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Tl;dr: Frax’s LSD offering is taking off.
Frax Finance is a DeFi conglomerate. Frax is the fifth largest stablecoin with a circulating supply of $1.0B, a partially-collateralized, partially-algorithmic, USD-pegged stablecoin.
Within the Frax empire is also the entity behind the creation of FraxSwap, a time-weighted AMM (TWAMM), Frax Lend, an isolated lending and borrowing protocol, FPI, a stablecoin pegged to CPI, and Frax Ether, a liquid-staking protocol. Frax is governed by the FXS token, which is used as seigniorage for the FRAX stablecoin and can be locked for veFXS, which entitles holders to governance rights and protocol revenues.
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