What We Did
Events / Media
[Bitcoin 2025 (Las Vegas, NV, USA - 5/27-5/29)] Frax is a Moon-level sponsor of this upcoming event and plans to showcase its current projects as well as its expansion into the Bitcoin DeFi (BTCFi) space.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
[FIP - 428] Frax North Star Proposal - V2.0 VOTING LIVE: This proposal seeks to implement the upgrading of FXS, the Frax North Star Hardfork, the Tail Emission Plan, and the Flox Capacitor Boost.
[FIP - 427] PASSED: Introduces the WisdomTree Government Money Market Digital Fund (“WTGXX” or “Fund”) as an on-chain, reserve (backing) asset for Frax USD with exposure to U.S. dollar yield.
Partnerships / External Integrations
[Analog] Frax Finance and Analog collaborated to create seamless cross-chain interoperability. Frax can now synchronize governance, data, and liquidity across chains.
[Bunni] The frxUSD-USDC rush pool on Bunni was launched. Users earn swap fees, lending fees, and BUNNI rewards, as well as growth for Frax’s new lending market vault.
[dTRINITY] dTRINITY added FXS, FXB2025 and FXB2055 as collateral on their dLEND platform. Users can supply the following assets to borrow dUSD & earn interest rebates.
[Napier] Napier was launched on Fraxtal. Also Frax can freely issue and manage Napier's PT/Y assets.
[PumpSwap (pump.fun)] Frax has launched frxUSD/FXS on pump.fun’s Pumpswap on Solana. Link to pair.
[Request Finance] Frax USD ($FRXUSD) was added by Request Finance for payments and invoicing. Users will be able to make crypto payments with frxUSD.
[Superstate Industry Council (SIC)] FRAX Finance joined the Superstate Industry Council (SIC).
[Synnax] sfrxUSD on SEI network looping went live on Synnax. Users can leverage up to 8.4x and maximize their yield.
Tech
[Fraxlend]: Misc oracle work. Also working on leverage feature.
[FXTL / Flox]: Routine farm work. Outline / planning for FloxCAP contract in the event the North Star FIP passes.
[Multichain / LayerZero]: Abstract, Base, Berachain, and Linea have been connected and are now bridgeable to. Aptos, Initia, and Movement in the works. Also legacy liquidity migration prep.
About Frax
Frax currently issues 3 stablecoins: frxUSD, FPI, and frxETH, along with numerous other non-stablecoin tokens. There are also multiple contract groups or "subprotocols" within it that integrate these tokens to provide utility and stability.
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.