f(x) Protocol
About
Leverage without limits: sustainable yields and security for your crypto journey
f(x) Protocol: A DeFi protocol on Ethereum offering a decentralized stablecoin (fxUSD) backed by staked ETH. It enables non-liquidatable leverage on ETH & BTC, delivering USD-based yields to fxUSD stakers. Features include fixed leverage, minimal liquidation risk, and zero funding costs.
Use Cases
Non-liquidatable Leverage Trading
Traders use fixed leverage tokens to gain up to 7x exposure on ETH/BTC withoutrisk of liquidation.
Stablecoin Yield Generation
Crypto holders stake fxUSD or USDC in the stability pool to earn high, USD-basedyields securely.
Risk-Managed Long/Short Positions
Investors take long or short positions with minimal liquidation risk viarebalancing leverage.
Decentralized Stablecoin Usage
Users transact with fxUSD, a stablecoin fully backed by staked ETH, ensuringstability and trust.
Key Features
Leverage and Trading
- f(x) Protocol enables non-liquidatable leverage on ETH & BTC.
- It delivers USD-based yields to fxUSD stakers.
- The protocol splits yield-bearing assets into a decentralized stablecoin and aleveraged asset.
- Users can choose fixed leverage levels of up to 7x on ETH and BTC, and openleveraged short positions up to 6x.
- f(x) Protocol uses a rebalancing mechanism to minimize liquidation risk.
Stablecoin Features
- fxUSD is fully collateralized with top-tier DeFi assets, specifically Lido'sstETH.
- Stablecoins can be minted and redeemed at the oracle price.
- The fxUSD stability pool offers yields derived from stETH staking,xPOSITION/sPOSITION opening fees, and FXN emissions.
- The stability pool purchases fxUSD when it trades below peg and sells it backto USDC when it trades above.
- fxUSD can be redeemed at the oracle price for stETH or WBTC if it ever tradesbelow peg.
