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Frax Finance: Tangent Pre-Deposit Launches on May 18, frxUSD as Default Stablecoin
On May 12, Frax Finance announced that the pre-deposit activity for the Tangent project will begin one week later, designating frxUSD as the default stablecoin while also supporting USDC participation. The public pre-deposit activity will start on May 18, allowing users to participate by providing liquidity in USDC or frxUSD, earning rewards and TAN token allocations while locking their positions. This mechanism is built on the frxUSD PegKeeper liquidity pool on Curve Finance, aimed at further strengthening frxUSD’s core position in on-chain liquidity and the DeFi stablecoin ecosystem. The project team stated that the launch of Tangent will focus on the design of stablecoin liquidity depth and yield mechanisms.