News Formal

Frax Finance Approves $250 Million Allocation to New Liquidity Pool

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

Finance Nyheter

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.”

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 562. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: TheBlock__ - 🏆 464. / 53 Läs mer »

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

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