New partnership with FRAX, bringing new stablecoin to the SAKE DeFi ecosystem

2 min readApr 1, 2021

SakeSwap is pleased to have Frax, the world’s first fractional-algorithmic stablecoin, as our partner.

Frax is bringing its U.S. Dollar-pegged stablecoin $FRAX and governance token $FXS to the SAKE DeFi ecosystem. FRAX is among the stablecoins on SakeSwap. FRAX has a rating of 86 from CertiK. FRAX is a fractional algorithmic stablecoin partially backed by collateral and partially stabilized algorithmically. Frax Share (FXS) is the non-stable, governance token of FRAX.

💧 More Liquidity and Further Cooperation with FRAX

Sake team focuses on expanding the AMM DEX and perpetual contract. SakeSwap launches SakePerp on BSC testnet which is the first perpetual contract protocol on BSC. SakeSwap can access more liquidity and explore more cooperation opportunities with FRAX on BSC.

👭 Partnerships Joining SAKE DeFi Ecosystem

More major partners will be announced soon. More partnerships brings more liquidity, and more liquidity attracts more users, and more users provide more financial payback to liquidity providers, creating a continuous positive feedback loop of the SAKE DeFi ecosystem and offering more value to SAKE holders.

The FXS-FRAX liquidity pool is available on SakeSwap Ethereum now. https://info.sakeswap.finance/pair/0xc12ab55f70b2ef0996dd208ae7a9d412317056ca

The FXS-FRAX farming pool will go live on 1 April, 10 pm (UTC+8). All users can provide liquidity for the FXS-FRAX pool on SakeSwap to earn SAKE rewards.

Farming Guide: https://sakeswap.gitbook.io/sakeswap-finance/farming-v2