The most substantive recent discussion around f(x) Protocol comes from a September 2025 podcast interview with founder Cyrille Brière, which laid out the protocol's core design and positioning. f(x) Protocol offers a leverage product with up to 7x directional leverage on ETH and BTC, using a "progressive liquidation" mechanism that reduces risk and avoids hard liquidations — a contrast to traditional collateralized debt positions (CDPs), where a position can be abruptly closed when collateral value falls below a threshold . The protocol's stability mechanism relies on a decentralized stability pool holding fxUSD and USDC that automatically buys or sells to keep fxUSD pegged to $1, supported by organic fee-generated incentives . fxUSD is described as fully collateralized with exogenous assets (primarily USDC) and employs multiple layers of peg-keeping, including a stability pool, temporary funding costs, and a redemption process, enabling yields of roughly 12–13% that are sustainable due to on-chain, automated yield strategies .

No other 2025 events specific to f(x) Protocol fxUSD were identified in the available information.