CDPs · Review
ActiveFlux Review 2026: Radix CDP for Borrowing fUSD Against XRD
Flux is a beta CDP protocol on Radix that lets users borrow the fUSD stablecoin against XRD or staked XRD at user-set interest rates. Its TVL is tiny and no audits are listed, so it suits experimenters only.
By the DappsAtlas editorial team · Updated
DappsAtlas score
4.5/10
Weak
Our verdict on Flux
4.5/10Flux suits experienced Radix users who want to borrow a stablecoin against XRD or staked XRD and are comfortable with beta software. Its main strength is a focused design with user-set interest rates and support for staked collateral. The main caveat is scale and assurance: TVL is about $368, no audits are listed, and the project calls itself beta. Treat it as an experiment and size positions accordingly.
Score breakdown
How Flux scores
- Security
- 3.5/10
- Ease of use
- 6.0/10
- Fees
- n/a
- Features
- n/a
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Flux?
Flux is a decentralized borrowing protocol on the Radix network. It lets users take out loans in its fUSD stablecoin against XRD or staked XRD, with interest rates that borrowers set themselves.
DefiLlama lists Flux in the CDP category, on Radix only, since June 2025. TVL is about $368, up roughly 51% over seven days, though from a very small base. DefiLlama shows no audits and no token of its own, while the homepage references an ILIS token.
The homepage says Flux is in beta and asks users to join Telegram to report issues. The interface covers Dashboard, Borrow, Earn and Governance sections, plus Docs, Terms and Stats.
How Flux works
Flux is a collateralized debt position (CDP) protocol. A user deposits XRD or staked XRD (LSULP) as collateral and mints fUSD, a stablecoin, as a loan. The loan must stay overcollateralized, with a maximum LTV of 66.67% shown on the homepage.
Interest rates are set by the borrower. In protocols of this design, a higher rate generally makes a position less likely to be redeemed first when fUSD is redeemed for collateral. The project does not detail Flux's exact redemption or liquidation mechanics, so check the Docs.
On the other side, fUSD holders can deposit into Flux Reservoirs (XRD/fUSD and LSULP/fUSD) to earn fUSD and staked XRD rewards. The homepage also shows a Burn ILIS function and a Governance section.
6 features
Key features
01
Overcollateralized fUSD loans
Users lock XRD or LSULP and borrow fUSD, with a stated maximum LTV of 66.67%.
02
User-set interest rates
Borrowers choose their own interest rate rather than accepting a single protocol-wide rate, per DefiLlama's description.
03
Flux Reservoirs
fUSD holders can deposit into XRD/fUSD or LSULP/fUSD reservoirs to earn fUSD and staked XRD rewards.
04
fUSD redemption
The interface offers a Redeem fUSD action, which is part of how the stablecoin is kept tied to its target.
05
Governance and ILIS
The homepage links to a Governance section and a Burn ILIS function, suggesting a community-governed protocol.
06
Position dashboard
The site has a Dashboard to view and manage open positions, plus Docs, Terms and Stats pages.
Pros and cons
What we like
- Clear purpose: borrow a stablecoin against XRD or staked XRD without selling
- User-set interest rates give borrowers control over their cost
- Accepts staked XRD (LSULP), so collateral can keep earning staking yield
- Earn option for fUSD holders via reservoirs paying fUSD and staked XRD
- Docs, Terms and Stats pages are linked from the site
Watch out for
- Very small TVL (about $368 on DefiLlama), so liquidity and market depth are minimal
- Still labelled beta by its own homepage
- No audits are listed on DefiLlama
- Limited to the Radix ecosystem, with only XRD and LSULP shown as collateral
- Fees, interest ranges and liquidation parameters are not stated on the homepage
- Overcollateralized loans in a volatile asset carry liquidation risk
Flux fees
Fees are not published publicly available here. The homepage shows an Avg Interest column for each collateral type and a Pool APR column for reservoirs, but no values appear in the extracted text.
Because borrowers set their own interest rates, the cost of a loan depends on the rate chosen and market conditions. Check the Borrow and Earn pages, the Docs and the Terms for current rates, any origination or redemption fees, and Radix network fees.
Is Flux safe?
DefiLlama lists no audits for Flux, and the homepage says the protocol is in beta. Smart-contract bugs, oracle problems and fUSD depegging are all possible risks for a young CDP system. Public sources name no team and no custody model beyond on-chain collateral.
TVL of about $368 means little real-world usage, so the protocol is largely untested at scale. Borrowers also face liquidation or redemption if XRD falls or their interest rate is low relative to others. Read the Terms and check local rules before using it.
7 steps
How to get started with Flux
- 1
Read the Docs and Terms on the official site, and note that the project is in beta.
- 2
Install a Radix wallet and fund it with XRD or staked XRD (LSULP).
- 3
Connect the wallet on the Flux site and open the Borrow page.
- 4
Pick a collateral type, choose a conservative loan size well below the 66.67% maximum LTV, and set an interest rate.
- 5
Monitor your position on the Dashboard and keep a buffer against price drops.
- 6
If you hold fUSD, consider the Earn page to deposit into a reservoir, after checking current APRs.
- 7
Join the Telegram to report issues or ask questions, as the homepage suggests.
Who Flux is for
Flux is for Radix holders who want liquidity from XRD or LSULP without selling and who understand CDP risks such as liquidation and redemption. It is not suited to newcomers or anyone who needs audited, deeply liquid infrastructure.
Flux FAQs
What is Flux?
Flux is a decentralized borrowing protocol on Radix. Users lock XRD or staked XRD as collateral and borrow a stablecoin called fUSD, choosing their own interest rate.
What is the maximum LTV on Flux?
The homepage shows a maximum loan-to-value of 66.67% for both XRD and LSULP collateral. That means you can borrow up to about two thirds of your collateral's value, and a falling collateral price brings liquidation risk closer.
Is Flux safe?
The homepage shows the project as in beta, and DefiLlama lists no audits. Its TVL is about $368, so the protocol is very small. Treat it as experimental and only risk what you can afford to lose.
How do I earn with Flux?
The homepage describes Flux Reservoirs, where you deposit fUSD to earn fUSD and staked XRD rewards. Pools shown are XRD/fUSD and LSULP/fUSD. Current APRs are not public available here.
Does Flux have a token?
DefiLlama lists no token for Flux. The homepage references an ILIS token and a Burn ILIS option, but the project does not describe its role in detail.
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How we checked
Sources
Last updated . Spotted an error? Tell us and we will correct it.