FRAX FINANCE BIWEEKLY PROJECT UPDATE - #31
Week ending 01/22/2025
What We Did
Events / Media
None for past 2 weeks.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
None for past 2 weeks.
Partnerships / External Integrations
[ATW Partners] ATW Partners launched a program to invest $50M in frxUSD, signalling the growing bridges between DeFi and TradFi.
[Binance] Binance integrates Fraxtal as well as its corresponding FRAX Ecosystem/Gas Token. This recognizes Fraxtal’s role as a chain purpose-built around stablecoins and long-term economic activity, rather than short-term speculation. Fraxtal is designed as the execution and settlement layer for frxUSD and future GENIUS-aligned stablecoin infrastructure, enabling payment, treasury, and savings use cases that resemble traditional finance, but with on-chain transparency and composability.
[RAAC] $frxUSD / $pmUSD PegKeeper Pool was launched on Curve Finance by Raac protocol, a borrowing ecosystem powered by Real-World Assets.
[WBTC] WBTC was added as collateral on Fraxlend to borrow against sfrxUSD.
[Zodia] frxUSD stablecoin is now supported by Zodia Custody. Link.
Tech
[Flox / FXTL] FNS metadata and image generation service. SiloedCustodian coding. Farm multiplier work. Rarible NFT competition, sunsetting Yapperboard points.
[FraxLend] Small subgraph fixes.
[FraxNet] FUI work. Branded stablecoin backend, app integration, landing page, and wire deployment work. Bridge related work. Misc KYC/KYB. TODO: FUI Merkle integration. FraxNet V2 work.
[frxUSD] frxUSD and sfrxUSD EIP‑3009 upgrade to be done Jan 23.
[Multichain / LayerZero] Tempo integration work (RemoteHopV2, frxUSDMintable with Tempo’s StablecoinDEX, Andantino testnet exploration, frxUSD as gas token on Tempo)
Other
[Frax Force] Stories at the Frontline part 8. Link.
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.