Felix will shut down the DEX on June 19, becoming the first deployer of a HIP-3 to formally shut down.

BlockBeats News, June 8th, Decentralized Derivatives Platform Felix announced that due to the suspension of the stablecoin USDH, the Felix DEX based on HIP-3 and all trading markets in operation will begin to gradually close on June 19th, with full liquidation completed on June 20th. The platform reminds traders to close their positions before this deadline. Each market will be settled sequentially, with a one-hour interval between adjacent markets.

In response, community member Shaunda Devens stated that Felix has become the first official HIP-3 deployer to shut down, and this may just be the beginning. Apart from TradeXYZ, the rewards obtained by other deployers through HYPE staking and auctions are not attractive.

However, Hyperliquid community member aaalex.hl pointed out that Felix's shutdown seems to be primarily related to the USDH suspension rather than TradeXYZ market share pressure.

Shaunda Devens responded that while USDH is indeed one of the reasons, Felix chose to completely close the DEX instead of continuing to list USDC trading pairs as a HIP-3 deployer. Although not directly impacted by TradeXYZ, since TradeXYZ dominates the major markets, other deployers can only turn to niche markets. These markets are difficult to cover auction costs and cannot prove the opportunity cost of staking 500,000 HYPE is reasonable.

Further disclosure revealed that Hyperion, who leased HYPE to Felix, is reclaiming the related tokens and plans to reallocate the funds to a higher-yield strategy.