Frax Finance launches FRAX stablecoin on NEAR

Frax Finance has launched the FRAX stablecoin on NEAR through Ref Finance, and on Burrow through FraxFerry and Rainbow Bridge. NEAR and Frax may introduce short-term government bond yields on NEAR using sFRAX. In the coming months, Frax will natively issue its asset suite FRAX, sFRAX, frxETH, and sfrxETH on NEAR and Fraxtal, and explore NEAR ecosystem LST opportunities. In addition, Frax will expand to other protocols beyond Ref and Burrow. Ref will launch an incentive program to reward LPs in USDC/FRAX and NEAR/FRAX pools, as well as stablecoin exchange pools similar to Curve. Users can also receive rewards for borrowing and lending USDC, USDT, and FRAX on Burrow.