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YFI Founder Andre Cronje To Launch A Stablecoin Protocol Fixed Forex

Mary Liu

Summary: YFI founder Andre Cronje (AC) announced on Friday that he will launch Fixed Forex, a new decentralized stablecoin protocol, which allows users to mint and trade stablecoins anchored with fiat ones, including U.S. dollar (USD), euro (EUR), South African rand (ZAR), Japanese yen (JPY), Renminbi (CNY) and so on.  Fixed Forex is developed to be ...

YFI founder Andre Cronje (AC) announced on Friday that he will launch Fixed Forex, a new decentralized stablecoin protocol, which allows users to mint and trade stablecoins anchored with fiat ones, including U.S. dollar (USD), euro (EUR), South African rand (ZAR), Japanese yen (JPY), Renminbi (CNY) and so on. 

Fixed Forex is developed to be a fixed, zero-fee, zero governance, and decentralized stablecoin framework. LTV (Loan-to-value ratios) is derived from Compound, Aave v1, Aave v2, and Iron Bank. The minting limit comes from the available on-chain liquidity. The higher the on-chain liquidity, the higher the minting limit. 

At present, the protocol is still in the experimental stage and the audit has not yet been completed.

By Mary Liu

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