ChainCatcher news, according to The Block, Frax Finance is collaborating with Noble to bring the Frax stablecoin into the Cosmos ecosystem.It is reported that the initial issuance of Frax on Noble will include the Frax token, a decentralized stablecoin that combines collateral and algorithmic mechanisms to achieve peg stability; and sFrax, which is the staked version of Frax designed to provide yield.

ChainCatcher message, FRAX v3 has launched the Frax Bond (FXB) module, and the team has completed the design of FRAX v3 and the deployment of all new features. FXB is priced in FRAX stablecoin (rather than USD), allowing for trustless debt repayment through the FXB contract. The first three FXB timestamps are June 30, 2024, December 31, 2024, and December 31, 2026.

ChainCatcher message, Frax Finance has initiated a proposal in the Arbitrum governance forum, seeking a grant of 1.5 million ARB to incentivize users of the Frax stablecoin and staked ETH tokens on Frax Finance on Arbitrum, thereby attracting more potential users to the Arbitrum ecosystem. The incentives will be distributed among sfrxETH, frxETH, FRAX, and FPI (Frax's unique anti-inflation stablecoin) and will utilize all funds within six months after the grant approval.Frax Finance also stated that if the application is approved, it will match a certain amount of funds for simultaneous incentives.

ChainCatcher news, the Frax Finance community has voted to approve a governance proposal that sets the target collateralization ratio (CR) of the FRAX stablecoin to 100%, removing the protocol's algorithmic support for the stablecoin, making FRAX a fully collateralized stablecoin. Additionally, the proposal states that it will not rely on minting FXS to achieve the CR increase, but will instead use the protocol's revenue to fund the increased CR, and FXS buybacks will be paused, with veFXS yields remaining unchanged. Furthermore, the proposal authorizes the purchase of $3 million of fxsETH each month to increase the stablecoin reserves.It is reported that FRAX was originally designed as a partially collateralized, partially algorithmic stablecoin, with its collateralization ratio adjusted based on the market demand for FRAX. (source link)