Frax

Frax Finance has announced that several of its assets, including FRAX, FXS, cvxFXS, FPI, FPIS, frxETH, and sfrxETH, are now available on Stably Ramp. Users can trade these assets with transaction fees as low as 0.5%. The assets are available in over 170 countries/regions, except the US, and can be bought with Visa and Mastercard. SWIFT sell option coming soon.

The restaking limit for sfrxETH on KelpDAO has reached 20% capacity. The EigenLayer unpause has been delayed until February 5th, giving users a few more days to participate and earn multiple airdrops.

Users can now participate in new sets of $FXB auctions on both Arbitrum and mainnet CurveFinance. The auctions include $FXB Curve pool and farms.

FRAX v3's FXB module has gone live, completing the FRAX v3 design and all new feature deployment. FXBs are decentralized utility tokens that convert into 1 FRAX stablecoin when they mature. The initial launch includes 3 FXBs with different maturity dates. FXBs can be bought onchain using a gradual Dutch auction mechanism. They are a way to buy future FRAX stablecoins at a discount today. FXBs have various use cases in the Frax ecosystem, including pools and leverage pairs.

sfrxETH is already being added to liquid restaking protocols/tokens (LRTs) ahead of Eigenlayer integration on Jan 29th. Kelp DAO is the first LRT integration and users can restake with them directly on Jan 29th in addition to directly with Eigenlayer.

Frax has announced a partnership with Axelar to support the issuance of Frax-assets on multiple chains, including Osmosis, 0xMantle, LineaBuild, TeamKujira, MantaNetwork, and Scroll_ZKP. This collaboration aims to bring the great yields and stability that Frax is known for to these chains. The partnership is powered by Axelar.

All sfrxETH holders can now vote to indicate if they want to restake with EigenLayer. If enough sfrxETH holders vote to restake, EigenLayer will integrate Frax into their protocol.

Frax has reached out and confirmed that their domains are now properly routed back to their nameservers and configuration. They will conduct a full investigation and provide an explanation of the incident in the near future.

Users are advised to refrain from using .com and .net domains until further notice. Those with connections at @namedotcom are urged to contact them immediately.

The debt cap for sfrxETH has been raised on Prisma.