Stablecoin projects need collaboration, not competition: Frax founder

07/25 03:34

Stablecoin projects need to take a more collaborative approach to grow each other’s liquidity and the ecosystem as a whole, says Sam Kazemian, the founder of Frax Finance. Speaking to Cointelegraph, Kazemian explained that as long as stablecoin “liquidity is growing proportionally with each other” through shared liquidity pools and collateral schemes, there won’t ever be true competition between stablecoins. Kazemian explained that growth in the stablecoin ecosystem is not a "zero-sum game" as each token is increasingly intertwined and reliant on each other's performance. Though the FRAX stablecoin is partially stabilized algorithmically, Kazemian says that pure algorithmic stablecoins ”just don’t work.”

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