# Task to Web3

> Layer3.xyz Tasks

**Published by:** [Stephendang](https://paragraph.com/@sonasia2022/)
**Published on:** 2023-12-28
**URL:** https://paragraph.com/@sonasia2022/task-to-web3

## Content

FRAX is a crypto-collateralized and algorithmic stablecoin pegged to the US dollar. FRAX maintains dollar peg with smart contracts and a fractional reserve of crypto assets held in collateral. It uses a fractional reserve system and onchain algorithms to maintain stability, aiming for a more resilient DeFi solution. https://layer3.xyz/streaks/mint-on-paragraph

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