Frax Finance posted that it is "launching & shipping" on Robinhood, thanking Arrow Finance, FablesFi, and UFG DeFi for the collaboration, with "more to come."
The post is the launch announcement for the chain's ongoing rollout: Arrow's frxUSD PSM for 1:1 zero-fee conversions against aUSD, the first stable pool integrations (Arrow's frxUSD/aUSD pool and FablesFi's stable pool), and sfrxETH backing United Founders Group's Immutable Treasury v2. Frax signaled additional Robinhood partners are in the pipeline.
Frax
Frax is the worldβs 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.