![Frax Finance to Debut Its Ethereum Layer 2 in February: New York Stock Exchange with banner flagging ProShares Bitcoin Strategy ETF on the day it started trading.](https://btcusa.com/wp-content/uploads/2024/01/Frax-Finance-to-Debut-Its-Ethereum-Layer-2-in-February-678x381.jpg)
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The new offering will add to Frax’s existing product suite, which comprises FRAX, a fully collateralized algorithmic stablecoin, a lending platform, an automated market maker, an inflation-linked stablecoin, FPI, and the liquid staking token frxETH. As of the time of writing, FRAX has a market cap of $647 million, the seventh-largest stablecoin in the world, per CoinGecko.
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