HomeDefiProtocol Update: Examining Frax Finance's "DeFi Trinity"

Protocol Update: Examining Frax Finance’s “DeFi Trinity”

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Introduction

Frax Finance is a household name for experienced DeFi users. In our report on the protocol last year, we highlighted its long-term vision for building the “holy trinity of DeFi.” This includes three important components: a stablecoin system, a lending market, and an exchange.

A lot has happened since then. In the last year, they have released Fraxlend and Fraxswap to complete the trinity, along with several other products. This post will look at Frax’s newest product launches and examine their traction.

The FRAX stablecoin

Frax’s USD-pegged stablecoin has grown to be the fifth largest stablecoin, with a market capitalization of $1B. Market capitalization fell significantly after the UST crash last year, which sent demand

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