Frax
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Frax is the world’s first fractional-algorithmic stablecoin. The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.
Frax opens FIP-451 vote for Royco sfrxUSD strategy
Frax Finance opened the FIP-451 governance vote to add Royco Protocol's SLP as an sfrxUSD strategy with up to $1M in frxUSD. If passed, frxUSD would become the default productive redemption liquidity for Royco's senior tranche.
- Royco focuses on transforming liquidity through tranching.
- The vote is open for frxUSD holders to participate.
frxUSD integrated with Term Labs V2 fixed-rate lending
Frax Finance announced that frxUSD is now paired with tmvUSDC via Term Labs V2, the next layer of fixed-rate DeFi. Term V2 introduces a peer-to-peer order book and atomic execution layer.
Key details:
- Term V2 unlocks Terminal 1, an interface and routing system for fixed-rate markets.
- More frxUSD pairings are planned as Frax brings its stablecoin's capital efficiency to new fixed-rate markets.
Frax launches frxUSD/trUSD PegKeeper pool with Tori Finance
Frax Finance launched a new frxUSD PegKeeper pool pairing frxUSD with Tori Finance's trUSD, a stablecoin backed by delta-neutral trading positions. The frxUSD/trUSD pool is live on Curve Finance.
Key details:
- Frax backs frxUSD with tokenized treasuries and money market funds.
- Instead of keeping that reserve income, Frax forwards it into the pool's incentives.
- LPs earn a share of the fees on every trade in the pool.
North Star upgrade: FXS renamed to FRAX and made Fraxtal's gas token
As part of the North Star update, the Frax Share (FXS) token was renamed to FRAX and designated the native gas token for the Fraxtal blockchain, replacing frxETH.
frxUSD stablecoin launches, backed by BlackRock's BUIDL
Frax launched frxUSD, a new USD-pegged stablecoin backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and tokenized by Securitize.
Fraxtal Layer 2 mainnet launches
Frax's EVM-compatible Layer 2 rollup, built on the OP Stack, launched with select launch partners, later opening to the public.
Frax community votes to fully collateralize FRAX
The Frax DAO voted to move FRAX away from its algorithmic/fractional backing model toward full collateralization, a landmark governance decision following the 2022 Terra collapse.
Frax Ether (frxETH) liquid staking token goes live
Frax Ether, a dual-token ETH liquid staking system (frxETH, sfrxETH, and the Frax ETH Minter), went live in a soft community launch.
Frax Price Index (FPI) stablecoin launches
Launched the FPI stablecoin, the first stablecoin pegged to a basket of real-world consumer goods (US CPI-U) rather than the US dollar.
Frax V2 launches with Algorithmic Market Operations (AMOs)
Frax launched V2, introducing AMO Controllers — autonomous monetary-policy tools that perform market operations while maintaining the stablecoin peg.
FRAX stablecoin launches on Ethereum mainnet
Frax Finance deployed the world's first fractional-algorithmic stablecoin, FRAX, on Ethereum mainnet on December 20, 2020 at 4 pm PST (December 21, 2020 at 0:00 UTC), introducing the FXS governance token.