What is Fluid FRAX ($FFRAX)?
$FFRAX is a wrapped token of $FRAX on Fluidity Protocol.
A Fluid Asset is a wrapped standard (ERC-20, SPL) token that represents an underlying principal token. A novel property of Fluid Assets is that they expose users to randomly paid rewards or yield when they are used (sent or received).
A Fluid Asset is different than a yield-bearing asset. A yield-bearing asset such as cUSDC or aUSDC would pay yield when you hold onto it, whereas a Fluid Asset pays yield when you use it. Rewards are paid out according to a drawing mechanism held on each transaction of their Fluid Assets. These rewards are generated by the cumulative yield generated by the underlying asset, which is deposited and lent on money markets.