Frax Finance: Tangent Genesis Deposit to Launch on May 18th, frxUSD to be Default Stablecoin

BlockBeats News, May 12th, Frax Finance announced that the pre-deposit activity for the Tangent project will commence in one week, with frxUSD set as the default stablecoin and support for USDC participation. The public pre-deposit activity will start on May 18th, where users can provide liquidity by offering USDC or frxUSD and earn rewards while locking their positions and receiving TAN token allocations.

It is reported that this mechanism is built on the frxUSD PegKeeper liquidity pool on Curve Finance, aiming to further strengthen the on-chain liquidity of frxUSD and its core position in the DeFi stablecoin ecosystem. The project team stated that the launch of Tangent will focus on stablecoin liquidity depth and reward mechanism design.