Frax Finance launches FRAX stablecoin on NEAR

NEAR issued a statement stating that Frax Finance launched the FRAX stablecoin on NEAR through Ref Finance and launched the FRAX stablecoin on Burrow through FraxFerry and Rainbow Bridge. NEAR and Frax may introduce short-term Treasury yields on NEAR using sFRAX. In the coming months, Frax will natively issue its suite of assets FRAX, sFRAX, frxETH, and sfrxETH on NEAR and Fraxtal, as well as explore NEAR ecosystem LST opportunities. In addition, Frax will be expanded to other protocols besides Ref and Burrow. Ref will launch an incentive program to provide rewards for LPs in USDC/FRAX and NEAR/FRAX pools, as well as stablecoin exchange pools similar to Curve. Users can also earn rewards for using USDC, USDT, and FRAX for lending, etc. on Burrow.