FRAX Finance on Chainlink Live features FRAX Founder discussing Frax’s fractional-algorithmic stablecoin protocol. Parts of the FRAX stablecoin supply are backed by collateral and parts of the supply are maintained algorithmically. FRAX’s collateral requirements fluctuate algorithmically depending on its market price. FRAX uses Chainlink Price Feed oracles to source secure and reliable market data for those prices.
Frax is also a community-governed project with a strong emphasis on being a fully autonomous stablecoin, requiring no active management from users or developers. As FRAX scales to secure more value for users, the protocol needed to rely on decentralized and robust sources of data for on-chain actions.
We will also discuss the upcoming Frax Price Index (FPI), the world’s first attempt at creating a crypto native Consumer Price Index. The FPI will be a combination of a Chainlink CPI oracle custom made for Frax as well as new crypto native indices. The vision for the FPI is to create a new fully decentralized unit of account for stablecoins to peg to which is more inflation-resistant than the dollar but still price stable to a basket of goods.
Featuring: Sam Kazemian, Founder at Frax
Frax Twitter: https://twitter.com/fraxfinance
Frax Telegram: https://t.me/fraxfinance
Frax Blog: https://fraxfinancecommunity.medium.com/
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