Frax Finance launches an algo-stablecoin
Hassan Maishera - Cryptowisser
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Frax Finance is set to launch FPI, an algo-stablecoin designed to be inflation resistant and a new unit of account. The algo-stablecoin will be pegged to a decentralized consumer price index powered by Chainlink.
Frax (FRAX) is a fractional algorithmic stablecoin partially backed by collateral and partially stabilized algorithmically. The ratio of collateralization and algorithmic depends on the market price of the FRAX stablecoin.
FXS, Frax’s native token, is trading above $37.8, up by 14% in the last 24 hours.
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