Stablecoin Issuer Frax Finance Unveils Ether Staking Service With a Dual Token Model

Called Frax Ether, the liquid staking method, went reside on Oct. 13 in a soft neighborhood launch with an official announcement anticipated quickly. The method has 3 elements – frax ether (frxETH), staked frax Ether (sfrxETH), and the Frax ETH Minter. Staking refers to locking up coins in a crypto wallet in return for rewards. Liquid staking is the approach of locking up funds to earn rewards even though nevertheless getting access to the funds locked by way of their liquid derivative coins.