f(x)FXN

f(x) is an ETH-based leveraged protocol designed to meet the demand for stable assets in the cryptocurrency sector, while mitigating the risks associated with centralization and improving capital efficiency. The f(x) protocol introduces a new concept called "floating stablecoin" or fETH. fETH is not pegged to a fixed value; instead, it gains or loses a small portion of the changes in the price of native Ethereum (ETH). Additionally, a complementary asset called xETH has been created, which serves as a zero-cost means to leverage long positions in ETH. xETH absorbs most of the price fluctuations of ETH, thereby stabilizing the value of fETH.