frax

The stablecoin and payment company Frax, headquartered in the United States, announced that it has submitted an application for its own top-level domain .frax to ICANN, claiming this is the first top-level domain application from a cryptocurrency company published by ICANN. The application is part of the 2026 New Generic Top-Level Domain Program and is supported by ICANN-accredited corporate domain registrar MarkMonitor. If approved, .frax will become a global internet top-level domain similar to .com and .org.Frax plans to allow users to own and manage .frax domain names on its blockchain Fraxtal through the Frax Name Service, while being resolved via the global domain name system. Related registrations will enter the Frax Burn Engine and permanently destroy FRAX. Founder Sam Kazemian stated: the cryptocurrency naming system allows internet identities to be owned, ICANN domains make them universally accessible, and .frax combines both, aiming for ownership to remain on-chain, domain names to be universally available, and to become programmable financial endpoints for people, businesses, applications, and AI agents.The plan will also extend Frax's financial network built around the fully-backed digital dollar frxUSD and the institutional connectivity platform FraxNet. Frax plans to explore the agency and machine payment functionalities of .frax domain names, including support for standards like x402, so that websites, applications, and autonomous software agents can identify counterparties, access services, and programmatically initiate stablecoin payments. Frax claims to have been serving users since 2020 and ranks 5th in the 2026 Fortune Crypto 100 stablecoin category.

According to Binance spot data, the market has experienced significant fluctuations. DUSK has dropped by 18.31% in the last 24 hours, while ACA and FRAX have also hit new lows today, with declines of 5.8% and 21.27%, respectively.On the other hand, KITE has reached a new high for the week, with an increase of 23.86%. Additionally, ACX has also seen a new low for the week, with a decline of 14.81%.

According to Binance spot data, the market has experienced significant fluctuations. DUSK surged by 12.46% within 5 minutes, while ASTR saw a 24-hour increase of 7.83%, reaching a new high for the day.In addition, FRAX is in a "bottoming rebound" state, with an increase of 6.06%, while STO is in a "high pullback" state, with a decrease of 7.74%. Other tokens such as GTC and THETA also reached new highs for the day.

Binance will launch Frax (FRAX) related products on January 15, 2026, at 16:00, including Binance Earn, leveraged trading, and futures. Users can participate in the FRAX principal-protected earning product through Binance Earn.In addition, FRAX will also be available on the one-click buy and swap trading platform, allowing users to purchase and exchange. Binance Futures will launch the FRAX USDT perpetual contract, with a maximum leverage of up to 50 times.

Binance will stop trading and remove all existing FXS spot trading pairs (FXS/USDT) on January 13, 2026, at 11:00, and will open FRAX/USDT spot trading on January 15, 2026, at 16:00. The old FXS tokens will be exchanged for new FRAX tokens at a ratio of 1:1. Deposit and withdrawal services will be suspended on January 13, 2026, at 11:30, and users are advised to handle related matters in advance.

ChainCatcher message, Frax founder Sam Kazemian posted on X, stating that for stablecoin issuers and infrastructure companies, the key point of competing to submit the Hyperliquid stablecoin USDH issuance proposal is not about revenue sharing; the real value lies in achieving interoperability and deep 1:1 integration with Hyperliquid's massive distribution scenario. In fact, all parties shortlisted for the proposal (Frax, Paxos, Agora) have expressed their willingness to return 100% of the revenue.

ChainCatcher news, stablecoin issuers Paxos, Frax Finance, Agora, and others are competing for the issuance rights of the upcoming USDH stablecoin from Hyperliquid. Hyperliquid announced this plan last Friday, stating that the goal is to launch a "USD stablecoin that prioritizes Hyperliquid, aligns with Hyperliquid's philosophy, and is compliant," and has reserved the USDH token code for this purpose.Hyperliquid invites teams to submit proposals, with the winner to be selected through validator voting, gaining the right to purchase the token code and issue the token. Paxos submitted a USDH bidding proposal yesterday, promising to provide compliance with the MiCA and GENIUS acts, support for native deployment on HyperEVM and HyperCore, and to allocate 95% of interest income for HYPE token buybacks, redistributing the repurchased tokens to "ecosystem programs, partners, and users."Frax proposed a "community-first" proposal, planning to peg USDH to frxUSD at a 1:1 ratio, with frxUSD backed by BlackRock's yield-generating on-chain treasury fund. Frax stated, "100% of the underlying treasury yield will be directly distributed to Hyperliquid users through on-chain programmatic means, with Frax charging no fees."Hyperliquid's current stablecoin deposits can generate an annualized yield of $220 million. Agora has also formed a joint bidding team for USDH, committing that "100% of net income" from USDH will be allocated to Hyperliquid for platform assistance funds or HYPE token buybacks. Ethena Labs has also hinted at possibly submitting a USDH proposal on the X platform.Hyperliquid requires companies to submit proposals by September 10 (Wednesday), with voting taking place on September 14 (Sunday). The Hyperliquid Foundation stated it will "effectively abstain" from participating in the vote.

