CoinVoice has recently learned that according to the latest official news, the Frax Finance community has launched a vote on adopting BlackRock's US Dollar Institutional Digital Liquidity Fund LLC (BUIDL) as the reserve asset for the stablecoin Frax USD (frxUSD). 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 BlackRock's support. [Original link]