Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment

Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment

Market Analysis
March 7, 2023 by secret
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[ad_1] The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us. The decentralized stablecoin space has only proved effective with ETH, USDC and