Frax Finance Launches FRAX Stablecoin

Frax Finance Launches FRAX Stablecoin



The Frax Finance community, a finance (DeFi) protocol has recently introduced FRAX v3, a stablecoin that is tied to the value of the U.S. Dollar. This stablecoin utilizes AMO contracts and open subprotocols that do not require custody of funds to maintain stability.



Three days ago Frax Finance publicly released an official guide for FRAX v3. The primary objective of this stablecoin is to preserve its value through the use of AMO contracts and open subprotocols without requiring custodial control.



Within these subprotocols two internal stabilizers called Fraxlend and Fraxswap play roles. Fraxlend functions as a loan platform while Fraxswap operates as a unique automated market maker. Additionally an external subprotocol known as Curve further strengthens the stability of the coin by pegging it to the U.S. Dollar. The guide


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#Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Frax, #FraxFinance, #FRAXStablecoin, #Stablecoin

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