Our FRAX pool is live, marking the start of a bountiful adventure with our new strategic partner, Frax Finance!
Stake DAO intends to offer the most advanced and innovative products in DeFi, and a key part of that is working with the top teams. Frax has built a first-of-its-kind stablecoin that aims to achieve a tight peg against the US dollar using an entirely new, hybrid approach — Frax’s “fractional algorithmic” mechanism is unique in that it combines collateralization with algorithmic stabilization.
We see this as a fundamentally more decentralized offering in the landscape of fiat-pegged stablecoins, and anticipate that Frax will continue to push the boundaries of possibility in this area.
As open-source communities with a shared commitment to decentralizing finance, Stake DAO and Frax are excited to team up on a number of initiatives that accelerate progress toward this mutual goal, and amplify each other’s success. Here’s what Frax Finance founder Sam Kazemian had to say on our new venture:
“Stake DAO is the best place to get passive yield on stablecoin strategies so we’re very excited to expand our AMO strategy with them to grow the FRAX market cap together.’’
Frax Finance is without a doubt one of the most innovative teams in the stablecoin space, and we look forward to future collaborations beyond this debut strategy. You can now start earning 32% on FRAX by heading to Stake DAO > Strategies > FRAX!