According to Foresight News, Frax Finance has launched its treasury bond-backed vault, sFRAX, which currently has a total supply of 4,655,361 tokens and an annual percentage yield (APY) of approximately 10%. Previously, Foresight News reported that Frax Finance would introduce sFRAX, allowing users to deposit funds and earn a 10% yield, which would then contract to the current Interest on Reserves and Balances (IORB) rate set by the Federal Reserve, around 5.4%.