The Frax Finance community has opened voting on the proposal to "Use BlackRock BUIDL as a reserve asset for Frax USD."

ChainCatcher news, according to official information, the Frax Finance community's vote on adopting the Bladex Dollar Institutional Digital Liquidity Fund Limited (BUIDL) as the reserve asset for the stablecoin Frax USD (frxUSD) is now live. The proposal will end on January 1, 2025, and currently has a support rate of 100%.

According to the voting summary, the benefits of passing the Frax Dollar proposal may include creating yield opportunities, enhancing liquidity, providing transfer options, and reducing counterparty risk due to Bladex's support.