Frax Finance dives into DeFi liquidity with $250M USDe allocat | DeFi Updates

Frax Finance dives into DeFi liquidity with $250M USDe allocation

Decentralized finance (DeFi) lending protocol Frax Finance has recently passed a community governance proposal that greenlights a $250 million allocation of Ethena Labs’ USDe to a new liquidity pool. As part of Frax’s Singularity Roadmap, the proposal enables the creation of an automated market operation (AMO) that will allow the minting of new FRAX tokens backed by overcollateralized debt. The proposal was approved on April 5.

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