TechFlow News, June 8: Charlie (@0xBroze), co-founder of the Felix Protocol, announced that Felix’s HIP-3 DEX and all spot markets will begin shutting down on June 19 and complete shutdown by June 20. All traders must close their active positions before then. The Felix team conducted a post-mortem analysis, noting that competitor TradeXYZ successfully established a growth flywheel and gained market dominance by launching earlier, pricing in USDC (rather than Felix’s USDH), rapidly expanding its number of markets, and leveraging airdrop-driven brand effects. Although Felix launched first in markets such as OIL, GOLD, and SILVER—and recorded approximately $3 billion in trading volume—it was ultimately overtaken by TradeXYZ. Felix stated that the DEX shutdown will not affect its lending or spot stock trading businesses, and the team will continue focusing on upgrading and iterating these core products.
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