“We built FraxNet as the first runtime neobank. It’s essentially a neobank with an app store.”
@samkazemian (CEO of @fraxfinance) keynote on “The Great Unbundling of Finance” at @token2049.
Key moments:
01:05 From Crypto Islands to Merging Financial Systems
02:03 Why Every Neobank Sounds the Same
02:52 What a Real Network Effect Actually Is
04:10 FraxNet: A Neobank With an App Store
06:59 One Identity, Every Financial App
09:20 What If Marina Bay Sands Accepted Digital Assets
11:36 The Most AI-Friendly Finance Platform in Web3, by Accident
🗞️ There are currently plenty of places to put your frxUSD to work!
We picked the best opportunity's for you:
¤ @Morpho: the Frax Ecosystem Accelerator lends frxUSD against Stake DAO frxUSD LPs, built to grow the liquidity of projects that choose frxUSD.
¤ @GearboxProtocol: the frxUSD pool funds leveraged positions in tokenized RWAs like Midas mF-ONE and mGLOBAL
¤ @fraxfinance: sfrxUSD delivers the best risk-adjusted yield. Deposit frxUSD once and earn automatically, exit anytime
¤ @StakeDAOHQ: boosts CRV rewards on @CurveFinance pools pairing frxUSD with sVUSD, sDUSD, DUSD and USD3. Post the sVUSD or USD3 LP on the Frax ecosystem Accelerator, borrow frxUSD and keep the boost.
¤ Loop: borrowing frxUSD on Gearbox to hold more mF-ONE, up to 5x leverage.
Some of these rates are boosted by rewards, which usually don't last forever!
Incentives on @CurveFinance go live in 2h!
Projected LP APRs:
• msETH/WETH: 4.25 - 10.63%
• frxUSD/msUSD: 7.63 - 19.08%
msETH/WETH was the top gainer in CRV gauge emissions this week.
Stake your LP tokens through @StakeDAOHQ to access boosted CRV rewards.
Supply $frxUSD. Earn 20%. 👀
The Frax Ecosystem Accelerator on @Morpho is live, and frxUSD suppliers are currently earning 20.25% net APY.
Supply frxUSD → it's lent to frxUSD LPs borrowing against their @StakeDAOHQ Curve LPs → you earn the interest plus frxUSD, WFRAX and USDC rewards.
Sponsored by @fraxfinance, curated by @crossworldsfi.
Be fast or be last, Only while the rewards last!
Lend frxUSD against Stake DAO LPs.
The Frax Ecosystem Accelerator is a ethereum:0xcacd6fd266af91b8aed52accc382b4e165586e29 vault on @Morpho, launched with @fraxfinance and curated by @crossworldsfi.
• Supply frxUSD to the vault
• Borrowers post Stake DAO LPs of Curve frxUSD pools as collateral
• Borrowers pay interest to the vault
Extra rewards on top from @InverseFinance, @3janexyz, @hemi_xyz, Frax and Stake DAO.
Supply: https://t.co/FljHH55aYi
Everything you need to get started 👇
How it works (docs):
https://t.co/mKVUHmXgJz
frxUSD reserves, verified:
https://t.co/gIMN2QGIIn
All Frax audits:
https://t.co/LeL0EhMYOH
Launch your own stablecoin:
https://t.co/tfyH2epgPK
We're seeing more and more consortiums form, and a steady stream of companies and banks reaching the same conclusion: they want their own stablecoin.
Three reasons keep coming up:
Efficiency. Dollars that move onchain 24/7, across chains, instead of waiting on banking hours and wire cut-offs.
Control. Your brand, your users, your distribution, instead of growing someone else's coin.
A new revenue stream. A stablecoin is a float business. Users hold the dollar, the reserves sit in T-bills, and the issuer earns the yield. Every $100M held in someone else's stablecoin is millions a year earned by someone else. Issue your own, and that yield becomes yours, to keep or to streamline back to users as rewards.
But launching a stablecoin isn't the hard part anymore. Choosing what it stands on is.
Your coin is only as strong as what's underneath it: the reserves, the redemptions, the security and the liquidity. If any of that breaks, it's your brand on the line. In this new world, who you issue with matters more than anything.
Here's why we think @fraxfinance is the go-to.
Through FraxNet, Frax offers Stablecoins as a Service: you launch your own branded dollar on the same infrastructure that already runs frxUSD, its Treasury-backed stablecoin. Your coin inherits everything underneath it:
Real backing: Every token is backed 1:1 by $frxUSD in an auditable custodian vault. frxUSD is backed by tokenized Treasury funds like BlackRock BUIDL, WisdomTree WTGXX and Superstate USTB, with reserves verified on @DefiLlama.
Real redemptions: Redeem 1:1 back to onchain dollars, 24/7 through FraxNet. Verified users can off-ramp straight to a U.S. bank account via ACH and wire.
Real security: A multi-audited stack, built by a team that has run stablecoins onchain since 2020, and designed by Frax to be GENIUS Act compatible.
Real liquidity: Your coin redeems 1:1 into frxUSD and moves through FraxZero, with Fraxtal as the hub. 1:1 mint and burn across 20+ chains.
Real economics: The T-bill yield on your reserves is passed to you, tracked on a live balance sheet.
Stablecoins give businesses new ways to put their money to work: faster and cheaper to move, earning while it sits, and available to anyone, anywhere, around the clock. That means a better deal for them, a better product for their users, and new customers they could never reach through TradFi rails alone.
You bring the brand. Frax brings the full stack.
Loop a @CurveFinance LP from a single ethereum:0xcacd6fd266af91b8aed52accc382b4e165586e29 deposit.
Example with the USD3/frxUSD LP:
• Deposit frxUSD
• Set your leverage
• Zap
USD3 by @3janexyz
frxUSD by @fraxfinance
Curated by @crossworldsfi
Zap: https://t.co/6ssgvmy8Px
🗞️ Day one of the @fraxfinance Ecosystem Accelerator: $65.8K $frxUSD already put to work
The new @Morpho vault, sponsored by @fraxfinance and curated by @crossworldsfi, lends $frxUSD to LPs of the projects that pair with it.
¤ Lend: $200.6K frxUSD supplied, earning 8.83% net APY incl. frxUSD, WFRAX & USDC rewards
¤ Borrow: $84.9K of frxUSD LPs posted as new collateral, $65.8K frxUSD borrowed from the vault
The best part: the collateral never stops working. Staked via @StakeDAOHQ, the LPs keep earning their boosted APR:
¤ frxUSD/sVUSD: 34.21%
¤ frxUSD/USD3: 12.06%
¤ frxUSD/sDOLA: 6.17%
Earn on your LP. Borrow on top.