The $fxs proposal will use buldl as a new partially collateralized asset for the frax usd stablecoin, and it will be similar to the back-and-forth exchange between the two stablecoins, much like ena, and similar to the usual paths of real assets.

If the proposal in cooperation with BlackRock passes, it should be able to benchmark against ena.

However, for a proposal to generally pass, a leading algorithmic stablecoin with diverse asset collateral should start at least at a billion, considering the prolonged washout period $FXS .