Frax Finance Launches FRXUSD Stablecoin with Treasury Backing
Frax Finance Launches FRXUSD Stablecoin with Treasury Backing
🏦 Frax's Treasury Play
Frax Finance introduces FRXUSD, a USD-pegged stablecoin maintaining a 1:1 dollar peg through overcollateralization.
Key features:
- Fully backed by tokenized U.S. Treasuries
- Designed to share value with DeFi protocols rather than extract it
- Aims to provide sustainable liquidity to partner platforms
The protocol positions FRXUSD as a safer alternative to centralized stablecoins, emphasizing its treasury-backed structure and DeFi-friendly approach.
🔄 Origin Protocol's ARM Links Secondary Markets to Primary Redemptions for Better eETH Liquidity
**Origin Protocol introduces innovative eETH liquidity solution** Origin's Automated Redemption Manager (ARM) presents a novel approach to eETH liquidity by connecting secondary market pricing directly to primary-market redemption mechanisms. **Key benefits:** - Improved pricing for instant eETH swaps - Enhanced returns for liquidity providers - Captures yield from natural LST price fluctuations - Turns peg maintenance into yield opportunities The ARM strategy already operates on Ethereum for stETH and on Sonic Labs. It wins trades across major DEX aggregators including Fly Trade, 1inch, and CoW Swap, with new incentives rolling out on Pendle. [Read the full case study](https://www.originprotocol.com/blog/arm-liquidity-in-defi?lang=en&category=all&page=1)
Ether.fi Enables Zero-Fee Euro Deposits and Spending Across Europe
**Ether.fi has launched zero-fee euro banking for European users.** Starting May 21, 2026, users can deposit and spend EURC stablecoins without foreign exchange fees. **Key features:** - Deposit via bank transfer or crypto wallet - 1:1 euro spending across web and mobile apps - Available throughout Europe - No FX fees on transactions **This builds on ether.fi's May 11 launch of the EURC Liquid vault**, which allows euro holders to earn yield through partnerships with K3 Capital and Midas RWA. The move follows a broader trend of zero-fee euro banking in crypto, with Binance having introduced fee-free SEPA Instant deposits for EEA users in November 2025. Users can access the service at [ether.fi/app](http://ether.fi/app).
Developer Joins Open Gas Initiative Cohort
A developer announced their participation in the **initial Open Gas Initiative cohort**, expressing pride in being selected for this Ethereum-focused program. The Open Gas Initiative appears to be a new program aimed at addressing gas-related challenges on the Ethereum network. Being part of the initial cohort suggests this developer is among the first participants in what could be an important infrastructure development effort. This follows the developer's previous involvement in Ethereum-based projects, indicating continued commitment to the ecosystem's growth and optimization.
Ether.fi Launches Travel Booking Platform with 10% Cashback Rewards
**Ether.fi has expanded into travel booking** with a new platform at travel.ether.fi offering competitive rates for holiday destinations. **Key features:** - 10% cashback on bookings - Claims to offer the cheapest rates available - Research-backed pricing verification This builds on their existing hotel booking service that previously offered 5% cashback through their mobile app. Users could book directly through the Ether.fi app after joining their Club program. **The travel platform represents Ether.fi's continued expansion** beyond traditional DeFi services into consumer-facing products with crypto rewards integration.