Frax Finance to retire algorithmic backing amid stablecoin crackdown By Cointelegraph
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The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol.
The FIP-188 governance proposal — which would change the collateralization model of FRAX — initially posted on Feb. 15 has now reached a quorum with 98% voting in favor, according to a snapshot on Feb. 23 .
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The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol.
The FIP-188 governance proposal — which would change the collateralization model of FRAX — initially posted on Feb. 15 has now reached a quorum with 98% voting in favor, according to a snapshot on Feb. 23 .
Continue Reading on Coin Telegraph
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