Silo Finance Launches sfrxUSD-scUSD Market with $3M Bootstrap
Silo Finance Launches sfrxUSD-scUSD Market with $3M Bootstrap
🏦 New DeFi Yield Just Dropped
Silo Finance has launched a new sfrxUSD-scUSD market on Sonic Labs, bootstrapped with $3M scUSD by Rings Protocol.
Key updates:
- Users can deposit sfrxUSD and borrow scUSD at favorable rates
- frxUSD is now accepted as collateral for scUSD
- Easy bridging available through frax.com
- Instant staking of frxUSD to sfrxUSD via LayerZero
The integration builds on recent developments including frxUSD backing for scUSD, which has reached $50M+ TVL. Users can stake scUSD to earn yields and qualify for $S airdrops.
1/ frxUSD is now backing @Rings_Protocol scUSD on @SonicLabs 💥 With $50M+ TVL and the top boost for the $S airdrop, scUSD plays a key role in driving liquidity on Sonic. Now you can mint scUSD by depositing our flagship stablecoin frxUSD. Get started: app.rings.money
$scUSD now supports $frxUSD as collateral! You can now use @fraxfinance's frxUSD as collateral to mint $scUSD on both Ethereum and Sonic. This integration enhances accessibility and choice for users. Start minting today!
1/ sfrxUSD-scUSD Market Live on @SiloFinance 🏦 Generously bootstrapped with $3M scUSD by @rings_protocol, early movers on @SonicLabs get rewarded. Deposit sfrxUSD here: v2.silo.finance/markets/sonic/…
1/ sfrxUSD on Sonic 💥 Led by fellow DeFi innovator @AndreCronjeTech, @SonicLabs is designed for DeFi first and is growing fast with $1B+ TVL. frxUSD is already on Sonic, and the benchmark yield of sfrxUSD will now also become a staple. Instantly staked via @LayerZero_Core.
Frax Share (FXS) Rebrands to Frax (FRAX) in North Star Upgrade
**Key Updates from Frax's North Star Upgrade:** - Frax Share (FXS) is now rebranded as Frax (FRAX) - FRAX becomes the ecosystem's sole commodity token and gas token on Fraxtal - The stablecoin FRAX has been upgraded to frxUSD **For Token Holders:** - FXS on Fraxtal: Automatic 1:1 conversion to FRAX - FXS on Ethereum: Bridge to Fraxtal via [frax.com/swap](http://frax.com/swap) for 1:1 conversion **Security Notice:** Exercise caution with links. Only use official Frax channels and website for transactions.
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.*