This week Frax announced that they were expanding their reach to the Cosmos ecosystem with the deployment of FRAX and sFRAX to the network.
We are excited to partner with @fraxfinance to bring their innovative suite of decentralized stabelcoins to the @cosmos ecosystem.
— Noble (@noble_xyz) April 3, 2024
Noble is the UX layer for native asset issuance in the ever expanding modular ecosystem. ✨✨✨ https://t.co/rFvOt4hvfS
Frax is partnering with Noble, a generic asset issuance chain purpose-built for the Inter-Blockchain Communication (IBC) ecosystem, which also led the deployment of USDC.
Now Frax will be available on every single Cosmos enabled chain for use and trading.
Additionally, today it was announced that Picasso, in partnership with Osmosis DEX, would be providing massive co-incentives with Frax for DEX liquidity.
This proposal will match incentives for Frax assets on Osmosis with Picasso, allocating 52,845 OSMO over six weeks to match 97,740 FXS and 9,068,080 PICA emissions for three new pools enabled by Picasso's Ethereum IBC bridge. This collaboration will kickstart the integration of Cosmos with Frax. In total the LP incentives total $1m.
🎨 @Ethereum @IBCprotocol is live on https://t.co/AJSBStq1qm!
— Picasso 🎨 (@Picasso_Network) April 3, 2024
We're thrilled to announce the official mainnet launch, connecting Ethereum with @Cosmos and @Polkadot - and soon, @Solana. This milestone brings us closer to a universally interoperable and secure DeFi ecosystem.… pic.twitter.com/aS4hCwYHDh
The LPs that will receive these incentives will be sFRAX/OSMO, sfrxETH/OSMO, and FXS/OSMO.
While the pools have yet to be created on Osmosis, the new native issuance of Frax should be live in the next few days.
We also think there is some discussion brewing around Fraxtal and Cosmos as well, as it could be the first L2 to partner.
We're excited to see how this plays out and how Frax can grow on Cosmos in 2024.
