Frax Distributes First Week of Rewards for frxUSD Usage Campaigns on EtherFi
Frax Distributes First Week of Rewards for frxUSD Usage Campaigns on EtherFi
💰 First Rewards Drop
Frax has distributed the first week of rewards for two concurrent campaigns incentivizing frxUSD usage on EtherFi Cash throughout April.
Campaign Details:
- Hold & Transact: First 50 users earn $50 by maintaining a $500 average balance for 30 days and completing 10+ transactions
- Weekly Top Spender: Highest frxUSD spender each week wins $500 (weeks start Thursdays at 0 UTC)
The campaigns aim to reward both new users getting started with frxUSD and existing users actively utilizing the stablecoin within the EtherFi ecosystem.
1/ New reward campaigns are live for frxUSD on @ether_fi 🎁 We’re kicking things off with two ways to earn for using frxUSD in EtherFi Cash, whether you’re getting started or already putting your frxUSD to work. More details below 👇
3/ 🎁 Campaign 2: Weekly Top Spender Each week, the highest frxUSD spender on EtherFi wins $500 🤯 Weeks start Thursdays at 0 UTC.
2/ 🎁 Campaign 1: Hold & Transact Earn $50 in frxUSD by: ¤ Maintaining an average balance of at least $500 for 30 days ¤ And completing 10+ transactions This campaign is limited to the first 50 qualifying users.
This April, you're not only getting paid to eat with @ether_fi, you're also getting paid to use frxUSD! We’re running two reward campaigns over the next month, and we’ve just distributed our first week’s rewards🎁
This April, get paid to eat. (No, this is not a joke.) Introducing the Dine Different campaign: → Invite your friends, get 10% of their spend → Your friends get 10% cashback on food Start earning today at ether.fi/refer/twitter
Frax Partners with Aave to Address rsETH Incident Through DeFi United Collaboration
**Frax is working directly with Aave to help resolve the rsETH incident** that occurred on April 18, 2026. Despite having no direct exposure to the issue, Frax is participating in the DeFi United effort to restore stability to Aave markets. **Key developments:** - Multiple commitments are in place to restore rsETH backing - [Lido Finance](https://twitter.com/LidoFinance) has published a DAO proposal to join the recovery effort - Aave service providers are leading the collaborative response This incident comes as frxUSD has been rapidly expanding on Aave V4, where it launched as a day-one stablecoin. Aave has progressively raised frxUSD caps as part of its security-first rollout strategy. The collaboration demonstrates ecosystem-wide coordination during critical moments, with priority given to achieving the best outcome for affected users.
Frax Proposes Governance Vote for Aave Market Support Strategy
Frax is preparing to introduce a governance proposal focused on supporting Aave markets through a structured, incentive-aligned framework. **Key Points:** - The proposal aims to create mutual benefits as Frax assets expand within Aave's ecosystem - Details of the incentive structure will be outlined in the upcoming governance vote - This follows Aave's broader strategy to position itself as core global financial infrastructure The initiative represents a collaborative approach between the two DeFi protocols, with Frax seeking community input on how to best integrate and support its assets on Aave's lending platform.
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Etherscan Launches Cross-Chain Page, Fraxtal Sees $1M Daily Inflows
Etherscan has launched a new cross-chain transactions page, where **Fraxtal ranks #7** with over **$1 million in inflows** within 24 hours. Fraxtal's hub-and-spoke architecture positions it as a **central liquidity hub**, enabling users to hold high-performance assets across **20+ chains**. This design facilitates seamless cross-chain asset movement and liquidity distribution. The ranking demonstrates growing adoption of Fraxtal's infrastructure for multi-chain asset management.
frxUSD Surpasses 1,000 Transactions on EtherFi
The frxUSD stablecoin has reached a milestone of over 1,000 transactions on EtherFi's platform. **Key Updates:** - Week 3 rewards have been distributed to participants - 12 hours remain to qualify for Week 4 rewards - Users earn rewards by selecting frxUSD as their default stablecoin for spending on EtherFi The program continues to attract participants, with an increasing number of winners each week. Users can still join the rewards program by making transactions with frxUSD on the [EtherFi platform](https://ether.fi).