Today in DeFi - Collab.Land Token Launch, Frax to Fully Collateralize Its Stablecoin, Treasury Yields, and More...

1 year ago 376

Collab.Land Token Launch

Collab.Land, a Discord/Telegram wallet connection bot protocol, will launch its token and enable claims on Feb 23 at 6 pm MT. Verified community members and/or Membership/Patron NFT holders are eligible for the token drop.

Frax to Fully Collateralize Its Stablecoin

Frax governance voted to increase the target collateral ratio of its stablecoin to 100% (currently at 92%). The protocol would prop up reserves by retaining protocol revenue and authorizing up to $3m per month in frxETH purchases.

The proposal pointed out that FRAX can be fully collateralized with non-FXS assets. It can create additional liquidity and revenue for the protocol by deploying protocol-owned liquidity via AMOs.

Uniswap Supports NFT Purchase Using ERC-20

Users can now buy NFTs on the Uniswap marketplace using any ERC-20 besides ETH.

zkRouter Testnet Soon

Multichain initiated the first transaction using zkRouter and will launch the testnet soon. zkRouter is Multichain’s general cross-chain infrastructure that increases security and decreases gas costs for bridging.

Avalanche HyperSDK

Avalanche introduces HyperSDK, a framework for building customizable virtual machines. It abstracts away runtime complexities and gives devs a fast environment, reducing custom VM development from many months to a few days.

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