f(x) Protocol
FXN Rank #1671Price chart
What is f(x) Protocol?
Overview
f(x) Protocol provides a decentralized stablecoin system where users can borrow fxUSD against crypto collateral or open leveraged long and short positions on ETH and BTC. The protocol serves traders and borrowers seeking on-chain leverage and stablecoin access with transparent, non-custodial backing. All fxUSD is collateralized exclusively by stETH and wBTC held on-chain.
How it works
The protocol operates on Ethereum, allowing users to deposit stETH or wBTC and borrow fxUSD against it via a flat one-time fee. Traders can amplify positions up to 7x leverage by looping fxUSD against the same collateral. Yield generated from staking rewards on underlying collateral and borrower fees accumulates in the Stability Pool, distributable to fxUSD or USDC depositors.
Token and supply
FXN has a maximum supply of 2 million tokens. Yield distribution to Stability Pool participants is funded by organic protocol revenue—staking yields and trading fees—rather than token emissions or inflationary issuance, preserving token value over time.
Where to trade FXN
Exchanges that list this asset
Live spot quotes from connected exchanges
FXN funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.