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Euler Finance Takes Over HypurrFi Mewler Markets, HypurrFi Winding Down @EulerFinance is taking over the maintenance and operation of the Euler contract stack known as Mewler on Hyperliquid EVM. HypurrFi is engaged in a clean handoff of infrastructure to Euler. Clearstar Labs remains as the risk curator for Prime, Yield, and Earn vaults. The HypurrFi Scale and Pooled Markets will be deprecated in an orderly wind down over the next several weeks. HypurrFi Positions are Safe and Operational All HypurrFi Markets remain solvent and operational. There is no security breach, and there are no parameter changes to the Euler markets. Most Pooled assets have had new lend and borrow frozen, but HYPE, USDC, and USDT0 remain available to lend as borrowers unwind their positions. The Euler isolated lending architecture on HyperEVM is not going anywhere. It is a powerful home for derivatives lending on Hyperliquid, and it will continue under Euler and Clearstar Labs stewardship. Your deposits, your positions, your collateral are all intact. What is happening - Euler Finance will be the front-end home for Prime, Yield, and future markets on HyperEVM. - Clearstar Labs continues as risk curator building efficient, risk isolated markets on Euler - The HypurrFi brand will be retired - The Pooled Market has been adjusted to prevent more debt from being issued, HYPE/USDC/USDT0 remain available for supply to give borrowers time to repay, the remaining markets have been frozen for new borrow and lend - USDXL rates have been set at 30% to incentivize repayment long before market closure - HypurrFi Support remains available until May 28th, after which Discord will be closed - A migration tool to help you move from Pooled to Euler Markets has been added to the UI in the Pooled Dashboard - Hyperliquid support will be added to the Euler UI over the coming days - Hyperscan .com will continue to be available, we are working with Enigma to keep it running and expand its capabilities as a testnet explorer - The HypurrFi Card and HypurrFi Points have been discontinued Why-purrFi? Building on Hyperliquid EVM from day one was the right call. The markets we built, the infrastructure we shipped, and the contributions to the ecosystem were real. But the right next step for these markets is under the Euler brand and infrastructure with Clearstar Labs continuing risk curation. We hope the contributions to the early days of Hyperliquid EVM market infrastructure, chain support, and community guidance and growth was valuable in its own right. We look forward to being active users and contributors in the Hyperliquid ecosystem going forward, independent of the HypurrFi brand. Pooled Market Migration to Euler Prime and Yield The Pooled market is closing. New borrowing has been suspended. Lending caps will be reduced over the coming weeks and months to encourage repayment and an orderly unwind. There is no security breach. No exploit. No emergency. This is a deliberate operational decision. Why Pooled is closing Pooled served its purpose in the early days of Hyperliquid EVM. It launched under a different set of parameters than other pooled lending models onchain, and it worked for bootstrapping initial liquidity. But it carries significant operational and security overhead, and new borrower demand on HyperEVM has consistently favored the Euler markets for derivatives. Euler Prime and Yield offer modular, isolated lending with transparent risk and yield models per market. That's where new activity is, and that's the architecture worth consolidating around. What to expect - This is a weeks-to-months process, not overnight - New borrows in Pooled are suspended - Lending caps will be reduced gradually to encourage repayment - Lend and borrow rates in Pooled may be volatile during this period as lenders withdraw and borrowers repay - Market parameters for fees, kink rates, and caps will tighten over time to keep the migration moving until a full wind down and settlement of the Legacy and Pooled markets July 15th, 2026. How to migrate A migration wizard has been built into the HypurrFi UI. It walks you through moving your position from Pooled/Legacy to the Euler Prime or Yield market that fits your risk profile. HypurrFi Team support is available to support education around Euler positions and markets. **Lenders:** Withdraw from Pooled, deposit into a Prime or Yield market. **Borrowers:** Repay your Pooled position, migrate collateral to Prime or Yield, reopen your borrow in Prime or Yield if you still want the exposure. Rates during transition Expect rate volatility. As lenders pull liquidity from Pooled, utilization will increase, and borrow rates will climb. This is intentional. Rising rates incentivize repayment and accelerate the migration. If you're a borrower in Pooled, moving sooner means better rates. USDXL USDXL is a collateralized debt token minted from Pooled, so it also needs to be repaid. However, USDXL is a hybrid backed CDP, so there is additional backing USDT0 available for redemptions to cover USDXL in the market not covered by debt positions. USDXL debt repayment and USDT0 backing fully overcollateralizes the existing supply of USDXL. Simplified: there is more backing in the market than USDXL, so redemptions via debt repayment and USDT0 will smooth this transition. If you have an open USDXL borrow position, repay it. If you hold USDXL and want to redeem for USDT0, use the USDXL page on the HypurrFi app. Mewing Thank you for giving HypurrFi an honest try. Please join the community Telegram for discussion around this process, and file a ticket in Discord if you require additional assistance. Please be wary of security measures in this time. Scammers will try to attack you as impersonators and fake links. Only use official links posted form official sources, and chat with support only in Discord support tickets. Your security is of utmost importance in this transition. And finally, Hyperliquid.

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