Frax Finance has gone live with frxETH, an ethereum liquidity pledge token
10/21 12:10
The algorithmic stablecoin protocol Frax Finance has gone live with frxETH, supporting both minting and pledge/unpledge functionality. More than 1,655 frxETH have been minted so far. As previously reported, Frax Finance will make its liquidity pledge protocol on Ether publicly available in two weeks. The release will allow users to pledge ETH and receive a liquidity derivative token, Frax Ether (frxETH), designed to unlock the value of the pledged tokens. The derivative will reflect the price of ETH and can be freely traded on other DeFi protocols
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