sfrax

ChainCatcher news, the first part of the Singularity roadmap proposal from Frax Finance has opened community voting, with the voting deadline set for March 31 at 8:17.This includes the launch of Fraxtal; all Frax assets, including FRAX, sFRAX, frxETH (and new Frax assets), will be issued on Fraxtal first; the launch of 23 L3s within the next year to kickstart the Fraxtal Nation community; and new FXS Singularity token economics.

ChainCatcher news, the total amount of sFRAX, the staking vault under Frax Finance that utilizes U.S. Treasury yields, has exceeded 10 million, reaching 11,716,084.ChainCatcher previously reported that the staking vault sFRAX under Frax Finance, which utilizes U.S. Treasury yields, has been launched, and the total amount of sFRAX has now reached 4,655,361, with an annualized yield of approximately 10%.

ChainCatcher news, the staking vault sFRAX under Frax Finance that utilizes U.S. Treasury yields has been launched, with a total supply of sFRAX reaching 4,655,361 tokens and an annual yield of approximately 10%.According to previous reports, Frax Finance will launch the staking vault sFRAX that utilizes U.S. Treasury yields, allowing users to deposit funds into sFRAX and earn a yield of 10%, which will then shrink to the current IORB rate of the Federal Reserve, around 5.4%.

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%.

ChainCatcher message, the Frax core team has released the "FIP - 2XX" sFRAX proposal on the governance forum. This proposal plans to introduce Staked FRAX (sFRAX) into the Frax ecosystem, allowing users to deposit FRAX stablecoins into a smart contract (standard ERC-4626) and earn interest (denominated in FRAX stablecoins).The core team stated that similar to the Dai Savings Rate (DSR) concept, sFRAX focuses on addressing the near-zero duration yield curve of FRAX, providing users with the opportunity to earn FRAX stablecoins while contributing to the growth of FRAX supply. Apart from the deposited and earned FRAX stablecoins, sFRAX does not guarantee any yield on on-chain or off-chain assets or any redemption rights.