New Protocol f(x) $rUSD stablecoin, backed by Ether.fi's restaking token, mints 500 $weETH cap within hour of launch

f(x) Protocol, a DeFi stablecoin and leverage platform on Ethereum, has launched rUSD, a new stablecoin backed by liquid restaking tokens (LRTs), and opened its first pool using Ether.fi’s weETH as collateral. According to the project’s announcement on X, the initial mint cap of 500 weETH worth of rUSD was fully used within about an hour of launch, indicating strong early demand for borrowing against Ether.fi restaked ETH exposure. rUSD extends f(x) Protocol’s existing fxUSD model to LRT collateral, using the same mechanism of splitting yield-bearing assets into a low-volatility stablecoin leg and a leveraged volatility leg. Strategically, this launch positions f(x) Protocol at the intersection of the fast‑growing restaking and LRT markets, where Ether.fi is one of the largest players with its weETH tokenized restaked ETH. By allowing users to mint rUSD against weETH, the protocol enables additional leverage and liquidity on top of restaked ETH yields, while keeping the underlying restaking exposure intact. For f(x) Protocol, a quickly maxed-out 500 weETH cap serves as an early signal of product–market fit for LRT-backed stablecoins and sets the stage for potential cap increases, more LRT integrations, and deeper DeFi liquidity around rUSD as a new collateralized dollar asset in the ecosystem.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

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• Modern Stablecoins, How They're Made: F(x) Protocol 2.0 - MixBytes (mixbytes.io)
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• Restaking
• Token Launch