FRAX is an innovative stablecoin protocol that seeks to combine the strengths of both algorithmic and collateral-backed stablecoins to maintain price stability, making it unique among decentralized finance (DeFi) stablecoins.

Deployment of FRAX on the NEAR Blockchain

Frax's deployment on the NEAR blockchain represents its expansion into a high-performance, low-fee, and eco-friendly ecosystem, enhancing access to FRAX for users within NEAR’s ecosystem. By deploying on NEAR, FRAX benefits from:

• Interoperability: NEAR's Rainbow Bridge allows seamless transfers of assets between Ethereum and NEAR, making FRAX more accessible and versatile for users and dApps across both blockchains.

• Lower Transaction Fees: NEAR’s cost-effective transaction fees enable cheaper transactions for FRAX users, which is particularly beneficial for smaller transactions, boosting its appeal in daily DeFi use cases.

• Increased Speed: With NEAR’s fast consensus mechanism, FRAX transactions settle quickly, improving user experience, especially for DeFi applications requiring quick confirmations.