Summary
Frax, a decentralized finance protocol, is expanding its product suite by adding a new offering called FRAX Shares. The protocol currently offers a stablecoin, lending platform, automated market maker, inflation-linked stablecoin, FPI, and a liquid staking token. FRAX has a market cap of $647 million, making it the seventh-largest stablecoin globally.
Key Points
1. Frax’s product suite includes FRAX, a fully collateralized algorithmic stablecoin, a lending platform, an automated market maker, an inflation-linked stablecoin (FPI), and the liquid staking token frxETH.
2. FRAX currently has a market cap of $647 million, making it the seventh-largest stablecoin in the world according to CoinGecko.
3. The new offering will expand Frax’s existing product suite, adding to their range of stablecoins and financial services.