Smeared link fermion actions have gained popularity over the last few years. Smearing removes most of the unphysical fluctuations of the gauge vacuum improving chiral symmetry of the fermions. This effect is most evident in the improved flavor symmetry of staggered fermions and the topological properties of dynamical systems. In this talk I will describe the hypercubic blocked (HYP) smeared action, discuss its properties and give a brief overview of our newly developed method to simulate dynamical HYP fermions.