frxUSD backs Gearbox RWA leverage, mint asset for Midas mF-ONE
Frax Finance's frxUSD is now the underlying stablecoin asset for Gearbox Protocol's new RWA market, enabling one-click RWA leverage with institutional-grade liquidity. The first supported asset is Midas RWA's mF-ONE, and coverage from The Rollup framed the launch as a first step toward one-click borrowing against tokenized real-world assets.
frxUSD also becomes a mint asset for mF-ONE — besides USDC, it is the only stablecoin with that status, putting frxUSD into the primary flow for institutional onchain assets. KPK, the DeFi curator and treasury manager with $200M+ AUM, is curating a frxUSD vault for Gearbox's RWA leverage market. Frax called the launch another institutional milestone for frxUSD.
- frxUSD powers Gearbox's automated RWA leverage market, starting with mF-ONE
- frxUSD is now a mint asset for mF-ONE alongside USDC
- KPK curates a frxUSD vault for the market
Sources
- RT @therollupco: Frax and Gearbox now let you borrow against tokenized real-world assets in one click, the first step toward doing the same…x.com ↗
- You may have heard of @kpk_io for building one of DeFi’s fastest proprietary risk mitigation systems, saving users millions. They're a top DeFi curator and treasury manager, with $200M+ AUM growing fast. Now they’re curating a frxUSD vault for @GearboxProtocol RWA leverage 💪 https://t.co/hp1fDi2Rl3x.com ↗
- 2/ Another institutional milestone for frxUSD: As part of this launch, frxUSD is now a mint asset for @MidasRWA mF-ONE. Besides USDC, frxUSD is the only stablecoin with this status. That means frxUSD is becoming part of the primary flow for institutional onchain assets. https://t.co/QknYdls6KI Replying to their earlier post: 1/ Frax and Gearbox are unlocking automated RWA leverage. frxUSD is now the underlying stablecoin asset for @GearboxProtocol's new RWA market, bringing institutional-grade liquidity to one-click RWA…x.com ↗
- 1/ Frax and Gearbox are unlocking automated RWA leverage. frxUSD is now the underlying stablecoin asset for @GearboxProtocol's new RWA market, bringing institutional-grade liquidity to one-click RWA leverage, starting with @MidasRWA mF-ONE. Leave it to two DeFi OGs to unlock https://t.co/3GOnY9K4r8 https://t.co/Rvtz0e6hJvx.com ↗
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.
