Hyperion DeFi (NASDAQ: HYPD), the first U.S. publicly listed Hyperliquid treasury company, is winding down two of its largest HYPE token deployment agreements in the wake of stablecoin USDH's announced sunset, according to an 8-K filed after market close on Friday.
On Friday, the Dallas-based company agreed with Felix Foundation, a lending protocol on Hyperliquid, to wind down a HYPE Asset Use Service (HAUS) agreement supporting Felix's HIP-3 perpetual futures markets. Hyperion will unstake the 500,000 HYPE backing the deal on June 22, with all remaining payments and tokens returned by June 29.
Felix signaled on May 14, the same day Native Markets announced the USDH sunset, that its USDH-denominated HIP-3 markets would be discontinued following a future announcement, while leaving Felix Vanilla USDH lending unchanged at that time. On Friday morning, hours before Hyperion's 8-K, Felix said it would deprecate USDH vaults on Felix Vanilla on June 12. The protocol has not yet publicly disclosed a specific shutdown date for the HIP-3 USDH markets backed by Hyperion's HAUS agreement.
Separately, Native Markets, the original developer behind Hyperliquid's bespoke USDH stablecoin, terminated its Temporary Use Agreement with Hyperion effective June 18. The 300,000 HYPE associated with that deal was returned on June 3.
