The brand new providing will add to Frax’s current product suite, which includes FRAX, a completely collateralized algorithmic stablecoin, a lending platform, an automatic market maker, an inflation-linked stablecoin, FPI, and the liquid staking token frxETH. As of the time of writing, FRAX has a market cap of $647 million, the seventh-largest stablecoin on the planet, per CoinGecko.
