f(x) Protocol USDfxUSD Price

f(x) USD (fxUSD) is a decentralized stablecoin issued by the f(x) protocol, backed by excess collateral in wstETH and WBTC. It is used as an underlying asset for opening leveraged positions (xPOSITION) on ETH and WBTC with minimal liquidation risk, and can also be minted directly by users against crypto assets through the fxMINT mechanism.

The stability of its peg to the dollar is ensured by a Stability Pool, which distributes returns from staking, protocol fees, and the issuance of the native FXN token, as well as arbitrage opportunities to maintain the peg through liquidity pools and an oracle-based buyback mechanism.