what is FRAX?
$FRAX is a blockchain project building infrastructure for the next generation of finance, centered around three core pillars:
1. The frxUSD Stablecoin: A digital dollar that is fully backed by tokenized U.S. Treasury assets, with partners like BlackRock and Superstate mentioned. It is designed to be stable and scalable.
2. The Fraxtal Blockchain: A high-performance Ethereum Virtual Machine (EVM) Layer 1 network built for scalability, low fees, and security. It aims to support high transaction speeds (100k+ TPS).
3. The Frax Network (FraxNet): A non-custodial platform that allows users to mint, redeem, and earn yield on frxUSD. You can directly receive frxUSD in your crypto wallet and earn a yield (3.39% APY is shown) from the underlying Treasury assets.
The overarching goal is to create an open and accessible financial system where money can move freely across borders. You can use the platform to convert other stablecoins (like USDC or USDT) or funds into frxUSD and earn yield simply by holding it in your wallet.
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