Svmuu reported that affected by the shutdown of the stablecoin USDH, the Felix DEX, based on HIP-3, along with all its active markets, will begin a gradual closure on June 19th and complete full liquidation by June 20th. The platform reminds traders to close their positions before this date. Markets will be settled sequentially, with a one-hour interval between adjacent markets.
Community member Shaunda Devens disclosed that while USDH was indeed one of the reasons for Felix's closure, the team chose to shut down the DEX entirely rather than continuing as an HIP-3 deployer by launching USDC trading pairs. Although not directly impacted by TradeXYZ, because TradeXYZ dominates the primary market, other deployers are forced to pivot to niche markets. These niche markets struggle to cover auction costs and cannot justify the opportunity cost of staking 500,000 HYPE tokens.