@Morpho Labs 🦋 |$MORPHO |#Morpho
The Felix Vanilla Vaults, established on Morpho Labs’ robust and secure infrastructure, have declared that they were not exposed to the Stream Finance xUSD incident in any way. While the entire market was bewildered by the loss of $93 million by Stream, Felix Protocol distinguished itself by its promptness and decisiveness. The team reassured that Felix is solely an in-house operation and thus does not have any connections with third-party curators or any collaterals that are linked to xUSD. Simply put, the loss of Stream Finance cannot be traced back to Felix or Morpho.
It’s a point that not only sets Felix apart from numerous other DeFi platforms but also demonstrates that risk control was at the heart of the design of Felix. For each asset that is put forward, a rigorous examination of various aspects such as security of smart contracts, liquidity depth, volatility, and evaluation of the team is carried out. To avoid unnecessary liquidations during brief price fluctuations, the protocol employs Redstone DeFi price oracles and redemption-rate logic. The protocol is thus capable of stabilizing itself even in the most unpredictable market situations.
In addition, Felix enables users to select between various vaults with different risk levels, ranging from cautious to more liberal ones. Not only the team but also the community, through open dashboards such as vaults.anthias.xyz and risk.usefelix.xyz, constantly keeps an eye on each vault. Here, being transparent is not merely a statement, rather it is the fundamental principle on which the protocol is based.
At the moment, Felix is free of any bad debts, something that is hardly imaginable in the world of volatile DeFi. The recent happenings in the market should make everyone realize that thorough onboarding and openness in risk management should not be considered as weaknesses but rather as strengths. While some are in a hurry to be the fastest, Felix and Morpho are patiently constructing the longest-lasting systems.
Felix Vanilla Vaults, supported by Morpho Labs, are still going to great lengths to convince the world that real DeFi innovation is the outcome of responsible, clear, and trustful engagement. Their move towards openness and embracing data as the driver of progress is what sets decentralized finance apart as the next big thing that is security and strategy coming first.
