HypurrFi, the native decentralized lending protocol on HyperEVM, has announced plans to gradually cease brand operations and transfer the Mewler lending market infrastructure, based on Euler, to Euler for maintenance and operation. According to ChainCatcher, HypurrFi assured that all markets remain solvent and operational, with no security breaches or attacks, ensuring the safety of user deposits, collateral, and positions. Clearstar Labs will continue as the risk curator for Prime, Yield, and Earn vaults.
The announcement detailed that the HypurrFi Pooled market will undergo an orderly closure over the coming weeks to months, with new lending halted and borrowing limits gradually reduced to encourage user repayment migration. The USDXL interest rate has been increased to 30% to incentivize early debt repayment. Additionally, HypurrFi has launched a migration tool to assist users in transferring positions to Euler Prime and Yield markets. Future support for Hyperliquid will be integrated into Euler's official user interface.
HypurrFi emphasized that this adjustment is a proactive operational decision rather than a response to a security incident or emergency. The closure and liquidation of the Legacy and Pooled markets are expected to be completed by July 15, 2026.
Catherine
