Frax Finance Joins Forces with Noble to Expand into Cosmos Ecosystem
Frax Finance is teaming up with Noble to bring Frax’s offerings into the Cosmos ecosystem, offering a decentralized alternative to USDC. This collaboration enables the integration of Frax and sFrax tokens directly within the Cosmos network, which consists of more than 80 interconnected blockchains. These tokens can be used for various purposes such as decentralized finance and payments, complementing their current presence on Ethereum with a total locked value exceeding $1.1 billion.
The Partnership: Frax Finance and Noble Collaboration
- Frax and sFrax tokens will be seamlessly integrated into the Cosmos ecosystem via Noble
- Frax token is a decentralized stablecoin combining collateralized and algorithmic mechanisms
- sFrax is a staked version of Frax designed to offer a yield
Within Cosmos, Noble is recognized as the platform for native asset issuance linked to Circle’s USDC stablecoin, allowing it to move across various Cosmos chains like Osmosis, Celestia, Sei, Injective, and Neutron. Currently, there is over $200 million worth of native USDC in circulation following its launch in 2023.
Expanding Horizons: Ethereum Projects Embrace Cosmos
- Lido’s staked ether (stETH) tokens and Dai stablecoin have made their way to the Cosmos ecosystem
- Previous integrations were introduced as bridged versions rather than native tokens
Hot Take: The Future of Frax Finance in Cosmos
Frax Finance’s collaboration with Noble marks a significant milestone in the expansion of its ecosystem into Cosmos. By introducing Frax and sFrax tokens natively within the network, users can benefit from a decentralized alternative to USDC for diverse applications. This strategic partnership underscores the ongoing trend of Ethereum-based projects venturing into new ecosystems to foster innovation and interoperability.
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