According to @Tetranode, centralized stablecoins on Ethereum represent roughly $110B of borrowed trust and systemic risk to ETH, while fxUSD is positioned as a crypto-native, censorship-resistant stablecoin that maximizes ETH and reinforces Ethereum’s security loop with each mint; this characterization and product positioning come directly from the author’s post. Source: @Tetranode on X. For traders, monitor any liquidity rotation from USDT/USDC into fxUSD pairs on Ethereum and shifts in gas usage, as higher on-chain activity directly increases ETH burn under EIP-1559, potentially affecting ETH’s net issuance and market structure. Source: Ethereum Foundation EIP-1559 overview.