Frax Description
Frax operates as an open-source, permissionless protocol that is fully integrated on-chain, currently functioning on Ethereum and several other blockchain networks. The primary objective of the Frax protocol is to develop a highly scalable and decentralized form of algorithmic currency to replace fixed-supply digital assets such as Bitcoin. This innovative approach represents a significant shift in the design of stablecoins. While many existing stablecoin protocols have rigidly adhered to either being fully collateralized or entirely algorithmic without any backing, Frax introduces a hybrid model. Traditional collateralized stablecoins often face custodial risks or necessitate overcollateralization on-chain. In contrast, Frax uniquely combines both backed and algorithmic components in its supply, establishing itself as the first stablecoin to feature a portion of its supply as floating or unbacked. This duality not only enhances the stability of the currency but also paves the way for a more dynamic and adaptable financial ecosystem.
Frax Alternatives
Zengo Wallet
Zengo is the only self-custodial wallet with no seed phrase vulnerability.
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Nexo
Nexo is a premier digital assets wealth platform designed to empower clients to grow, manage, and preserve their crypto holdings. Our mission is to lead the next generation of wealth creation by focusing on customer success and delivering tailored solutions that build enduring value, supported by 24/7 client care.
At Nexo, we understand that building wealth isn’t one-size-fits-all. That’s why we give you the power to choose how your assets grow. Whether you value flexibility or want to lock in higher returns, Nexo puts your goals in your hands.
Earn daily compounding interest on your crypto and stablecoins with Flexible Savings. Spend, trade or withdraw them anytime, while you enjoy up to 14% annual interest.
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mStable
mStable is a decentralized and open protocol that integrates stablecoins, lending, and swapping into a unified standard. It is characterized by an autonomous framework that does not require custodianship for stablecoin management. By merging lending returns with trading fees, mStable generates assets that offer superior yields. Prioritizing smart contract security, mStable has undergone a comprehensive audit by Consensys Diligence, which revealed no significant vulnerabilities. The governance of mStable is managed by MTA token holders who stake their tokens to participate in decision-making processes. This governance operates through a structured consensus-building method, where proposals are discussed in community spaces such as Discord or public forums before being confirmed through on-chain voting by MTA holders. The protocol consists of self-governing, decentralized, and non-custodial smart contracts, all built on the Ethereum blockchain. The assets created by mStable, referred to as mAssets, are designed to maintain a specific value peg and can be minted or redeemed on-chain through the use of smart contracts. mStable’s innovative approach to asset management aims to provide users with both stability and higher returns in a seamless manner.
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Aave
Aave operates as an open-source and non-custodial liquidity protocol that facilitates earning interest on deposits while also allowing users to borrow assets. This decentralized money market enables participants to engage as either depositors or borrowers, where depositors supply liquidity to gain passive income and borrowers can access loans through overcollateralized or undercollateralized means. At the core of Aave’s operations lies a commitment to security, with ongoing audits and enhancements to ensure robust protection for users. The protocol safeguards funds within a non-custodial smart contract deployed on the Ethereum blockchain, giving users complete control over their wallets. Moreover, the system is designed to be regulated and auditable by its underlying code, adding an additional layer of transparency. Aave Protocol has undergone thorough audits by reputable firms such as Trail of Bits, OpenZeppelin, ConsenSys Diligence, Certik, PeckShield, and Certora, all of which are accessible to the public. This dedication to security not only builds user trust but also positions Aave as a leading option in the decentralized finance space.
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Integrations
Company Details
Company:
Frax
Year Founded:
2019
Headquarters:
Cayman Islands
Website:
frax.finance/
Media
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Product Details
Platforms
Web-Based
Types of Training
Training Docs
Customer Support
Online Support
Frax Features and Options
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