Stablecoin Issuer Frax Finance Unveils Ether Staking Service With a Dual Token Model

Called Frax Ether, the liquid staking system, went live on Oct. 13 in a soft community launch with an official announcement expected soon. The system has three components – frax ether (frxETH), staked frax Ether (sfrxETH), and the Frax ETH Minter. Staking refers to locking up coins in a crypto wallet in return for rewards. Liquid staking is the process of locking up funds to earn rewards while still having access to the funds locked via their liquid derivative coins.