Retrograde and FRAX Partnership
Retrograde is proud to announce a new partnership with FRAX, the fractional algorithmic stablecoin protocol.
Retrograde understand the importance of partnering with DAOs and Protocols that have a long term interest in sustainable, deep liquidity on Terra.
FRAX were one of the earliest DAOs to accumulate Convex’s native token CVX, and hold the most of any DAO. They also pay the largest sums in bribes of any protocol on Ethereum to increase the APY of FRAX pools and increase their liquidity.
Their strategy naturally continues with an investment and partnership with Retrograde.
While FRAX helped to bring UST to Ethereum, Retrograde will bring the first FRAX tokens to Terra.
“We are excited to partner with Retrograde and begin FRAX’s journey on Terra, with the first FRAX tokens bridged from Ethereum. It should be fascinating to see how the TeFi ecosystem matures, as Astroport becomes a battleground for DAOs and Protocols to achieve deep liquidity for their tokens” — Sam Kazemian
About FRAX
The FRAX team and community share the values held by the Terra community. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic form of money. The team has a close and powerful relationship with Terra, working closely with TFL to further the cause of decentralized money and dictate the future of stablecoins on Ethereum and beyond.
About Retrograde
Retrograde is a protocol built on top of Astroport, allowing ASTRO stakers and Astroport liquidity providers to get the most out of the Astroport platform, with the least cost and effort.
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