FRAX Stablecoin Upgrades to Chainlink Price Feeds to Secure Minting and Redeeming Functions

  • High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to price data aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. This generates accurate global market prices that are inherently resistant to inaccuracies or manipulation on any single or small set of exchanges.
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record for reliability, even during high gas prices and infrastructure outages (e.g., Infura).
  • Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
  • Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

About Chainlink

About Frax Finance

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Frax Finance Community

Frax Finance Community

Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.