Frax Finance will launch a staking vault sFRAX that utilizes U.S. Treasury yields

According to ChainCatcher, as reported by Blockworks, Frax Finance will launch the sFRAX vault today, which utilizes the yields from U.S. Treasury bonds. It opens a brokerage account in partnership with Lead Bank in Kansas City to purchase U.S. Treasury bonds, tracking the Federal Reserve's interest rates to maintain relevance. Users will be able to deposit funds into sFRAX and earn a 10% yield, which will then shrink to the Federal Reserve's current IORB rate, approximately 5.4%.