Saber Launches New FRAX-UST and FRAX-CASH Pools On Solana

Published on: 18.12.2021

Saber is excited to announce in collaboration with TerraFrax Finance, and CASH, FRAX-UST and FRAX-CASH pools are coming to Solana!

 is the first fractional-algorithmic stablecoin, the concept of which is when a cryptocurrency is partially backed by collateral and partially stabilized algorithmically.

 is a USD-pegged token from the Terra ecosystem with over $2B in circulating supply. UST maintains its peg through an arbitrage mechanism collateralized by LUNA. LUNA is the native token of the Terra blockchain, and wLUNA is a wrapped version of LUNA that functions as an SPL token on Solana.

 is a USD stablecoin backed by Saber USDC / USDT LP Tokens. Users can mint CASH via these LP tokens, and redeem LP tokens for CASH on cashio.app. Learn more about how Cashio built a stablecoin using Saber LPs on Cashio’s Twitter. Saber is excited to continue supporting the diverse stablecoin ecosystem on Solana!

Saber Labs contributes to Saber, the leading cross-chain stablecoin exchange on Solana. Saber provides the liquidity foundation for stablecoins, which is a type of cryptocurrency whose value is pegged to another asset, like the US dollar or bitcoin. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

SOURCE

Market Stats:
BTC Dominance: 64.91%(-0.17%/24h)
ETH Dominance: 8.89%(-0.06%/24h)
Defi Market Cap: $103.51B(-5.81%/24h)
Total Market Cap: $3282.34B(+0.13%/24h)
Total Trading Volume 24h: $94.52B(-6.70%/24h)
ETH Market Cap: $291.89B
Defi to ETH Ratio: 35.46%
Defi Dominance: 3.04%
Altcoin Market Cap: $1151.62B
Altcoin Volume 24h: $49.88B
Total Cryptocurrencies: 34931
Active Cryptocurrencies: 9556
Active Market Pairs: 104390
Active Exchanges: 828
Total Exchanges: 10572
BTC: 107176.95$(0.22%/1H)
ETH: 2418.2$(0.27%/1H)
AVAX: 17.65$(0.68%/1H)
BNB: 645.67$(0.09%/1H)
MATIC: 0$(0.95%/1H)
FTM: 0$(-0.27%/1H)
ADA: 0.56$(0.76%/1H)
DOT: 3.38$(0.85%/1H)
UNI: 6.88$(0.46%/1H)
CAKE: 2.16$(0.12%/1H)
SUSHI: 0.58$(0.29%/1H)
ONE: 0.01$(0.48%/1H)