FRAX FINANCE BIWEEKLY PROJECT UPDATE - #35
Week ending 04/10/2026
What We Did
Events / Media
[Base Build] Andy Cho from Frax.com was hosted by Base Build where he discussed why frxUSD is the ideal stablecoin to pair with. Link.
[Podcast] Sam Kazemian, co-founder of Frax, was hosted by The Rollup on their podcast where he shared more details on the two CLARITY stablecoin winners. Link.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
[FIP-443] sfrxUSD New Strategies: Aave v4 & Morpho Vault Integrations. Link: This proposal expands sfrxUSD's AMO strategies by integrating with Aave v4's new hub-and-spoke lending architecture and Morpho's curated vault ecosystem. Building on the framework established in FIP-434, the proposal aims to deploy frxUSD across major lending infrastructure while maintaining strict risk constraints and minimum yield requirements. The integration with Aave v4 ensures frxUSD remains a core borrowable stablecoin across next-generation lending systems, while Morpho vault participation allows diversification across multiple curated credit strategies from different risk managers like StakeDAO, Steakhouse, and AlphaPing. The proposal passed unanimously with 28,348,640 votes in favor and maintains adherence to the existing sfrxUSD risk framework.
Partnerships / External Integrations
[Aave] frxUSD went live as a day one stablecoin on Aave V4. Link
[Aerodrome Finance] frxUSD gained connector status on Aerodrome Finance, enabling additional frxUSD pools.
[Based Milk] Based Milk launched with frxUSD as the backing for its MILK token.
[Better Money Company] Frax is among the initial partners of Better Money Company, which is building clearinghouse infrastructure for stablecoins.
[Coinone] FRAX trading is now live on Coinone.
[Feather] New PYUSD markets launched on Feather, with sfrxUSD collateral having the largest borrow capacity. Link
[Fireblocks] Fraxtal L1 is now supported by Fireblocks, a leading digital asset infrastructure provider for institutions.
[ForteAUD] AUDF, Australia’s digital asset stablecoin, is now paired with frxUSD on Curve on Polygon.
[IDRX] IDRX, the Indonesian rupiah stablecoin, is now paired with frxUSD on Curve on Polygon.
[KRWQ Cash] KRWQ, the Korean won stablecoin, is now paired with frxUSD on Curve on Polygon.
[Metronome DAO] A new msUSD/frxUSD pool launched on Aerodrome Finance with incentives from both protocols.
[Polygon] Frax, Curve, Polygon, and DFB launched onchain FX markets with frxUSD as the default dollar pair across six global stablecoin pools. Link
[Stake DAO] Stake DAO is supporting frxUSD PegKeeper pools through OnlyBoost strategies and lending vaults on Morpho.
[Tangent] Tangent Protocol is building on frxUSD as its default stablecoin.
[Transfero Group] BRZ, the Brazilian real stablecoin, is now paired with frxUSD on Curve on Polygon.
[TokenGBP] tGBP, the British pound stablecoin, is now paired with frxUSD on Curve on Polygon.
Tech
[FraxNet]
Continued FraxNet web work, including Somnia integration, a broader web-app refactor, and a landing page revamp.
Advanced social wallet / gasless wallet abstraction.
[FXBs]
Continued RWA strategy research and FXB analysis.
[Multichain / LayerZero]
Progressed Somnia-related integration work, including transaction review, OFT launch, FUI support, and executor configuration for Somnia and Tempo.
Continued HopV2 recovery upgrade work.
[Other]
Continued EtherFi infrastructure work, including daily distribution migration, Dune dashboard sync scripts, and Scroll-to-OP infrastructure migration.
Miscellaneous housekeeping and bug fixes.
Other
About Frax
At Frax, we’re building the world’s most scalable stablecoin infrastructure for the next generation of finance.
You can see a more detailed overview here.
Legal Disclaimers
This announcement is not intended to provide financial, legal, or investment or other advice and we recommend that you do not rely on, and do not make any financial or other decision based on this announcement. It has been written and published by members of the Frax team and provides no guarantee, commitment, or undertaking to utilize any Frax-related funds, assets, properties, or personnel. Frax does not owe, and does not intend to assume, any duties or obligations to Frax users or participants. The Frax community (namely veFXS holders) may decide, through voting mechanisms, to direct the protocol in an entirely different direction than that of the team, and the latter would be obligated to follow said vote(s).
To the maximum extent permitted by applicable law, all software relating to Frax is being provided on an as-is, where-is basis, with no representations or warranties being made to Frax participants and with no liability to the Frax protocol or any other person involved in the development of Frax. The statements set forth in this announcement also are not intended to be warranties, representations, guarantees, or assumptions of duty or liability of any kind. The protocol will not be liable for any damages arising from its use or misuse.
The forward-looking statements in this announcement are subject to numerous assumptions, uncertainties, and risks which are subject to change over time. Such assumptions, risks and uncertainties could cause actual results or developments to differ materially from the results and developments anticipated by us. Even if anticipated results and developments are realized, such results and developments may nevertheless fail to achieve any or all of the expected benefits anticipated by this announcement.