Latest Frax updates on March 28th

Frax Finance is a cryptocurrency project that focuses on providing users with a secure and stable environment for financial transactions. Recently, the project has announced a Discord AMA with their team on March 30th, 2023 at 3PM UTC. On March 27th, they announced a partnership with Arbidex and on March 24th they received an airdrop of 515,081 $ARB tokens. On March 21st, they announced that sfrxETH APY was in double digits and that users can increase this to 50%+ APR by locking FRAX on Fraxlend. On March 20th, they announced an expansion of collaboration with Convex Finance and on March 18th they announced 11%+ APY for staking $ETH. Finally, on March 13th, they announced a FUD-to-cash converter for staking $frxETH and a timely new episode of The Edge Podcast on stablecoin heavyweight @fraxfinance.

What is Frax ?

Introducing Frax: The World’s First Fractional-Reserve Stablecoin

The world of cryptocurrency has been revolutionized with the introduction of Frax, the world’s first fractional reserve stablecoin. With its vision to create highly scalable, decentralized money in place of fixed-supply digital assets like Bitcoin, Frax brings an entirely new level of stability and scalability to the cryptocurrency world.

What is Frax?
Frax is a stablecoin, meaning that its value is linked to a real-world asset, such as the US dollar, and it is designed to maintain a stable price. It is also a fractional-reserve stablecoin, meaning that it is only partially backed by collateral, with the remainder of its value being stabilized algorithmically. This unique approach to stablecoins allows Frax to offer greater scalability and stability than other stablecoins.

How Does Frax Work?
The Frax Protocol is based on two components: the Collateral Reserve and the Algorithmic Stabilizer. The Collateral Reserve is a pool of cryptocurrencies that is used to maintain the value of Frax. This is done by creating a “basket” of cryptocurrencies that are used to back the value of Frax. The Algorithmic Stabilizer is an algorithm that is used to adjust the supply of Frax to keep its price stable. This algorithm is designed to be adaptive and able to adjust to changing market conditions.

Frax also provides a Crypto Native Consumer Price Index (CN-CPI). This index is designed to provide real-time pricing information for a variety of cryptocurrency assets, allowing users to make informed decisions about their investments.

What Are the Benefits of Frax?
The primary benefit of Frax is its scalability. By only requiring a fraction of its value to be backed by collateral, Frax is able to offer a much higher degree of scalability than other stablecoins. Additionally, its algorithmic stabilizer allows it to adjust to changing market conditions, providing an additional level of stability. Finally, its CN-CPI allows users to make informed decisions about their investments, providing them with the information they need to make the best decisions.

Conclusion
Frax has revolutionized the world of cryptocurrency with its fractional-reserve stablecoin. By providing scalability and stability, as well as real-time pricing information, Frax is an ideal choice for those looking to invest in cryptocurrency. If you’re looking for a stablecoin that can provide you with the scalability and stability you need, then Frax is the perfect choice for you.

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.