Frax Finance and NEAR Protocol Announce Strategic Partnership
Frax Finance and NEAR Protocol Announce Strategic Partnership
馃 Partnership Bombshell
Frax Finance, the world's first fractional-algorithmic stablecoin protocol, has announced a strategic partnership with NEAR Protocol, a leading decentralized application platform. This collaboration aims to bring natively issued Frax-assets, including sFRAX and sfrxETH, to power NEAR's DeFi ecosystem and provide yields, incentives, and deep liquidity. Additionally, the partnership involves the development of a frxNEAR LSD system and the integration of NEAR's decentralized autonomous organization (DAO) into Fraxtal. This comprehensive partnership spans multiple layers of the technology stack, marking a significant milestone for both projects.
Extremely excited for this partnership between @NEARProtocol & @fraxfinance. Frax-assets including sFRAX & sfrxETH will power Near DeFi yields. 馃殌 In parallel we're already working on a frxNEAR LSD system & teaming up to integrate Near DA into Fraxtal. This is the first
The NEAR Ecosystem welcomes @fraxfinance on NEAR as it takes its first major leap into a non-EVM environment. This move increases diversity in the stablecoin landscape on NEAR, among other novel unlocks for DeFi and yield-bearing assets on NEAR. Let's. Fraxin. Go. Read more:
Frax is excited to announce a new strategic partnership with @NEARProtocol to bring natively issued Frax-assets to power NEAR's leading DeFi ecosystem! Get ready to enjoy the same Frax-asset yields, incentives, & deep liquidity now powering NEAR DeFi. 馃 And more to come soon馃か
The NEAR Ecosystem welcomes @fraxfinance on NEAR as it takes its first major leap into a non-EVM environment. This move increases diversity in the stablecoin landscape on NEAR, among other novel unlocks for DeFi and yield-bearing assets on NEAR. Let's. Fraxin. Go. Read more:
Frax Hires Former Mastercard Executive as VP of Strategic Initiatives
Frax has appointed Vince Dowdle as VP of Strategic Initiatives & Alliances, marking a significant step in expanding their institutional presence. The former Mastercard executive will focus on: - Building institutional relationships - Preparing for US payment stablecoin charter for frxUSD - Developing strategic partnerships This move aligns with Frax's commitment to US-based crypto innovation, following their support of organizations like @standwithcrypto and @coincenter. [Read the full announcement](https://www.prnewswire.com/news-releases/mastercard--startup-exec-joins-frax-to-spearhead-institutional-strategy-302424857.html)
Frax Pursues Payment Stablecoin Charter Under GENIUS Act
Frax is positioning to secure one of the first payment stablecoin charters globally for frxUSD under the US GENIUS Act legislation. This follows their recent launch of frxUSD, developed in partnership with BlackRock and Superstate Funds. Key features of frxUSD: - Separates issuance from custody - Offers cash mint/redeem capability - Maintains high on-chain yields via sfrxUSD - Supports 1:1 upgrades from legacy FRAX - Multi-chain deployment planned The stablecoin represents a strategic evolution in Frax's position as they adapt to increasing mainstream stablecoin adoption.
Frax Partners with Origin Protocol for New High-Yield Pool on Curve
Frax has launched a new yield-generating pool on Curve Finance in collaboration with Origin Protocol. The pool pairs frxETH with OETH and features LST (Liquid Staking Token) yield-boosted incentives. This follows Frax's recent expansion of yield opportunities, including their deployment on Fraxtal with dTRINITY_DeFi's lending loops and Ethena Labs integrations. - Pool is now live on Curve Finance - Features frxETH/OETH pairing - Includes LST yield boosting - Part of Frax's ongoing DeFi partnership strategy
Fraxtal Announces North Star Hard Fork and AI Integration Plans
Fraxtal, now a top 4 sovereign rollup with $300M TVL, announces major updates coming in February 2024: - Implementation of real-time blocks in 2025 - Partnership with IQWIKI for Agent Tokenization Platform - Development of AIVM (AI Virtual Machine) for onchain agents - Introduction of Frax Burn Engine (FBE) for gas fee management - FXTL tokenization with $FRAX tail emissions The protocol aims to excel in three key areas: decentralization/security, speed, and AI integration. Through Optimism Superchain, Fraxtal maintains Ethereum-level security while focusing on performance improvements and AI capabilities. *Note: Official updates only through Frax X and Telegram accounts.*
Ethena Labs Launches on Fraxtal L2 with New Curve Pools
**Ethena Labs** has launched on Fraxtal L2, introducing new Curve Finance pools for USDe/FRAX and sUSDe/FRAX trading pairs. Key features: - LPs earn trading yield plus 30X Ethena Ethereal points - All activities on Fraxtal earn $FXTL points - Assets can be bridged via Stargate Finance Fraxtal recently achieved $200M TVL and aims to become a central DeFi liquidity hub. The platform emphasizes security, warning users to access only through official channels. *Bridge your assets now to participate in the new liquidity pools.*