The neighborhood of decentralized finance stablecoin protocol Frax Finance has voted to utterly collateralize its native stablecoin Frax (FRAX), marking an discontinuance to the algorithmic backing of the protocol.
The FIP-188 governance proposal — which would switch the collateralization mannequin of FRAX — at the starting set up posted on Feb. 15 has now reached a quorum with 98% vote casting in favor, in accordance to a snapshot on Feb. 23 .
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