Frax Finance Launches New Stablecoins frxUSD and sfrxUSD
Summary
- Frax Finance announced the launch of frxUSD and sfrxUSD.
- frxUSD is characterized by the separation of issuance and custody and can be swapped 1:1 with existing Frax.
- sfrxUSD is attracting attention from investors for its high on-chain interest rates and cash redemption capability.
Algorithm-based stablecoin project Frax Finance announced on the 10th that it has launched new stablecoins frxUSD and sfrxUSD.
Frax Finance stated on X (Twitter), "Through partnerships with BlackRock and Superstate, we have launched the new flagship stablecoin frxUSD and the savings yield stablecoin sfrxUSD."
Firstly, frxUSD is a stablecoin characterized by the separation of issuance and custody. Existing Frax holders can swap for frxUSD at a 1:1 ratio through the official website.
The savings yield stablecoin sfrxUSD is notable for its high on-chain interest rates and cash redemption capability.
Frax Finance explained, "frxUSD will be utilized across various blockchain ecosystems through 'multi-chain money.' Most chains are expected to automatically upgrade like Fraxital," and "frxUSD will also be available on new chains."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
