GalaxyCash stablecoin

gFrax is a stablecoin issued by GalaxyCash, pegged 1:1 at all times with Frax and entirely backed by Frax as collateral.The primary aim is to harness the treasury interest from Frax V3, thus capturing value for GalaxyCash users while enhancing the ecosystem's long-term sustainability.

Our inspiration comes from Frax's AMO. Users can always mint 1 gFrax with 1 Frax, and can also withdraw at any time, converting 1 gFrax back into Frax. The Frax used by users to mint gFrax will automatically be staked as sFrax, thereby capturing the interest earned from U.S. T-bills by sFrax.

Staked FRAX (sFRAX) is an ERC4626 staking vault that distributes part of the Frax Protocol yield weekly to stakers denominated in FRAX stablecoins. The sFRAX token represents pro rata deposits within the vault and is always withdrawable for FRAX stablecoins at the pro rata rate at all times. sFRAX APY attempts to roughly track the interest on reserve balances (IORB) rate of the United States Federal Reserve using the IORB oracle. This benchmark rate is generally accepted as the “risk free rate” of the US Dollar. The FRAX staking vault attempts, but does not guarantee in any way, to target this rate.If you want to learn more about sFrax, please refer to:

In the Galaxycash ecosystem, the gFrax Pool plays a pivotal role in managing user earnings, with 85% allocated for automated trading, 10% retained and 5% earmarked for future initiatives.

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