The Six Years of Rise and Fall of the 'Last Emperor' @ fraxfinance of Algorithmic Stablecoins, Past and Present Lives one In May 2019, Frax was launched on Ethereum, pioneering the "fractional algorithm stablecoin": FRAX is partially collateralized by USDC and partially supported by FXS, with collateral rates adjusted according to market dynamics. “ At this time, blockchain is developing rapidly, and the growth rate of stablecoins is not enough. Algorithmic stablecoins have emerged, known as the night pearl on the defi crown ” In the same year, the seed round was completed, and Ascension Assets and A195 Capital entered the market; Dragonfly and Electric Capital followed up in 2020; In 2021, companies such as http://(Crypto. com) participated in the strategic round of investment. two Ecological Expansion from 2021 to 2023: V2 introduces AMO (Algorithm Market Operation) and puts collateral into DeFi farms for interest generation; Simultaneously launch Fraxswap (TWAMM Bulk Split DEX), Fraxlend (Lending Protocol), and Frax Ether (frxETH/sfrxETH Liquid Pledge). “ Not only did we vigorously promote algorithmic stablecoins, but we also began to misappropriate physical assets as collateral. It was only because DeFi developed too quickly that year that we gave up risk control and started running as hard as we could ” three 2023-2024 Infrastructure Era: Launch of EVM compatible Fraxtal L1 and 24-hour observation period cross chain bridge FraxFerry; Received $1.2 million funding from the @ Arbitrum Foundation. “ With the blessing of Arbitrum, even withered trees can enjoy spring, and streams can flow westward ” four 2024-2025 Institutional Transformation: V3 Completely Abandons Algorithm Components!! , 100% over collateralized, and converted reserves into US treasury bond bonds and RWAs; Release frxUSD (supported by BlackRock BUIDL+Superstate USTB), FraxNet (KYC institutional account)! KRWQ! (102% reserve Korean won stablecoin, Base network). Six years with zero major loopholes!!!!! From experimental algorithms to institutional level DeFi infrastructure, Frax achieves a four pronged approach of innovation expansion infrastructure compliance. Isn't it good for a celebrity team during the DeFi Summer period to restart a project by borrowing their resume? Embark on a new compliance journey with old investors In the most risky and stable era, frax has never experienced thunderstorms. Now it has become a fully compliant RWA project, which is even more worth looking forward to!!