Building a fully decentralized stablecoin is hard And doing it with zero borrowing costs seemed impossible fxUSD just hit $80M market cap, proving it works @cyrille_briere from @protocol_fx explains explains how they made it happen. Timestamps: 00:00 - Introduction 00:58 - How does fxUSD work? (and where yield comes from) 04:33 - Three key differences from regular CDPs 6:26 - Stablecoin landscape: only 0.3% are decentralized 9:02 - Defining decentralized stablecoins 11:25 - TVL growth 12:50 - Go-to-market strategy targeting DeFi leverage users 15:07 - Community-funded DAO: no VCs, no team allocation 16:36 - Liquidation break mechanism 19:50 - Stability pool and peg-keeping mechanisms 24:53 - Current fxUSD use cases 27:28 - Roadmap: shorts, limit orders, and new chain deployments 29:09 - Growing without VC pressure (or existential crisis)