Frax Integration and Utility Expansion on NEAR Protocol
Frax Integration and Utility Expansion on NEAR Protocol
馃殌 Stablecoin Adoption Soars
The decentralized finance protocol Burrow Finance has facilitated further integration and utility growth for the fractional-algorithmic stablecoin Frax on the NEAR Protocol blockchain. Frax, a pioneering stablecoin partially backed by collateral and partially stabilized through algorithmic mechanisms, continues to gain traction across various blockchain ecosystems.
$FRAX integrations & utility continue to increase on @NEARProtocol thanks to DeFi protocol @burrow_finance 馃殌
馃敟Frax Borrowing Coming to Burrow with 80% Collateral Factor Frax entered the #NEAR ecosystem through Burrow on 28th Feb 2024, marking a significant milestone. Total #FRAX supply: 2.58M on Ref Finance and 2.79M on Burrow. As a stablecoin, Frax ensures stability with a fully
Frax Announces Stablecoin OS Vision and New Social Media Strategy
Frax has announced plans to build the first Stablecoin OS, aiming to capture the anticipated trillion-dollar onchain stablecoin market. The project is launching two distinct social media channels: - @fraxfinance: Focuses on DeFi integrations and yield pools - @frax: Dedicated to strategic vision, partnerships, and the future of frxUSD and Fraxtal This follows their recent launch of frxUSD, a new stablecoin developed in partnership with BlackRock and Superstate Funds. The token offers cash mint/redeem functionality while maintaining high onchain yields through sfrxUSD. Legacy FRAX holders can upgrade to frxUSD 1:1 via frax.com on Ethereum, while Fraxtal users receive automatic upgrades.
Frax Expands sfrxUSD to Sei Network
Frax has integrated sfrxUSD with Sei Network, enhancing stablecoin functionality across DeFi applications including jlyvrs and synnax_labs. Key updates: - Direct conversion between frxUSD and sfrxUSD now available on Sei - Integration powered by LayerZero Core technology - Simple staking/unstaking process through [frax.com/earn](https://frax.com/earn) This expansion follows recent integrations with Sonic Labs and other platforms, demonstrating Frax's continued cross-chain growth strategy. *Security Note: Users should only access services through official Frax channels to avoid phishing attempts.*
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.*