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The official Telegram group for Frax. https://frax.finance/ codebase: https://github.com/fraxfinance twitter: https://twitter.com/fraxfinance news: @fraxfinancenews trading: @fraxtrading
https://x.com/samkazemian/status/1923486372809298159
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I am just sharing my thoughts on something I want related to Frax.
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That's what I wish for when my son gives me those dandelion seeds to make a wish
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https://x.com/watcherguru/status/1923471619885793724?s=46&t=0DwEZHXjuJYvM3vbA-1g1g
Lets frxing go!
Indeed. But curve teased a crvUSD card recently
If card payment is not, what is it
Sorry, I could not find an answer to that.
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frxUSD is a stablecoin from the Frax Finance Protocol, designed to be pegged to the US dollar. It is unique in that it is partially backed by collateral and partially stabilized fractionally. The Frax Finance community voted to fully collateralize frxUSD in February 2023. This stablecoin is part of Frax's broader strategy to attract new crypto users and secure access to a US Federal Reserve Master Account.
On the other hand, crvUSD is a stablecoin associated with Curve Finance, a decentralized finance (DeFi) platform. It derives its value from assets like USDC, Ethereum, and liquidity provision tokens from stablecoin pools. This positions crvUSD more within the DeFi space, as opposed to being a "payment stablecoin" like frxUSD under regulatory initiatives.
For more detailed information about frxUSD, you can read more here.
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🚧 Frax Update in Progress 🚧
Hey everyone — just a heads-up that the Frax pages are currently being updated by the team. Some info might be temporarily missing or under revision. Thanks for your patience while we get everything up to date! 🙏
/ai compare 2 stablecoins crvUSD and frxUSD
Tell me in what they are different and complementary
Synergies
/ai you probably mistaken with Frax USD stablecoin
The now legacy Frax algorithmic USD still co-exist along with new frxUSD which is full collateralized
Two different products
My mortgage rate is sub 3%, but I would take 2% in a heartbeat if someone offered it
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All I want is a debit card backed by (s)frxUSD that settles on fraxtal/crypto rails and integrates with tradfi for easy on/off ramping. 🙏🏼
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FRAX and FXS are distinct tokens within the Frax ecosystem. FRAX is a stablecoin, while FXS is the governance token of the Frax protocol. Each blockchain has a canonical version of both FRAX and FXS, which are simply referred to as "FRAX" and "FXS" without any prefixes. When these tokens are moved across different blockchains using bridge protocols, they may be referred to with specific identifiers based on the bridge used, such as "anyFRAX" for AnySwap or "wormFRAX" for the Wormhole bridge.
Read more about Frax Finance here.
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A few in llama lend... And some in the scrvUSD/sfrxUSD pool
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/ai Hello, a question here. Back when FXS was used to mint the FRAX stablecoin, a big chunk of it was either burned or locked, so the actual circulating supply was much lower.
Now that it's renamed as FRAX and the stablecoin part is gone, aren’t those previously locked FXS basically back in circulation?
Hello, this is the official tg channel for Frax Protocol, You can read more about Frax here
Docs: https://docs.frax.com/protocol
Website: https://frax.com/
READ THE OFFICIAL DOCS 🐋
CRVUSD IS ABSOLUTELY NOT QUALIFIED AS A PAYMENT STABLECOIN
https://x.com/FRAXBELUGA/status/1923295161590874568
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crvUSD and frxUSD are both stablecoins, but they have distinct characteristics and functionalities:
1. crvUSD:
- crvUSD is a stablecoin associated with Curve Finance, a decentralized exchange optimized for stablecoin trading.
- It derives its value from assets such as USDC, Ethereum, liquid staking derivatives like Frax's sfrxETH, and liquidity provision tokens from stablecoin pools.
- crvUSD is used within the Curve ecosystem, providing liquidity and facilitating stablecoin swaps.
2. frxUSD:
- frxUSD is the stablecoin of the Frax Finance Protocol, designed to be pegged to the US dollar.
- It is fully collateralized, with its value calculated using a time-weighted average of the Uniswap pair price and the ETH:USD Chainlink oracle.
- frxUSD was initially fractionally stabilized but has transitioned to full collateralization as of February 2023.
- The protocol accepts various cryptocurrencies as collateral, mainly on-chain stablecoins, to reduce volatility.
Differences:
- crvUSD is more integrated into the Curve Finance ecosystem, focusing on stablecoin swaps and liquidity provision.
- frxUSD is part of the Frax Finance ecosystem, with a focus on maintaining a stable peg to the US dollar through full collateralization.
Complementary Aspects and Synergies:
- Both stablecoins can be used in DeFi applications, providing liquidity and stability.
- crvUSD and frxUSD can complement each other in liquidity pools, enhancing the stability and efficiency of stablecoin trading.
- The integration of Frax's sfrxETH as a collateral option for crvUSD indicates a synergy between the two ecosystems, potentially increasing the utility and adoption of both stablecoins.
For more detailed information, you can read about frxUSD here and Curve Finance here.
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Thank you for the clarification. Frax Finance indeed has two different products: the legacy Frax algorithmic USD and the new frxUSD, which is fully collateralized. The legacy Frax USD was partially algorithmic, relying on a combination of collateral and algorithmic mechanisms to maintain its peg. In contrast, frxUSD is designed to be fully backed by collateral, providing a more stable and secure option for users. If you have any more questions or need further assistance, feel free to ask!
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THIS IS LEGACY FRAX DOLLAR NOT FRXUSD.
FRXUSD IS FULLY RWA BACKED, FIAT REDEEMABLE