Blindex
  • Welcome
  • ๐Ÿƒโ€โ™€๏ธQuick Intro
    • The Roadmap
    • Re-Defining DeFi
    • Stability
    • Why FRAX-Based?
    • Our Tokens
    • Tokenomics
    • Meet The Team
    • Fair Launch
    • DAO
    • Investment Strategies
    • Treasury
  • ๐ŸคฟDiving Deeper
    • Introduction
    • Price Stability
    • Minting and Redeeming
    • Blindex Tokens (BDX)
    • Buybacks & Recollateralization
    • Liquidity Programs & Staking
  • โ‰๏ธFAQ
    • General Questions
    • Mint/Redeem
    • Swap
    • Liquidity Providing
    • Staking
  • ๐Ÿ”Smart Contracts
    • Contracts Addresses
    • Audits
  • ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘ฆJoin Our Community
    • Discord
    • Telegram
    • Twitter
    • Medium
    • Github
Powered by GitBook
On this page

Was this helpful?

  1. Quick Intro

Why FRAX-Based?

The Blindex protocol is derived from FRAX and it's our intention to show our respect for the great work they've done by submitting a governance proposal (once the governance is sufficiently decentralized) to allocate some BDX tokens to the FRAX team. Here's a short summary of what makes it so unique and groundbreaking:

  • Fractional-Algorithmic โ€“ FRAX is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. This means it is the first stablecoin to have part of its supply floating/unbacked. The ratio of collateralized and algorithmic depends on the market's pricing of the stablecoin. If the stablecoin is trading at above $1, the protocol decreases the collateral ratio. If the stablecoin is trading at under $1, the protocol increases the collateral ratio.

  • Decentralized & Governance-minimized โ€“ Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.

  • Fully on-chain oracles โ€“ Frax uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

PreviousStabilityNextOur Tokens

Last updated 3 years ago

Was this helpful?

๐Ÿƒโ€โ™€๏ธ