f(x) rUSDPrice

(RUSD)

rUSD is a decentralized stablecoin within the f(x) ecosystem that is specifically backed by Liquid Restaking Tokens (LRTs). It allows users to earn restaking yields and ecosystem points while holding a stable asset. In contrast, fxUSD is the protocol's flagship stablecoin, primarily backed by liquid staking tokens. While rUSD focuses on the restaking market, fxUSD is designed for broader liquidity and integration into newer leverage modules within the ecosystem.

No, rUSD is not an algorithmic stablecoin. It is a fully collateralized, and often over-collateralized, asset. It utilizes a specific mathematical invariant to split the volatility of the underlying collateral. This mechanism separates the asset into two parts: rUSD represents the low-volatility "stable" portion, while associated leverage tokens capture the high-volatility movements of the underlying collateral.

rUSD is the standard stablecoin which requires users to manually stake it in a Stability Pool to earn rewards. arUSD is the auto-compounding version of the token. It is designed for a "set-and-forget" experience, automatically reinvesting rewards and accruing points for the user. While rUSD is highly liquid and suitable for active trading, arUSD is tailored for passive yield seekers who want automated reward aggregation.

By using rUSD in the Stability Pool or through arUSD, users can simultaneously earn multiple layers of rewards. These include protocol-specific points, loyalty points from the underlying restaking providers, and EigenLayer points. Additionally, the protocol frequently runs campaigns where a portion of the native token supply is distributed to users who accumulate these points through the stablecoin pools.

Since rUSD is backed by Liquid Restaking Tokens, a significant de-peg of the underlying collateral could impact the collateral ratio. However, the protocol utilizes stability and liquidation triggers to protect the peg. If you simply hold rUSD, you are not at risk of liquidation. If you stake rUSD in the Stability Pool, your balance may be used to buy back liquidated collateral at a discount, which could decrease your rUSD balance while increasing your holdings of the underlying collateral.

Users can mint rUSD by depositing accepted Liquid Restaking Tokens into the protocol's official platform. It can also be acquired through supported decentralized exchanges and trading platforms. Currently, rUSD is native to the Ethereum Mainnet, which hosts the primary liquidity and point-earning mechanisms. The staking yield is variable, consisting of native restaking yields, protocol emissions, and potential gains from liquidation events.