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CoinLucid > Blog > All News > DeFi > BNB Chain Now Hosts Native FRAX
All NewsDeFi

BNB Chain Now Hosts Native FRAX

Ed Miles
Last updated: 2022/12/24 at 9:53 PM
By Ed Miles 2 Min Read
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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

1/ @fraxfinance recently introduced its more secure method of bridging tokens, Fraxferry. As a result, BNB Chain now hosts native $FRAX

They will use THENA's open marketplace to scale its liquidity on @BNBCHAIN 🚀

THE emissions for FRAX/BUSD & FRAX/FXS pools go live on Jan 5 pic.twitter.com/HkP5C0DI82

— Thena (@ThenaFi_) December 23, 2022

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.

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TAGGED: FRAX, THE, THENA
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