Latest Frax Share updates on March 28th

Frax, a cryptocurrency project, recently announced a variety of new updates regarding their project. On March 30, 2023, at 3PM UTC, they are hosting an AMA Discord with the FRAX team. On March 27, 2023, they announced that their mature product, FPI, is available on Ethereum. On March 25, they announced a new partnership with Arbidex and on March 24, they received 515,081 $ARB airdrop tokens. On March 21, they announced 11%+ APY for staking $ETH and on March 20, Convex expanded their collaboration with Frax and added support for $FRAX. On March 17, they announced 53% APY for $BNBx – $FRAX and on March 14, they announced that FRAX3CRV, FRAXBP, & FRAXBPTUSD LPs qualify for the Sturdy airdrop. On March 13, they announced 16% APR for staking $ETH at Frax and on March 10, they announced the world’s first fractional stablecoin meets DeFi lending with real world assets.

What is Frax Share ?

Frax Share is a revolutionary new cryptocurrency project that has the potential to revolutionize the way we use digital money. It is the world’s first fractional-reserve stablecoin, making it a reliable store of value for users of digital currencies.

The protocol behind Frax Share was created to tackle the issue of volatility that is inherent in many traditional cryptocurrencies. By utilizing a fractional-reserve system, Frax Share is able to create a stablecoin backed by a basket of assets, allowing it to remain fairly stable over time. This is done through a combination of algorithmic stabilization and collateralized assets.

The collateralized assets used in the Frax Share Protocol include a variety of major national currencies, including the US Dollar, Euro, Japanese Yen, and British Pound. In addition, the protocol also utilizes a crypto native consumer price index, meaning it is able to take into account the price movements of a variety of major digital currencies when determining the value of the Frax Share token.

The Frax Share Protocol also makes use of a number of different technologies, such as decentralized oracles, smart contracts, and decentralized governance, to ensure that it is secure, transparent, and reliable. This makes it an ideal solution for those looking to use a stable digital currency to store their wealth or make payments.

Overall, Frax Share is an exciting new project that could revolutionize the way we use digital money. With its fractional-reserve system, it is able to create a stablecoin backed by a basket of assets, allowing users to store their wealth and make payments with a reliable store of value. The protocol also makes use of a variety of technologies to ensure that it is secure, transparent, and reliable. As such, it is a great choice for those looking for a stable digital currency to use for their financial needs.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.