The market still misunderstands what $FXUSD actually is.
It's easy to group it with every other stablecoin, but the design is fundamentally different.
$FXUSD is minted against yield-bearing collateral, so the assets backing it don't sit idle. They continue generating yield that helps power the protocol instead of relying on inflationary token emissions.
That's also why the recent growth has been interesting to watch.
While others compete for liquidity with incentives,
@protocol_fx has been expanding utility through integrations, new products, and real protocol revenue.
Most stablecoins rent liquidity, $fxUSD earns it.