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BTC/fxUSD Market

Status: ✅ Deployed - Production v1 deployment on Ethereum mainnet

The BTC/fxUSD market allows users to mint pegged tokens (haBTC) and leveraged tokens (hsFXUSD-BTC) using fxUSD (via fxSAVE) as collateral.

Market Overview​

This market uses fxUSD (via fxSAVE vault) as collateral to mint:

  • haBTC: Pegged token representing BTC exposure
  • hsFXUSD-BTC: Leveraged token with variable exposure to BTC

Contract Addresses (Mainnet)​

  • minter: 0x33e32ff4d0677862fa31582CC654a25b9b1e4888
  • peggedToken: 0x25bA4A826E1A1346dcA2Ab530831dbFF9C08bEA7 (haBTC)
  • leveragedToken: 0x9567c243F647f9Ac37efb7Fc26BD9551Dce0BE1B (hsFXUSD-BTC)
  • reservePool: 0xfDE46D4425138aA01319bB8587Cb935a0393DfE3
  • stabilityPoolManager: Not deployed (uses shared manager)
  • genesis: 0x42cc9a19b358a2A918f891D8a6199d8b05F0BC1C
  • priceOracle: 0x8F76a260c5D21586aFfF18f880FFC808D0524A73 (fxUSD/BTC aggregator)
  • feeReceiver: 0x70DdA12032335656b63435840Cd55ff7A19dDAb7 (TokenDistributor)
  • stabilityPoolCollateral: 0x86561cdB34ebe8B9abAbb0DD7bEA299fA8532a49
  • stabilityPoolLeveraged: 0x9e56F1E1E80EBf165A1dAa99F9787B41cD5bFE40
  • collateralToken: 0x085780639CC2cACd35E474e71f4d000e2405d8f6 (fxUSD)
  • wrappedCollateralToken: 0x7743e50F534a7f9F1791DdE7dCD89F7783Eefc39 (fxSAVE)

Token Details​

Pegged Token (haBTC)​

  • Symbol: haBTC
  • Description: Pegged token representing BTC exposure
  • Use Case: Stable exposure to BTC price movements
  • Address: 0x25bA4A826E1A1346dcA2Ab530831dbFF9C08bEA7
  • Note: Shared with BTC/stETH market

Leveraged Token (hsFXUSD-BTC)​

  • Symbol: hsFXUSD-BTC
  • Description: Leveraged token with variable exposure to BTC
  • Use Case: Leveraged exposure to BTC with yield generation
  • Address: 0x9567c243F647f9Ac37efb7Fc26BD9551Dce0BE1B

Collateral Token​

  • fxUSD: fxUSD stablecoin (0x085780639CC2cACd35E474e71f4d000e2405d8f6)
  • fxSAVE: fxSAVE vault (wrapped fxUSD with yield) (0x7743e50F534a7f9F1791DdE7dCD89F7783Eefc39)

Stability Pools​

Collateral Stability Pool​

  • Address: 0x86561cdB34ebe8B9abAbb0DD7bEA299fA8532a49
  • Rebalance Token: fxUSD (collateral)
  • Purpose: Liquidates positions using collateral

Leveraged Stability Pool (Sail Pool)​

  • Address: 0x9e56F1E1E80EBf165A1dAa99F9787B41cD5bFE40
  • Rebalance Token: hsFXUSD-BTC (leveraged token)
  • Purpose: Liquidates positions using leveraged tokens

Price Oracle​

The fxUSD/BTC price oracle (0x8F76a260c5D21586aFfF18f880FFC808D0524A73) provides:

  • Rate Provider: fxSAVE vault (for fxUSD exchange rate)
  • Price Feed: BTC/USD Chainlink feed (inverted to get fxUSD/BTC)
  • Purpose: Determines collateral value and minting/redemption rates

See Price Oracle Contracts for detailed information.

Market Parameters​

  • Collateral Type: fxUSD (via fxSAVE vault)
  • Leverage Mechanism: Variable leverage based on collateral ratio
  • Yield Source: Yield from fxSAVE vault
  • Rebalancing: Via stability pools
  • Deployment: Mainnet deployment December 2025 (startBlock: 24049375)

Genesis (Maiden Voyage)​

  • Start Date: December 19, 2025
  • End Date: January 4, 2026
  • Genesis Zap: 0xF012a1BA66a411404FEae0a2AeD68dEB18D7de32 (GenesisUSDCZap_v2)