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Frax Finance: FXS will be rebranded as FRAX, Stable Coin FRAX will be converted to frxUSD
Foresight News, the hybrid Algorithmic Stablecoin protocol Frax Finance announced that Frax Shares (FXS) will be rebranded as FRAX, and the Stable Coin FRAX will be converted to frxUSD. Users do not need to take any action, the existing FRAX Stable Coin will continue to operate normally. In addition, the team is also creating an encryption strategic reserve and will invest the income in BTC and ETH. Furthermore, frxUSD will be launched on chains such as ink, Movement, NEAR Protocol, and Sonic.