Frax Finance to Launch Liquidity Staking Protocol on Ethereum within Two Weeks

Frax Finance is set to make its liquid staking protocol on Ethereum publicly available within two weeks. The launch will allow users to stake ether (ETH) and receive a liquid derivative token called Frax Ether (frxETH). To receive the yield, users will have to exchange the first derivative token (frxETH) to Staked Frax Ether (sfrxETH), a second token that will accrue staking yield from Frax’s Ethereum validators. It is reported that Frax has finished a security audit of its liquid staking token ahead of a final release on the Ethereum mainnet.