USDXL vaults
About HypurrFi Last USD
Last USD (USDXL) is an overcollateralised CDP stablecoin issued by HypurrFi on HyperEVM (Hyperliquid). Collateral includes HYPE, stHYPE, USDC, and USDT.
Stablecoin price 1 USDXL = $0.99
USDXL is issued by HypurrFi, a lending and borrowing protocol on HyperEVM that leverages the Euler technology stack.
Mechanism
- Overcollateralised CDP model — users deposit collateral and borrow USDXL
- Collateral types: HYPE, stHYPE, USDC, USDT, and other approved assets
- Always redeemable at $1 for debt repayment on HypurrFi (not redeemable for fiat)
- Planned hybrid backing via tokenised US Treasuries purchased with protocol revenue
Status
Active but small — ~$3.14M market cap, ~$4K–$25K daily volume. Trading slightly below peg (~$0.98). Launched March 2025.
Sources
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vaults TVL $0 Avg. return --- Stablecoin-only Updated
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