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Why f(x)?

f(x) Protocol is built to create a symbiotic system that decomposes ETH into two useful tokens.
For fETH, the goal is to produce a low volatility token which:
  1. 1.
    Is fully decentralized and Ethereum-native;
  2. 2.
    Minimizes volatility while retaining a small exposure to the market;
  3. 3.
    Can be minted and redeemed instantly in direct response to stablecoin demand;
  4. 4.
    Has maximum liquidity depth based on a multiple of demand for xETH, rather than a fraction of demand for CDPs.
Specifically for xETH, we create a leveraged long ETH token which:
  1. 1.
    Is fully decentralized and Ethereum-native;
  2. 2.
    Is composable, with liquidity on-chain;
  3. 3.
    Has an extremely low risk of liquidation.
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Last modified 23d ago