f(x) Protocol
f(x) Protocol is a decentralized stablecoin and leveraged trading system on Ethereum. Its core product is an overcollateralized stablecoin backed solely by staked Ethereum and wrapped Bitcoin, with no off-chain custody involved. Users can use staked Ethereum or wrapped Bitcoin as collateral to borrow the stablecoin and pay a fixed one-time fee; they can also open leveraged long and short positions on ETH and BTC by repeatedly using the stablecoin against the same collateral to obtain exposure of up to 7x. Both paths mint the stablecoin with the same backing assets. Revenue comes from two real sources: staking rewards from the underlying staked Ethereum and fees paid by borrowers and leveraged traders. These revenues flow into the Stability Pool, where users can deposit the stablecoin or USDC to earn yield. Yield is generated organically, not funded by FXN emissions or token inflation.
Overview
f(x) Protocol is a decentralized stablecoin and leveraged trading system on Ethereum. Its core product is an overcollateralized stablecoin backed solely by staked Ethereum and wrapped Bitcoin, with no off-chain custody involved. Users can use staked Ethereum or wrapped Bitcoin as collateral to borrow the stablecoin and pay a fixed one-time fee; they can also open leveraged long and short positions on ETH and BTC by repeatedly using the stablecoin against the same collateral to obtain exposure of up to 7x. Both paths mint the stablecoin with the same backing assets. Revenue comes from two real sources: staking rewards from the underlying staked Ethereum and fees paid by borrowers and leveraged traders. These revenues flow into the Stability Pool, where users can deposit the stablecoin or USDC to earn yield. Yield is generated organically, not funded by FXN emissions or token inflation.