Quick Take
Frax launches frxUSD & sfrxUSD.
Blockscout smart contracts features.
WalletConnect's first governance proposal.
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Frax Launches frxUSD Stablecoin
Frax Finance launched frxUSD and savings yield sfrxUSD stablecoins on mainnet. The frxUSD stablecoin is backed by tokenized U.S. Treasuries from asset managers BlackRock and Superstate. The legacy FRAX stablecoin will remain functional and can be upgraded to frxUSD at a 1:1 ratio at any time via the Frax front end. Users can stake frxUSD to receive sfrxUSD, a stablecoin designed to offer risk-adjusted savings yield in DeFi. sfrxUSD’s yield strategy integrates treasury yield, CDP lending yield, and carry trade yield. In the coming days, Frax will expand frxUSD to multiple chains, including Ink, Movement, and Sonic.
Blockscout Smart Contract Features
Blockscout released a revamped user interface along with new features for enhanced smart contract interactions. The update improves codebase navigation, allowing users to seamlessly switch between contract code, compiler details, ABI, and bytecode. The release also consolidates read and write functions into a single list. Additionally, Blockscout now supports custom ABI uploads for more structured interactions. Developers can also submit security audit reports for public verification and open contract code directly in Remix for editing. Users can query data or execute transactions by connecting their wallets to the explorer.
WalletConnect Governance Proposal
The WalletConnect Network introduced its first governance proposal seeking to replace the previously proposed dual-council structure with a single UX Council. Originally, WalletConnect suggested separate Technical and Partnerships Councils, but the new UX Council will serve as the primary governance body. The UX Council will oversee technical advancements, user experience, and community alignment. Holders of staked WCT (stWCT) tokens can now vote on the Snapshot proposal until February 14, 2025. If approved, a nomination process will follow for electing council members. WalletConnect has powered over 150 million wallet connections across 40,000 apps and 600 wallets.
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