Frax Finance to retire algorithmic backing amid stablecoin crackdown
The vote was passed to fully collateralize Frax Finance’s native stablecoin, thus phasing out its algorithmic backing. The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol. The FIP-188 governance proposal initially posted on Feb. 15…
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