FRAX FINANCE BIWEEKLY PROJECT UPDATE - #37
Week ending 05/16/2026
What We Did
Events / Media
[Stable Summit] Frax Founder and CEO Sam Kazemian will speak at Stable Summit in NYC on June 4th, discussing frxUSD’s role in modernizing the global financial system.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
Partnerships / External Integrations
[Aave] frxUSD supply and borrow caps were raised on Aave V4 as part of Aave’s security-first growth strategy. Link
[Coinshift] The frxUSD PegKeeper pool with Coinshift USPC approached $500k TVL with 28%+ APR, offering exposure to institutional credit strategies from BlackRock, Fidelity, Apollo, and more. Link
[EtherFi] Week 7 frxUSD rewards on EtherFi were distributed, with over $100k in frxUSD now spent by users choosing it as their default stablecoin. The rewards campaign was also extended as frxUSD spending through EtherFi Cash continued to grow. Link
[Morpho / AlphaPing / Inverse Finance] The frxUSD AlphaPing Enhanced Vault on Morpho surpassed $1M in deposits, offering around 12% APY with exposure to sDOLA from Inverse Finance and refreshed incentives. Link
[PikuDAO] The frxUSD PegKeeper pool with PikuDAO USP launched on Curve Finance with over 150% APR in FRAX and PIKU incentives, expanding PikuDAO’s frxUSD partnership as another protocol choosing frxUSD as a default stablecoin pair. Link
[Royco] Frax brought liquidity to srRoyUSDC on Royco, combining Royco’s risk tranching with Frax’s yield-forwarding model and frxUSD’s backing from tokenized U.S. Treasuries from BlackRock and others.
[Tangent] Tangent announced pre-deposits with frxUSD as the default stablecoin alongside USDC, building on Tangent’s frxUSD PegKeeper pools on Curve Finance.
[Tempo] frxUSD launched day one on Tempo, built for real-world settlement flows as DoorDash announced stablecoin payouts on the platform.
Tech
[FraxNet]
Advanced Social Wallet last-mile features, polish, and contract deployments.
Fixed KYB template issues and continued related operational cleanup.
[frxUSD]
Continued frxUSD security work.
[Multichain / LayerZero]
Advanced DVN security work, including a DVN Hook block hash service, DVN 5/5 + confirmations upgrade, and added Canary and Nethermind DVNs to the frax-lz-mesh with explicit block confirmations.
Continued Frax DVN circuit breaker work and OFT rate limiter improvements.
Improved legacy OFT support by explicitly setting receive libraries and enhancing OFT bridge burst testing across legacy Hop and legacy HopV2.
Continued RemoteHopV2 Tempo work, including provider and quorum tightening for the Frax DVN.
Fixed an FUI bridging bug affecting Solana-to-Fraxtal / Ethereum flows related to compute units.
[Other]
Continued UniswapX integration work.
Continued Fraxlend oracle security review.
Worked on oracle price sourcing for srRoyUSDC.
Continued miscellaneous multisig operations.
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.