit hype as collateral. So that you will do it here on the borrow section. Once you have hype tokens, you can borrow against them. So you will be able to add and use hype as a collateral asset. After you do that, you need to borrow FEUSD. So once your collateral is deposited, determine how much FEUSD you want to mint, enter the desired amount of the FEUSD to borrow, confirm the transaction in your wallet, and your tokens are going to appear on your transaction after it's finished. If that doesn't happen, here you have, of course, a link to the token. So go here and here you can copy the contract and add it manually to see your token. So you go here to earn, you need to deposit your hype. And doing this, you will be able to deposit and get FEUSD. So depending how much you put here, you can confirm this and you will get that. Then you need to supply the FEUSD on bolts. You can get some by borrowing against your hype with Felix or Swap to FEUSD using a DX like Hyperswap or KittenSwap. Navigate to earn section, review available FEUSD bolts and the respective yields. Select a bolt and enter the amount of FEUSD that you wish to supply. Another option to use something, but I'm not sure if this is going to give you points, is that you can add liquidity to FEUSD pools on DXs like Hyperswap and KittenSwap. So that is another option, but again, maybe worth to do it or not. I don't know. I didn't try that yet. But if that give you points, it would be amazing. And point seven, you can share your referral link. So click the icon to invite friends and you will get your referral and share it. And point A guys, always do your own research. After what happened with Mantra OM token, you need to understand that everything is risky in crypto. Not only new projects, but also established projects can fail. So once you are already borrowed and you are earning points and everything, you will see some statistics here if you are interested. For example, almost 100 million in collateralized tokens here and 31 million borrow. So this is super, super great statistics. And in points, you are going to see all the information, your rank, the tier that you are. Here you can see we are in epoch one right now, the amount of points and how did you get your points. The first distribution is in April 18. So you still have a couple of days to do this quickly and start earning points on epoch one. Remember, as soon as you start, it's better because it's super under the radar. So you will get more distribution of points now than in a couple of months when this is already very, very spread into airdrop house. And people applying into this. For documentation, remember, you have the link to go there. And in quick actions, you have, for example, to bridge FEUSD. You can trade here or you can unwrap some wrap hype to hype if you want. So here you have some useful links if you need. So guys, that is all the step by step on how you can earn points for this Felix airdrop. The most important, I think, on TBL project right now, on Hyperliquid layer one. We are super bullish on Hyperliquid in my Discord. So if you want to join there, go to my website, CryptocurrencyState.net slash subscriptions or the link is in the description. Here you have the information on what you will get joining my private Discord and my airdrop application. These two tools are the best things for airdrop hunters right now. And here is a video on how my app will help you. And the Discord to join here. So the subscriptions are cheap, guys. You can get a monthly subscription to try it first if you want. But the annual subscriptions are super cheap. And don't forget that we launched our merchandising store. There are many, many things that you can get here. Not only mugs, but there are 15 different articles with 10 different designs. The hoodies are amazing, of course, but you have more stuff and many different colors, of course. The link for the CryptocurrencyState store is also in the description. The prices are not excessive, guys. And you will get something that identifies with you on your crypto journey or your airdrop hunter journey. That would be all for this new hyperliquid stablecoin airdrop. Before we leave, don't forget to like the video, subscribe to the channel, click the bell to get the notifications. Follow me at CryptocurrencyState in X, where I post live action stuff that I am doing on airdrops and important information. That would be all and I will see you in the next one. Bye. Bye.