f(x) Protocol Trading Competition Concludes: Champion Achieves 201% ROI, $FXN Potential Further Confirmed

On September 15, 2025, f(x) Protocol officially announced the successful conclusion of its inaugural trading competition. The event was held from August 14 to September 14, attracting numerous DeFi traders, with a prize pool of up to 10,000 $fxUSD. Participants competed for the highest ROI by opening leveraged positions exceeding a 500 USD threshold (supporting long and short operations with ETH and BTC), fully demonstrating the advantages of the protocol's no-funding-rate leverage mechanism in actual trading.

The competition champion was won by wallet address 0xcea1c8d02fc9542f93f8907792bdddd681e508ac, who stood out with an impressive +201.45% ROI and took the main share of the prize. Official data showed that participants fully utilized f(x)'s automatic rebalancing and 95% high LTV design to avoid liquidation risks and benefit from medium to long-term holdings. f(x) Protocol stated on platform X: "Thank you to all participants; this is not just a competition but the beginning of a new era for DeFi leverage." Subsequently, a celebratory Spaces held on September 18 attracted several community leaders, such as Twitter KOL Lin and Zhencheng Xiaodaoshi, to discuss future trends in leveraged trading.

As the core of the f(x) ecosystem, the $FXN token garnered significant attention during the competition. Although the protocol's TVL has reached 243 million USD, with fxUSD circulation exceeding 120 million USD, the $FXN market cap is only 4.3 million USD, and its FDV is 75 million USD. This valuation mismatch highlights its undervalued potential in the market. During the competition, the fxSAVE stable pool's annualized yield exceeded 13%, attracting over 100 million USD in deposits, further strengthening the ecosystem's stickiness. The team emphasized a growth-first strategy, having distributed 3.3 million USD in wstETH dividends to veFXN lockers over two years, with future revenue expected to grow exponentially.

Market observers noted that this competition was not just a trading frenzy but also a catalyst for the $FXN narrative. With no VC backing, community-based token distribution (49% allocated for long-term incentives), and integrations with Curve and Pendle, f(x) is poised to reach a cognitive inflection point. Referring to similar projects like $AERO (FDV approximately 2 billion USD), institutions estimate the fair value of $FXN to be 1000 USD per token, representing a potential 15-fold increase from the current price.
f(x) Protocol announced that the next round of competitions will launch soon, urging traders to stay tuned. "Our goal is not to make a little money now, but to make a lot later." In the DeFi cycle, $FXN is moving from controversy to explosion.