Frax Finance officially launches the lending market Fraxlend
According to The Block, the hybrid algorithm stablecoin protocol Frax Finance has officially launched its own lending market, Fraxlend, allowing users to borrow or lend assets using any token that is priced by Chainlink. Fraxlend will enable the protocol to mint new FRAX through the lending process.
In addition, Fraxlend allows the Frax Finance protocol to directly lend FRAX and earn interest through existing money markets. The protocol can now complete the entire process internally, generating more cash flow that can be used to buy back and burn its governance token FXS. (The Block)
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