ChainCatcher news, Frax founder and CEO Sam Kazemian posted on X that he will also serve as the CTO of Stable, the stablecoin public chain invested by Tether, to promote the deep integration of the Frax, Stable, and Tether ecosystems.

ChainCatcher news, according to Onchain Lens monitoring, the GMX Security Committee has received 10,000 ETH (approximately 30 million USD) and 10.5 million USD in FRAX returned by the hacker.Previously, GMX suffered losses exceeding 42 million USD due to an attack, and the hacker's address still holds 1,700 ETH, worth approximately 5.12 million USD.

ChainCatcher news, according to PeckShield monitoring, the GMX hacker has returned 5.49 million FRAX to the GMX deployer.

ChainCatcher news, according to on-chain data analyst Yu Jin's monitoring, the GMX hacker has exchanged the assets stolen from the GMX V1 pool for ETH. The stolen assets include WBTC / WETH / UNI / FRAX / LINK / USDC / USDT, and currently, all assets except for FRAX have been sold for 11,700 ETH (approximately 32.33 million) and dispersed into 4 wallets for storage.The GMX hacker now holds 11,700 ETH and 10.495 million FRAX through 5 wallets. The total value is 42.8 million USD. This operation likely also indicates that the hacker has rejected the GMX project's proposal to repay the assets in exchange for a 10% white hat bounty.

ChainCatcher news, the decentralized stablecoin protocol Frax Finance community has initiated a new proposal, suggesting to authorize an initial investment of 5 million dollars in the Trump family's crypto project World Liberty Financial (WLFI), positioning FRAX as part of the WLFI ecosystem, with subsequent investments of up to 10 million dollars, depending on the success of the collaboration.

ChainCatcher news, according to official information, the Frax Finance community's vote on adopting the Bladex Dollar Institutional Digital Liquidity Fund Limited (BUIDL) as the reserve asset for the stablecoin Frax USD (frxUSD) is now live. The proposal will end on January 1, 2025, and currently has a support rate of 100%.According to the voting summary, the benefits of passing the Frax Dollar proposal may include creating yield opportunities, enhancing liquidity, providing transfer options, and reducing counterparty risk due to Bladex's support.

ChainCatcher news, according to The Block, Securitize Markets, as the transfer agent and broker for BlackRock's dollar institutional digital liquidity fund and its BUIDL token, has drafted a governance proposal for Frax Finance. The proposal states: "In addition to providing utility, relative safety, and convenience for Frax USD, it can also significantly reduce counterparty risk in its reserves by partnering with BlackRock."If the proposal is approved, Frax USD will adopt the BUIDL token as a supporting asset, similar to stablecoins like Ethena's USDtb. BUIDL currently manages assets worth over $530 million, most of which are short-term U.S. Treasury bills.Although the proposal has not yet been put to a vote, the early reactions from Frax Finance DAO members have been generally positive so far. "I fully support this proposal as it brings together the essence of TradFi and DeFi. I believe this partnership will shape the future of the financial industry."

ChainCatcher news, according to The Block, the hybrid algorithm stablecoin protocol Frax Finance is collaborating with IQ to develop an artificial intelligence tech stack. This AIVM tech stack is a parallel blockchain developed internally within the project L2 Rollup protocol Fraxtal, utilizing a new reasoning proof consensus system. This reasoning proof mechanism employs artificial intelligence and machine learning models to validate transactions on the blockchain network.

According to ChainCatcher's message, the Snapshot governance page shows that Convex Finance has initiated a proposal to significantly reduce the PYUSD holdings.The proposal states that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should diversify away from low-yield assets, and therefore it is suggested to reduce the over two million dollars of PYUSD in the Curve FRAX/PYUSD to a maximum of 500,000 dollars.The current proposal has a 99.51% opposition rate and will end on September 20.

ChainCatcher news, the stablecoin protocol Frax Finance has announced the launch of the domain name service FNS, which is now open for user applications. FNS is a branch of the Ethereum Name Service (ENS) within the Frax ecosystem. It retains the core functionalities of ENS, but FNS burns FXS tokens.Every year, 1,000 three-letter FNS domain names will burn 1 million FXS tokens.

ChainCatcher message, the re-staking infrastructure provider Symbiotic announced that the first batch of 14 networks has joined its shared security framework ecosystem, including Frax, EtherFi, RedStone, Arrakis, Stride, Capx, Primev, Router, Pragma, Hinkal, Inference Labs, Ditto, RollChains, and Leaf. These projects will leverage Symbiotic's technology to enhance security and decentralization in their respective fields, covering various aspects such as DeFi, oracle services, cross-chain bridging, AI resource matching, MEV optimization, and privacy solutions.In addition, Symbiotic plans to launch its mainnet in September.