fxUSD
fxUSD
active
Crypto Backed
USD
Yield-Bearing
Market Cap $56M
fxUSD is f(x) Protocol's USD-pegged stablecoin. The official site states that fxUSD is backed by wstETH and WBTC and can be minted or redeemed through protocol mechanisms rather than through fiat reserves.
Key Data
| Backing | wstETH collateral; WBTC collateral |
| Auditor | Secbit; Trail of Bits; OpenZeppelin |
| Redemption | Protocol documentation states that fxUSD can be redeemed at oracle price for reserve collateral, including stETH or WBTC depending on reserve composition. |
| Peg Currency | USD |
| Yield-Bearing | Yes |
| Launched | 2024 |
Supported Networks
L1 EVMEthereum
Cross-Chain Supply ($55M total)
Use Cases
Defi CollateralSettlement
Overview
fxUSD is f(x) Protocol's USD-pegged stablecoin. The official site states that fxUSD is backed by wstETH and WBTC and can be minted or redeemed through protocol mechanisms rather than through fiat reserves.
Key Features
- Collateral split into a stablecoin component and leveraged xPOSITION exposure
- fxUSD is fully collateralized rather than algorithmic
- Stability mechanisms include an fxUSD/USDC pool and a stability pool peg keeper
- fxMINT allows minting fxUSD against ETH or WBTC with no annual interest rate
Reserve Backing
wstETH collateral; WBTC collateral.
Other USD Stablecoins
Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.