Stablecoin and lending
How to read this page
This app page is not a recommendation. It separates app rules from third-party TVL or APY context so you can check the app before comparing any yield number.
- Source
- primary-source
- Data
- unavailable
- Live yield metrics are unavailable until a timestamped primary source or parser is connected.
What to check
Read how the app works first, then decide which numbers matter. Missing values stay missing instead of being guessed.
Collateral design, peg support, reserves, and redemption mechanics
Liquidation paths, oracle dependencies, and custody assumptions
Stablecoin demand, liquidity, and incentive-emission durability
Data rules
These checks keep a partial data point from becoming a yield ranking, return promise, or safety claim.
- Peg, reserve, redemption, and collateral claims require primary protocol documentation or dashboards.
- Supply APY and borrow cost should be timestamped and separated from incentives.
- Third-party TVL context cannot prove redemption quality or peg durability.
Missing app data
These are the app fields HypeBasis needs before it can publish native metrics. They stay hidden until a timestamped primary source supports them.
Collateralization
Collateralization is unavailable until a timestamped primary source is connected.
Source needed: Felix or USDhl primary source for collateral backing, collateral types, and source timestamp.
Why it matters: Collateral backing determines peg and liquidation assumptions and cannot be proven by third-party TVL alone.
Redemption mechanics
Redemption mechanics are unavailable until a timestamped primary source is connected.
Source needed: Felix or USDhl primary docs describing redemption path, limits, fees, and timing.
Why it matters: Redemption rules affect whether a stablecoin can return to target value under stress.
Peg context
Peg context is unavailable until a timestamped primary source is connected.
Source needed: Felix or USDhl primary or protocol-approved market source with timestamped USDhl price or peg context.
Why it matters: Peg context separates market-price deviation from assumptions about collateral quality or redemption.
Borrow cost
Borrow cost is unavailable until a timestamped primary source is connected.
Source needed: Felix primary market data with timestamped borrow costs and incentive separation.
Why it matters: Borrow cost may alter stablecoin minting incentives and liquidation risk for collateral users.
Sources to check
These public sources may support future checks. Numbers stay hidden until HypeBasis captures timestamped fields and the exact source path.
Felix docs review
Primary metrics remain unavailable until a source-specific parser is wired and timestamped.
Source type: docs
Fields covered: collateralization, redemption, borrow-cost
Check needed: Manual or source-specific parser review must capture a timestamp, collateral source path, redemption rules, borrow-cost fields, and liquidation assumptions before publishing Felix metrics.
USDhl docs review
Primary metrics remain unavailable until a source-specific parser is wired and timestamped.
Source type: docs
Fields covered: collateralization, redemption, peg
Check needed: Manual or source-specific parser review must capture a timestamp, backing source path, redemption path, and peg-context source before publishing USDhl metrics.
Optional saved data
Saved data status
Values appear here only when saved free data exists. HypeBasis does not call paid APIs or key-gated services for this page, and third-party values are not protocol claims.
- Fetched at
- Unavailable
- TVL
- Unavailable
- Top APY found
- Unavailable
- Fresh?
- Unavailable
Risk tags
Smart-contract risk
Contract bugs, upgrade permissions, external integrations, and dependency failures may outweigh a protocol's headline yield.
Oracle risk
Lending, stablecoin, vault, and DEX products can break when price sources lag, fail, or disagree during volatile conditions.
Liquidity risk
Exits can depend on pool depth, borrow utilization, withdrawal queues, bridge conditions, and the state of underlying strategies.
Liquidation risk
Borrowing and collateralized products can force losses when collateral value, margin rules, or oracle prices move against the account.
Stablecoin peg risk
Stablecoin products need redemption, collateral, reserve, and governance review before assuming a quoted dollar value will hold.
Ecosystem directory
Return to the HyperEVM app directory and risk terms.
Vault risk checks
Compare yield and vault claims with the site's data rules.
Staking risk checks
Separate protocol yield risk from validator and delegation risk.
Sources
- Felix DocsAccessed 2026-05-11
- USDhl DocumentationAccessed 2026-05-11
- Hyperliquid Docs: HyperEVMAccessed 2026-05-08
- Hyperliquid Docs: RisksAccessed 2026-05-30Supports: Smart contract, L1, market liquidity, oracle manipulation, and open-interest cap risk framing.
- DeFiLlama API: Protocols and YieldsAccessed 2026-05-11Supports: Documented free DeFiLlama endpoints used for third-party TVL, yield, fee, and revenue context.