HypurrFi

At a glance Live

What

Lending

Runs on

HyperEVM

Official site

hypurrfi.com

Docs

docs.hypurrfi.com

X

@hypurrfi

Fees, last 30 days

$5.88K

Fees

No protocol fee schedule is published: borrowers pay variable, utilization-based interest, and liquidations in Pooled Markets carry a penalty of about 5-10% depending on the asset.

Official links

• App
• Docs
• X
• Discord
• Telegram
• GitHub (deployments and audits)
• Risk dashboard (Dune)

Checked against HypurrFi's own site on November 4, 2026. Bookmark these instead of using search ads.

What HypurrFi is

HypurrFi builds lending and credit products on HyperEVM, Hyperliquid’s smart-contract chain (as opposed to HyperCore, its trading engine). Its docs say all of its lending code is forked from audited protocols with no changes to the core contracts. There are several products, and they behave differently:

• Pooled Markets: an Aave V3.0.2 fork. Everything you deposit counts toward one combined collateral balance against a shared pool. Variable rates only, with E-Mode (higher limits for correlated assets) and flash loans.
• HypurrFi Markets (community name Mewler): a Euler V2 deployment with three isolated clusters. Prime covers liquid assets, Yield covers leverage on yield-bearing HYPE, and Scale centres on USDXL and more exotic HyperEVM collateral. Isolation means a bad asset in one cluster shouldn’t drain another.
• Earn Vaults: curator-managed Euler Earn vaults for passive lending.
• USDXL: a GHO-fork synthetic dollar (more below).
• Legacy Isolated Markets: older Fraxlend-based markets, now repay and withdraw only.

HypurrFi also runs the Swype credit card (KYC required), an alpha builder-code trading app called Purrps, and the HyperScan.com explorer. Clearstar Labs is its independent risk curator.

What it costs

HypurrFi publishes no protocol fee schedule. What you actually pay:

• Borrow interest: variable and set by utilization. HypurrFi’s docs give no fixed rates. Reserve factors, per-asset loan-to-value limits and caps are shown per asset in the app.
• Liquidation penalty: in Pooled Markets, a liquidation repays up to 50% of your debt per event with a penalty of about 5-10%, depending on the asset. HypurrFi Markets use Dutch-auction liquidations, where the discount to liquidators grows over time.
• Card spending: each Swype purchase is a variable-rate borrow at that market’s rate, with no scheduled repayment date.
• Gas: paid in HYPE on HyperEVM.

DefiLlama counted about $5.0M in Pooled Markets on November 4, 2026. HypurrFi Markets on Euler may be counted under DefiLlama’s Euler listing instead.

How to use it

1. Bridge assets to HyperEVM and keep some HYPE for gas.
2. Open app.hypurrfi.com and pick Pooled Markets (shared collateral), HypurrFi Markets (isolated Prime, Yield or Scale) or Earn Vaults (passive).
3. Supply an asset: approve, then confirm. Enable it as collateral if you plan to borrow.
4. Borrow at a variable rate and keep your health factor well above 1.0.
5. Repay and withdraw when done. Check the Clearstar/Dune dashboard for caps and risk data.

Risks

• Liquidation. Below health factor 1.0 you are partially liquidated, and repeated liquidations can take most of your collateral. Rates can spike and push you there.
• Forked code. The upstream audits (Aave V3, Euler V2, Fraxlend) don’t fully cover HypurrFi’s own configuration; the only HypurrFi-specific report is a deployment review dated February 12, 2025.
• Oracles. Pyth is the primary price feed, with RedStone as backup, through HypurrFi’s HyFiOracle contract.
• Admin control. An ACLManager and PoolConfigurator control listings, caps and risk parameters. Earn Vault curators allocate funds but, per the docs, cannot remove them.
• Withdrawal liquidity. At high utilization you may not be able to withdraw until borrowers repay.
• USDXL is not a stablecoin. It is backed by Pooled Markets debt plus a partial USDT0 reserve, and direct redemption isn’t enabled yet, so it can trade below $1.
• Legacy markets. These are being sunset with no new borrows or incentives. If you still have a position there, repay and withdraw.

Who it suits, and alternatives

HypurrFi suits HyperEVM users who want Aave-style pooled borrowing or ring-fenced Euler markets for HYPE-based collateral, and who will actively watch their health factor. Other HyperEVM lenders are HyperLend, Felix (feUSD CDP and Morpho markets) and Morpho on Hyperliquid; see HyperLend vs Felix for a side-by-side.