DeFi platform issuing stablecoins Frax Finance, Ethereum ( ETH) announced a liquid staking service built on the staking system.
With its two different structures, Frax Finance offers users DeFi offers service and stablecoin usage. The crypto project, which accelerates ecosystem development studies, liquid staking will launch its service in two weeks. The service, which has yet to pass the testing stages, will provide users with seamless access.
Frax Finance Announces Staking Service
Decentralized stablecoin issuer Frax Finance is launching its liquid liquid staking system for the ETH network. The service will allow users to stake ETH. Staked products, value protection and reflection product Frax Ether(frxETH) will be reflected in wallets.
Frax developer Jack Corddry, said:
As long as nothing unforeseen happens, everything will be fully public in two weeks. But the whole system is already live and block operations have started.
The platform has tested the new service on the ETH mainnet. Having successfully completed the security audits of liquid staking tokens, the platform provides their final checks.
The project also succeeded in establishing a pool. In this way, frxETHproducts can be exchanged for ETH without volume shift and depreciation.
The platform’s decentralized liquid staking offer, Lido Financeand RocketPool It will compete with existing similar services such as The Frax team stated that it is necessary to be ready for the most interesting ETH liquid staking service.
