Frax Finance Approves $250 Million Allocation to New Liquidity Pool

📆 4/8/2024 11:38 AM
📰 Cointelegraph

⏱ Reading Time:
10 sec. here
10 min. at publisher
📊 Quality Score:
News: 35%
Publisher: 51%

Finance News

Frax Finance has passed a community governance proposal to allocate $250 million of Ethena Labs' USDe to a new liquidity pool, enabling the creation of an automated market operation (AMO) for minting new FRAX tokens. The proposal aims to create one of the deepest liquidity pools in the DeFi space and diversify Frax's backing yield.

lending protocol Frax Finance has recently passed a community governance proposal that greenlights a $250 million allocation of Ethena Labs’ USDe to a new liquidity pool.enables the creation of an automated market operation that will allow the minting of new FRAX tokens backed by overcollateralized debt. The proposal was approved on April 5.

“As of yesterday, FRAX has begun adding USDe POL which will create one of the deepest pools of dollar liquidity on-chain, and enable FRAX to diversify their source of backing yield.”

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Decentralized stablecoin project Frax Finance moves forward in reinstating protocol fee switchThe proposal also details how a new tokenomics system will fully collateralize the decentralized stablecoin FRAX.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Frax Finance Targets $100B Value Locked in Singularity RoadmapOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Source: CoinDesk - 🏆 291. / 63 Read more »

Frax Finance Expands to Cosmos Ecosystem Via Asset Issuance Chain NobleOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Source: CoinDesk - 🏆 291. / 63 Read more »