What is Frax Finance?

Mainnet

Frax Finance is the second-largest issuer of decentralized dollar-pegged stablecoins and an industry leader for DeFi infrastructure.

The NEAR ecosystem and Frax contributors will now collaborate through ongoing in-depth research and protocol integrations. One of the biggest opportunities between the two teams will be the introduction of short-term treasury yields on NEAR using sFRAX, a yield-bearing asset that tracks the Federal Reserve’s Interest on Reserve Balance (IORB).

In the coming months, Frax will natively issue their suite of assets, FRAX, sFRAX, frxETH, and sfrxETH on NEAR and Fraxtal, along with exploring opportunities around NEAR LSTs. Other protocols on NEAR will also be able to explore these exciting frontiers with Frax. While NEAR supports various stablecoins, the decentralized Frax platform sets itself apart by offering additional features like yield and LSTs. These offerings can be utilized by NEAR’s DeFi protocols for novel ventures.