Zenlink has Partnered With Frax Finance
Zenlink Partners with Frax Finance and Launches FRAX Liquidity Incentive Program on Moonbeam Network
Zenlink is the first native cross-chain DEX protocol based on Polkadot. Zenlink DEX Dapp is currently live on Moonbeam, Moonriver and Bifrost, and it is one of the most widely used DEXs in the Polkadot ecosystem. Frax is the first fractional-algorithmic stablecoin protocol, which is open-source, permissionless, and entirely on-chain — currently implemented on Ethereum and other chains.
Through this partnership, Zenlink will help Frax expand to the Moonbeam network and drive widespread adoption of FRAX on the Moonbeam network. Ethereum <> Moonbeam network bridging for FRAX is supported by our partners, Nomad, Multichain, and Celer cBridge.
With the joint efforts of both parties, GLMR/FRAX and FXS/FRAX pairs now have over $10M of liquidity on Zenlink. The liquidity is provided by the Frax Foundation as initial liquidity for bootstrapping on the Moonbeam network. To better drive the adoption of FRAX on the Moonbeam network, we plan to launch the FRAX liquidity incentive program, as described below.
About Frax Finance
Frax is the first fractional-algorithmic stablecoin protocol. Frax is open-source, permissionless, and entirely on-chain. The vision for the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
About Zenlink
Zenlink is an underlying cross-chain DEX protocol based on Polkadot and is committed to becoming the DEX composable hub of Polkadot. By accessing the ultimate, open, and universal cross-chain DEX protocol based on Substrate, Zenlink DEX Protocol enables all parachains to build DEX and achieve liquidity sharing in one click. Zenlink DEX Protocol includes Module, WASM, and EVM implementations, which are flexible and adaptable, allowing for customizable compositions and interoperability with different DeFi modules.
In addition, the Zenlink DEX Aggregator connects all DEX DApps on Polkadot and aggregates liquidity, providing a low slippage trading experience for users. Zenlink DEX Composable Hub enables developers to access the Zenlink DEX Module to build their own unique DEXs, forming a DEX composable hub for the Polkadot ecosystem. Currently, Zenlink has received 2 rounds of Web3 Foundation Grants and investments from well-known institutions such as Alameda Research, Hashkey, IOSG, OKEx Blockdream Ventures, and Hypersphere.
