Frax Finance releases official documentation for FRAX v3. FRAX v3 is a dollar-pegged stablecoin that uses AMO(Algorithmic Market Operations Controller) smart contracts and permissionless, non-custodial subprotocols as stability mechanisms.
The two internal subprotocols used as stability mechanisms are Fraxlend, a decentralized lending market and Fraxswap, an automated market maker (AMM) with special features. The external subprotocol used as a stability mechanism is Curve.
Starting in v3, the Frax Protocol attempts to keep all FRAX stablecoins at a minimum of 100% collateralization ratio through AMO smart contracts and certain real world assets held by partner entities approved by the Frax Governance module.
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