Announcing NearPad x Frax Finance Partnership
With the v1 launch of our DEX, Rose deployment on mainnet, and launchpad pipeline, NearPad’s ecosystem is growing rapidly and so are its needs. In our bid to cater to these needs, while optimizing the potentials of the ecosystem, we’ve been exploring relationships with leading protocols in the DeFi space to strengthen our ecosystem.
NearPad is proud to announce we’re teaming up with Frax to bring $FRAX and $FXS over to the Aurora and Near ecosystem.
Frax is the world’s first fractional-algorithmic stablecoin which is partially backed by collateral and partially stabilized algorithmically. In just a year Frax has surpassed $1 billion in market cap cementing it’s legitimacy as a reliable stablecoin within the space. During this time Fraxmanaged to maintain peg successfully even during many of the highly volatile market swings. We are delighted to be partnering with one of the best decentralized stablecoins and excited to welcome the Frax community to NearPad on Aurora.
NearPad will soon create two new pools on the DEX: FRAX/PAD and FXS/PAD which will be incentivized starting week 3 of the Trailblazer program. Frax will propose an FXS gauge to create dual rewards for farmers. Users will need to bridge their Frax assets via the Rainbow bridge from Ethereum to Aurora, where they then will be able to use gasless transactions to swap, provide liquidity, and farm assets on NearPad’s DEX.