Frax Finance (https://frax.finance/) has innovated an algo stablecoin that has proven resilient and able to hold a tight peg to the USD. All with higher capital efficiency.
The FRAX stablecoin market cap has been growing steadily and is currently at ~$280M.
Adding FRAX (the Stablecoin) and FXS (Frax Share utility token) on Polygon dHEDGE v2 will allow managers to:
- Trade FRAX and FXS on Sushi
- Yield farm FRAX-FXS and FRAX-USDC pools on Sushi
FRAX and FXS can be added as assets on dHEDGE V2 contracts through governance.
Both assets meet pre-requisites to be added:
- They have a Chainlink USD price feeds on Polygon (can be found here)
- They have adequate liquidity on Sushi Polygon for managers.