Today in DeFi - Collab.Land Token Launch, Frax to Fully Collateralize Its Stablecoin, Treasury Yields, and More...

Collab.Land Token Launch

🦾 Collab.Land 🤖 @Collab_Land_

The Collab🤝Land COLLAB sponsored token claim is tomorrow, February 23, 2023! 🟢 The claim begins at 6:00 PM MT 🟢 The claim will ONLY happen on wagmi.collab.land 🟢 The claim will be open until May 23, 2023 🟡 Always double verify links: linktr.ee/collab_land_ #COLABL

Collab.Land, a Discord/Telegram wallet connection bot protocol, will launch its token and enable claims on Feb 23 at 6 pm MT. Verified community members and/or Membership/Patron NFT holders are eligible for the token drop.

Frax to Fully Collateralize Its Stablecoin

Wu Blockchain @WuBlockchain

Frax Finance's community FIP-188 proposal voted through, and Frax will remove the protocol's algorithmic support for stablecoins and become a fully collateralized stablecoin. Read more

snapshot.orgSnapshot

Frax governance voted to increase the target collateral ratio of its stablecoin to 100% (currently at 92%). The protocol would prop up reserves by retaining protocol revenue and authorizing up to $3m per month in frxETH purchases.

The proposal pointed out that FRAX can be fully collateralized with non-FXS assets. It can create additional liquidity and revenue for the protocol by deploying protocol-owned liquidity via AMOs.

Uniswap Supports NFT Purchase Using ERC-20

Uniswap Labs 🦄 @Uniswap

1/ Buy NFTs with ANY single ERC-20 token—starting today! ✨ Don’t have enough $ETH? No problem. Use any ERC20 token in your wallet to complete your transaction without swapping to ETH first.

Users can now buy NFTs on the Uniswap marketplace using any ERC-20 besides ETH.

zkRouter Testnet Soon

Multichain (Previously Anyswap) @MultichainOrg

Wow 👀👀👀 What happened? #zkRouter testnet has launched! POC - the first cross-chain txn (Eth2 ->Fantom) based on #zkRouter also succeeded a few minutes before👉 testnet.ftmscan.com/tx/0xf78ac05ec… Huge progress achieved!🚀🚀 What's next? Stay tuned👀👀 https://t.co/ltkdXWy6Q8

Multichain initiated the first transaction using zkRouter and will launch the testnet soon. zkRouter is Multichain’s general cross-chain infrastructure that increases security and decreases gas costs for bridging.

Avalanche HyperSDK

Avalanche 🔺 @avalancheavax

Introducing HyperSDK, the first framework for developers to build high performance Virtual Machines on Avalanche, out-of-the-box. HyperSDK is designed to accelerate custom VM development, creating the foundation to build the fastest blockchains. So what is HyperSDK?

Avalanche introduces HyperSDK, a framework for building customizable virtual machines. It abstracts away runtime complexities and gives devs a fast environment, reducing custom VM development from many months to a few days.

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