Frax Stablecoin Backing to Feature Layer 1 Tokens, Real-World Loans

They aren’t competing, however. Terra and Frax teamed up last week to create the “4pool,” a liquidity pool on stablecoin swap service Curve Finance. The pool is composed of two algorithmic stablecoins, UST and FRAX, and two centralized stablecoins, USDC and USDT, and aims to become the most-liquid offering for traders on Curve.