The authors have not purchased or sold any token for which the authors had material non-public information while researching or drafting this report. These statements are made consistent with Delphi’s commitment to transparency and should not be misconstrued as a recommendation to purchase or sell any token, or to use any protocol. The content of this report reflects the opinions of its authors and is presented for informational purposes only. This is not and should not be construed to be investment advice.
Our affiliate Delphi Ventures LLC may have investments in assets or protocols identified in this report. Please see Ventures’ website for investment disclosures. These disclosures are solely the responsibility of Delphi Ventures.
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Introduction
Frax Finance is a household name for seasoned DeFi users. In our report on the protocol last year, we highlighted its long-term vision to build out the “holy trinity of DeFi.” This includes three important components: a stablecoin system, a lending market, and an exchange.
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