Alandale launches frxUSD/USDG and frxUSD/SPY pairs on Robinhood
Alandale (@alandalexyz) — a liquidity protocol on Robinhood Chain — has launched frxUSD/USDG and frxUSD/SPY trading pairs, announced by Frax Finance as "the frxUSD model in action." Alandale is using Frax's positive-sum rewards-sharing model to build deeper, protocol-owned liquidity while generating revenue for its ecosystem.
- frxUSD/USDG pairs frxUSD with the Global Dollar stablecoin (USDG)
- frxUSD/SPY pairs frxUSD with the tokenized SPDR S&P 500 ETF on Robinhood Chain
- Frax framed the listing as more productive DeFi on Robinhood Crypto
Frax
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.
