Frax to power Somnia's USDso stablecoin
Frax Finance announced that Somnia Network's USDso is powered by Frax, part of a positive-sum economics approach where value flows to those creating distribution. The design routes value from frxUSD's institutional reserves through USDso to Somnia apps and users, as the two teams build DeFi together.
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.
