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Frax Finance has been one of the more innovative protocols in crypto. It's a stablecoin protocol, so the project creates tokens that are pegged to the values of other assets for easy use across the crypto economy.
This month, they shook things up when they introduced Frax Bonds (FXB) to complete the FRAX token’s V3 upgrade.
In simple terms, Frax Bonds are similar to traditional bonds but operate on the blockchain, offering returns comparable to those of short-term U.S. Treasury bonds in the traditional finance sector. This dynamic allows crypto investors to access yields similar to one of the most popular real-world assets (RWA) but entirely onchain.
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