Axial <> Frax Partnership
To add to the many wonderful partnerships we’ve developed as of late, Axial is now proud to announce our partnership with Frax, the issuer of the very first fractional-algorithmic stablecoin, FRAX.
The FRAX token brings utility and stability to the Avalanche ecosystem through its innovative backing mechanisms, providing a great alternative to those steering clear of stablecoins issued through centralized means. This is why FRAX was one of the tokens selected to be part of Axial’s AC4D pool, allowing the Avalanche community to swap to and from the token and other value-pegged assets with much lower fees and slippage than in other exchanges.
This partnership between Axial and Frax will bring $300,000 in FXS tokens as incentives for those providing liquidity in Axial’s AC4D pool. This means that by depositing FRAX, or other tokens into AC4D, users will be able to receive swap fees in addition to AXIAL and FXS as the extra cherry on top. We hope with increased liquidity in the pool, both communities will benefit through even lower slippage on FRAX swaps.
We look forward to seeing what else this partnership can bring forward in the future, and will always be open to new ways our communities can work together to make our DeFi ecosystem even better for our users.
Axial is an Avalanche-native decentralized exchange that is the centerpiece for liquidity of value-pegged assets in the ecosystem. It provides traders swap functionality with ultra low fees and slippage, and is integrated into the best DEX aggregators in the space. Axial specializes in providing liquidity between a variety of stable assets, including bridged, synthetic or derivative assets.
The Axial DAO was the first project to be launched as a spinout of the Snowball DAO, led by one of the most experienced teams on Avalanche with a great record of transparency, community-focus and innovation.
About Frax Finance
Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.