APR

Annual percentage rate, shown as the primary metric.

APY

Annual percentage yield. If not provided by the source, it may be calculated from APR with daily compounding.

Collateral ratio

Ratio of collateral value to fxUSD minted. When it falls below the protocol minimum threshold, liquidation is triggered.

fxSAVE

Savings / stability product related to the f(x) ecosystem, often used as a base yield venue or collateral.

fxUSD

Stablecoin minted through the f(x) protocol and used across multiple DeFi opportunities.

Leverage tranche

xETH in f(x) Protocol. Absorbs ETH price volatility to keep fxUSD stable. xETH holders receive amplified ETH price exposure in exchange.

Liquidation

Occurs when a fxMINT position falls below the minimum collateral ratio. The Stability Pool repays the outstanding debt and the collateral is distributed to pool depositors.

Looping

A strategy that recursively borrows and redeposits to increase exposure and yield, while increasing risk.

NAV rebalance

Protocol mechanism that adjusts collateral accounting to maintain the fxUSD peg during large ETH price movements.

PT

Principal Token, usually associated with fixed maturity markets such as Pendle or Spectra.

Rebase pool

A pool that automatically adjusts token balances to reflect accrued yield without requiring manual claims from depositors.

Soft peg

A peg maintained by market incentives and protocol mechanisms rather than 1:1 USD backing. Deviation is possible in extreme market conditions.

Stability Pool

fxUSD reserve pool. Absorbs under-collateralized fxMINT positions by repaying their debt. Depositors earn liquidated collateral (at a discount) plus protocol rewards.

TVL

Total Value Locked, used as the default sorting metric.

xETH

The leveraged tranche of f(x) Protocol. Absorbs ETH price volatility on behalf of fxUSD holders, providing amplified ETH price exposure to xETH holders.

YT

Yield Token, representing the future yield portion of an asset for a defined maturity.