ChainCatcher reported that the Frax Finance community has officially launched a vote on the adoption of BlackRock's US Dollar Institutional Digital Liquidity Fund Limited (BUIDL) as a reserve asset for the stablecoin Frax USD (frxUSD). The proposal will end on January 1, 2025, and currently has a 100% support rate.

According to the voting summary, the benefits of passing the Frax USD proposal may include creating revenue opportunities, increasing liquidity, providing transfer options, and reducing counterparty risks due to BlackRock's support.