f(x) Protocol
FXN #2150Project Safety Score: 23%
Updated 2 hours, 51 minutes ago& Market
Credibility
Behavioral
Mechanics
Distribution
f(x) Protocol is a decentralized stablecoin and leverage trading system on Ethereum. Its core product is fxUSD, an overcollateralized stablecoin backed solely by stETH and wBTC, with no off-chain custody.
Users can borrow fxUSD against stETH or wBTC collateral for a flat one-time fee, or open leveraged long and short positions on ETH and BTC, which loop fxUSD against the same collateral for up to 7x exposure. Both paths mint fxUSD against the same backing.
Yield is generated from two real sources: stETH staking rewards on the underlying collateral, and fees paid by borrowers and leverage traders. That yield flows to the Stability Pool, where users can deposit fxUSD or USDC to earn it. The yield is organic, with no FXN emissions or token inflation funding it.
Risk Report
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
