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Reported by The Defiant, Frax Finance has unveiled Frax Bonds (FXB), a utility token that converts into 1 FRAX stablecoin trustlessly upon maturity. The launch marks the completion of Frax’s v3 roadmap, deploying all its new features.
“FXBs are a way to buy future FRAX stablecoins at a particular timestamp for a discount today,” said the team. Their expectation is that bond yields will mirror U.S Treasury rates for similar maturities with the caveat that FXBs “do not guarantee that right, do not confer any legal redeemability assumptions (other than for $FRAX stablecoin tokens).”
Frax Bonds will be usable across DeFi, including Curve Finance pools, trading pairs that are looking for leverage, and trustless debt repayment.
The community behind the stablecoin protocol voted in late December to deploy $20M of its collateral to U.S. Treasuries. It partnered with Centrifuge, an emerging leader in the RWA space.

Frax Finance Launched Frax Bonds (FXB) Token

TokenInsight

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