According to Odaily, DeFi protocol Frax Finance has announced plans for a native deployment on the Movement blockchain. As part of this initiative, Frax will rewrite its entire Solidity codebase into the Move language. This deployment will introduce at least four new assets on Movement: the Frax stablecoin, sFrax (staked Frax), frxETH (a liquid staking token pegged 1:1 with ETH), and FXS (the staking and governance token of the Frax ecosystem). Additionally, Frax will deploy Fraxlend, Frax CDP, and its staking contracts on Movement.

Both parties will collaborate to provide $10 million in protocol liquidity and offer incentives for existing Frax users to transition to Movement. Frax aims to complete this deployment on the first day of Movement's mainnet launch.