Felix Shuts Down HIP-3 DEX on June 19, Refocuses on Lending Business After Losing to TradeXYZ

According to Felix Protocol co-founder Charlie, HIP-3 DEX and all spot markets will close starting June 19, with full shutdown completed by June 20. All traders must close active positions before the deadline.

Felix attributed the DEX closure to competition from TradeXYZ, which captured market share through earlier launch, USDC pricing, rapid market expansion, and airdrop effects. Despite recording approximately $3 billion in trading volume across OIL, GOLD, and SILVER markets, Felix was surpassed by TradeXYZ. The team said the DEX closure will not impact its lending and spot equities businesses, with continued focus on upgrading core products.