FRAX Launches on Terra with Retrograde Partnership

Retrograde brings the first FRAX tokens to the Terra ecosystem in the search for long-term and sustainable partnerships. This new partnership with the stablecoin protocol was closed to bring deep liquidity to the Blockchain. Thanks to this new deal, the Retrograde governance protocol also receives a formal investment from the DAO platform.

The importance of forming partnerships and integrations can never be understated in the competitive environment of the crypto industry. Understanding the importance of this, Retrograde has closed some of the best deals ever on Terra from Kinetic Capital, Delphi Capital, Terraform Labs, and many more. Continuing this trend, they landed a new partnership with the Ethereum-based stablecoin protocol, FRAX.

FRAX is a fractional algorithmic stablecoin protocol that helped bring Terra’s UST to the Ethereum Blockchain. Retrograde officially becomes the first project to introduce the first FRAX tokens to Terra. The adoption is taken as an indicator of the growth of Astroport and Retrograde in bringing deep liquidity for DAOs and other protocols on the Terra Blockchain.

According to Sam Kazemian from Retrograde, the team and the community are excited to see the results of bridging the first FRAX tokens from Ethereum. This new journey of the stablecoin protocol on Terra is expected to help positively mature the TeFi ecosystem. Not only that, but Kazemian also believes that this will push Astroport to become a competing environment for deep liquidity.

As per the stats, FRAX is not just an early accumulator of CVX but also the largest holder of the convex native tokens among DAOs. On top of that, the DAO is responsible for the largest bribes on Ethereum to boost its Annual Percentage Yield and liquidity to a new level. FRAX’s new venture on Terra practically involves the same bribing and investment strategies from Ethereum.

Retrograde was built on the fast-growing Astroport DEX as a governance protocol. With this addition, Astroport intends to become the Curve of Terra, a rapidly growing DeFi powerhouse. The new protocol also helps users supercharge their utility in the tokens to customize their investment needs.

Retrograde governance protocol has extended an invitation for the private round of fundraisers to FRAX as a protocol DAO. FRAX is expected to invest formally in the governance protocol alongside other strategic partners like Redacted Cartel. The investment will give access to many features on Astroport like governance rights and protocol yield in the upcoming “Astro Wars.”

As the FRAX team and community expects to balance with the Terra Community, the incentives can be allocated among the communities with ease by using Retrograde. Moreover, it will allow the team to closely analyze the adoption of “the highly scalable, decentralized, algorithmic form of money” in the ecosystem.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button