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 frxUSD also becomes a mint asset for mF-ONE — besides USDC, the only stablecoin with that status, putting frxUSD in the primary flow for institutional onchain assets.
Frax followed up by framing the partnership as what frxUSD was built toward: "the liquidity layer for institutional tokenization." KPK, the DeFi curator and treasury manager with $200M+ AUM, is curating a frxUSD vault for Gearbox's RWA leverage market, which Frax called another institutional milestone for frxUSD.
- frxUSD powers Gearbox's automated RWA leverage market, starting with mF-ONE
- frxUSD is a mint asset for mF-ONE alongside USDC
- KPK curates a frxUSD vault for the market
Sources
- Our partnership with @GearboxProtocol is more than another integration. It’s what Frax has been building frxUSD toward: the liquidity layer for institutional tokenization. @mugglesect worked tirelessly to make it happen. Time to retokenize the world with frxUSD on Gearbox. https://t.co/G6vJ4DnOYAx.com ↗
- 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.
