According to Foresight News, Frax Finance is set to launch a treasury-backed vault called sFRAX today. The vault utilizes the yields of US Treasury bonds by partnering with Kansas City's Lead Bank to open brokerage accounts for purchasing US Treasury bonds. This allows the vault to track the Federal Reserve's interest rates and maintain relevance. Users will be able to deposit funds into sFRAX and receive a 10% yield, which will then shrink to the current Interest on Reserve Balances (IORB) rate of the Federal Reserve, approximately 5.4%.