Frax's governance token FXS is in stasis as the decentralized finance protocol's nascent high-yielding staking product draws millions in investor money.sFRAX, an ERC4626 staking vault allowing holders of the protocol's partially collateralized fractional-algorithmic stablecoin FRAX to earn yields matching the U.S. Federal Reserve's
FXS' price rose 7% to $5.66 on Thursday, but has since pulled back to $5.49 to indicate a 0.5% gain on a 24-hour basis, CoinDesk data show. The steady price action is consistent with the continued low-volume range play among market leaders bitcoin and ether.The new offering comes as lending protocol MakerDAO enjoys a first-mover advantage in capitalizing on high interest in the U.S.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »