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ETH/fxUSD Market

Status: ✅ Deployed - Production v1 deployment on Ethereum mainnet

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

Market Overview​

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

  • haETH: Pegged token representing ETH exposure
  • hsFXUSD-ETH: Leveraged token with variable exposure to ETH

Contract Addresses (Mainnet)​

  • minter: 0xd6E2F8e57b4aFB51C6fA4cbC012e1cE6aEad989F
  • peggedToken: 0x7A53EBc85453DD006824084c4f4bE758FcF8a5B5 (haETH)
  • leveragedToken: 0x0Cd6BB1a0cfD95e2779EDC6D17b664B481f2EB4C (hsFXUSD-ETH)
  • reservePool: 0x7A5c4ca972CE2168d5215d252946dDbd1cAd2015
  • stabilityPoolManager: 0xE39165aDE355988EFb24dA4f2403971101134CAB
  • genesis: 0xC9df4f62474Cf6cdE6c064DB29416a9F4f27EBdC
  • priceOracle: 0x71437C90F1E0785dd691FD02f7bE0B90cd14c097 (fxUSD/ETH aggregator)
  • feeReceiver: 0xdC903fe5ebCE440f22578D701b95424363D20881 (TokenDistributor)
  • stabilityPoolCollateral: 0x1F985CF7C10A81DE1940da581208D2855D263D72
  • stabilityPoolLeveraged: 0x438B29EC7a1770dDbA37D792F1A6e76231Ef8E06
  • collateralToken: 0x085780639CC2cACd35E474e71f4d000e2405d8f6 (fxUSD)
  • wrappedCollateralToken: 0x7743e50F534a7f9F1791DdE7dCD89F7783Eefc39 (fxSAVE)

Token Details​

Pegged Token (haETH)​

  • Symbol: haETH
  • Description: Pegged token representing ETH exposure
  • Use Case: Stable exposure to ETH price movements
  • Address: 0x7A53EBc85453DD006824084c4f4bE758FcF8a5B5

Leveraged Token (hsFXUSD-ETH)​

  • Symbol: hsFXUSD-ETH
  • Description: Leveraged token with variable exposure to ETH
  • Use Case: Leveraged exposure to ETH with yield generation
  • Address: 0x0Cd6BB1a0cfD95e2779EDC6D17b664B481f2EB4C

Collateral Token​

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

Stability Pools​

Collateral Stability Pool​

  • Address: 0x1F985CF7C10A81DE1940da581208D2855D263D72
  • Rebalance Token: fxUSD (collateral)
  • Purpose: Liquidates positions using collateral

Leveraged Stability Pool (Sail Pool)​

  • Address: 0x438B29EC7a1770dDbA37D792F1A6e76231Ef8E06
  • Rebalance Token: hsFXUSD-ETH (leveraged token)
  • Purpose: Liquidates positions using leveraged tokens

Price Oracle​

The fxUSD/ETH price oracle (0x71437C90F1E0785dd691FD02f7bE0B90cd14c097) provides:

  • Rate Provider: fxSAVE vault (for fxUSD exchange rate)
  • Price Feed: ETH/USD Chainlink feed (inverted to get fxUSD/ETH)
  • 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: 24049488)

Genesis (Maiden Voyage)​

  • Start Date: December 19, 2025
  • End Date: January 4, 2026
  • Genesis Zap: 0x424D373141a845eB2822B2a8e5ED0f529Ece4F7a (GenesisUSDCZap_v2)