Frax has launched sFRAX, a staking vault aimed at capitalizing on the surge in U.S. Treasury yields. sFRAX currently allows users to deposit their FRAX and initially receive a 10% yield. However, this rate will adapt over time to reflect the Fed's interest rate on reserve balances (IORB), which currently stands around 5.4%.
sFRAX is part of the ongoing deployment of Frax's v3 product suite, which will transform FRAX stablecoin to a minimum of 100% collateralization ratio through AMO smart contracts and certain real world assets.
Related: Frax Releases FRAX v3 Documentation, $FRAX Stablecoin Fully Backed by AMO and Real World Assets
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
DeFi
Stablecoins
