Frax Staked frxUSD
Staked Frax USD (sfrxUSD) is a yield-bearing stablecoin implemented as an ERC4626 token. sfrxUSD is fully redeemable for frxUSD at an increasing rate proportional to the yield mechanism (described below). sfrxUSD is non-rebasing and can always be redeemed for the underlying frxUSD with no unstaking fee or price impact. sfrxUSD has a unique yield design in that it targets a benchmark-rate strategy that alternates among the best of three governance-approved strategies: carry trade, algorithmic market operations (AMOs), and the Interest on Reserve Balances/T-Bill (IORB) rate. This ensures that sfrxUSD’s APY is the most competitive on-chain yield.
Overview
Staked Frax USD (sfrxUSD) is a yield-bearing stablecoin implemented as an ERC4626 token. sfrxUSD is fully redeemable for frxUSD at an increasing rate proportional to the yield mechanism (described below). sfrxUSD is non-rebasing and can always be redeemed for the underlying frxUSD with no unstaking fee or price impact. sfrxUSD has a unique yield design in that it targets a benchmark-rate strategy that alternates among the best of three governance-approved strategies: carry trade, algorithmic market operations (AMOs), and the Interest on Reserve Balances/T-Bill (IORB) rate. This ensures that sfrxUSD’s APY is the most competitive on-chain yield.
- Ecosystem
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Team
Team information has not been disclosed.
Funding history
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