Wombat partners with Frax Finance to push FRAX adoption to the BNB Chain ecosystem!

With this new partnership, they’re aiming to boost the adoption and liquidity of FRAX stablecoins on the BNB Chain and provide more yield opportunities and options to users of Wombat Exchange as well.

FRAX will be list under the Innovation Pool where WOM emissions will be provide to support liquidity. They’re looking forward to seeing how FRAX will do in the Wombat ecosystem, especially when the bribery system is live!

Looking Forward

FRAX is now listed in our innovation pool, launched on the 22nd of December. Details for the pool’s mechanism(depeg protection, fees, etc.) can be found in this article.

WOM emissions will be provided to support the pool as a liquidity incentive.

When the voting gauge is live, you can potentially earn bribes by voting for the FRAX gauge.

A lot more exciting updates are coming up, so take note of the dates and stay posted with us to avoid missing out!

About FRAX

FRAX an open-source, permissionless, and entirely on-chain protocol. They carry the vision of providing highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.

FRAX the first and only stablecoin partly backed by collateral & partly by algorithm. The stablecoin (FRAX) named after the “fractional-algorithmic” stability mechanism. The collateral to algorithm-backing ratio depends on the market’s pricing of the FRAX stablecoin. If FRAX trades above $1, the protocol decreases the collateral ratio. On the other hand, If FRAX is trading under $1, the protocol increases the collateral ratio.

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About Wombat Exchange

Wombat Exchange a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.

Wombat’s vision to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:

Website | Twitter |

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The cooperation provides a new use case for TUSD holders and marks a milestone for TUSD’s effort in building up partnerships with DeFi projects and its plan for multi-chain deployment. As TUSD goes live on Wombat Exchange.

Why Wombat Exchange?

One point we are very proud to showcase is our rigorous choice of partnerships. With Binance Labs as its early investor, Wombat Exchange is the best stableswap native on BNB Chain. It outperforms other stablecoin swap protocols by enabling liquidity sharing among stablecoin LPs to improve capital efficiency and introducing Coverage Ratios to remove scalability barriers. On top of that, Wombat also enjoys other advantages, including minimal slippage, single token staking, and an intuitive UI. Wombat Exchange is boasting a TVL of $116 million, ranking top three among all DEXs on BNB Chain.

What does this mean for investors?

The recent FTX crash has slammed investors’ confidence in centralized exchanges (CEX). Such panic has resulted in mass withdrawals. For safety reasons, many crypto investors have opted to deposit assets in decentralized exchanges (DEX), which offer better transparency. Wombat Exchange is one of the top DEX protocols on the BNB Chain. The partnership with Wombat Exchange is a natural, rational choice that provides a more flexible and user-friendly DeFi experience for TUSD holders who prefer DEX trading.

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About TUSD

TrueUSD is the first digital asset attested live on-chain by an independent third-party institution and pegged at 1:1 to the U.S. dollar. So far, it has been listed on more than 100 trading platforms such as Binance, Huobi, and Poloniex, and has been deployed on 12 major public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. It is audited real-time by Armanino, one of the largest American accounting firms, to ensure the 1:1 ratio of USD reserves to circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website tusd.io at any time.

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About Wombat Exchange

Wombat Exchange is a multichain stableswap native on the BNB Chain. Focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.

Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:

Website | Twitter

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SOURCE: MEDIUM

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As a stablecoin frontrunner, TUSD is glad to embrace the promising future of the stablecoin industry. Financial security has always been users’ top concern, and that’s where TUSD’s core value lies. Down the road, TUSD will continue to set benchmarks in transparency, security, and robustness, offering more options and opportunities for users on BNB Chain and other public chains. As Wombat Exchange announced its Partnership with TUSD.

How can users obtain TUSD on the BNB Chain?

There are three major ways to do so:

Mint TUSD directly through TrustToken app

You can mint TUSD with bank wire transfers.

Buy TUSD on centralized exchanges

This method includes Binance, Kucoin and more!

Buy TUSD on decentralized exchanges

This method includes PancakeSwap, Biswap and more!

A complete list can be found on this page.

What to Look Forward To

Save the date! TUSD will launch on the 2nd of December. Watch out! It will be in our Innovation Pool, and WOM emissions will be provided to support the pool as liquidity incentive.

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About TUSD?

TrueUSD  is a stablecoin that can be minted and redeemed 1-for-1 for US Dollars.

It is fully collateralized, legally protected, and transparently verified by third-party attestations. TUSD is the first asset token built by the TrustToken team. It can be minted and redeemed through the TrustToken website and over 70 exchanges including Binance.

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About Wombat Exchange

Wombat Exchange is a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.

Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:

Website | Twitter

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SOURCE: MEDIUM

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The post Wombat Exchange Partnership with TUSD appeared first on Smart Liquidity Research.