According to a statement made by the Thena (THE) protocol, Next generation liquidity layer, and DEX, Frax Finance recently introduced its more secure method of bridging tokens, Fraxferry. As a result, BNB Chain now hosts native $FRAX stablecoin by Frax Finance and will use THENA’s open marketplace to scale its liquidity on BNB Chain.
$THE emissions for FRAX/BUSD & FRAX/FXS pools will go live on Jan 5
The Thena liquidity ecosystem is set to revolutionize the field by launching on mainnet on Dec. 29. This launch will be followed by a program that rewards 1,000 of the most loyal veFXS holders with an airdrop of veTHE/THE liquidity provider tokens. This program is designed to attract and concentrate the initial liquidity supply through Thena’s marketplace. With this revolutionary program, Thena is sure to have a major impact on the industry and will be the talk of the town.
FRAX was created with the goal of providing a more robust, decentralized, and transparent stablecoin than other alternatives. This is accomplished through an algorithmic pricing mechanism, which allows users to hold and exchange FRAX at a stable market price. In addition, FRAX is backed by a reserve of US Dollars, Euros, and other stable assets, allowing the coin to maintain its stability even in times of market volatility. This unique combination of features makes FRAX a viable alternative to other stablecoins in the market.
The FRAX stablecoin celebrated its two-year anniversary on December 20, 2022, and its team is currently discussing the possibility of launching fraxBTC stablecoin.
On January 5th, 2023, the $THE token emissions will be activated for the first group of FRAX-based pools, resulting in liquidity providers in the FRAX/BUSD and FRAX/FXS pools being incentivized by THE tokens.