TechFlow News – Algorithmic stablecoin protocol Frax Finance has announced it is considering purchasing billions of dollars worth of major cryptocurrencies (such as ETH, BTC) as reserve collateral for its stablecoin. Unlike Terra, which only bought Bitcoin, Frax plans to acquire the native tokens of all blockchains on which its stablecoin has been issued, including Ethereum, Avalanche, BNB Chain, Fantom, Harmony, Polygon, Solana, and Arbitrum. Additionally, unlike Terra’s approach, Frax will utilize its Fraxswap platform to execute these large token orders.Source link
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