According to the official announcement from the Frax (FRAX) team, the Frax (FRAX) token will be migrated to a new token, Frax USD (FRXUSD), at a 1:1 ratio. Gate.io will fully support this token swap and will provide a seamless swap services for users. All FRAX tokens held on Gate.io will be automatically swapped to FRXUSD, Users are not required to take any action during this process.

Gate.io will proceed with the following steps:

1. At 7:00 on May 6, 2025 UTC, Gate.io will suspend all Frax (FRAX) deposit, withdrawal, and trading services, including the FRAX/USDT spot trading pair and quantitative grid trading services.
2. If you are running any quantitative trading strategies involving FRAX, please adjust them in advance. Any active strategies will be forcibly terminated before 7:00 on May 6, 2025 UTC.
3. The new Frax USD (FRXUSD) Token ID: 0xcacd6fd266af91b8aed52accc382b4e165586e29 (ETH)

Please note that once the swap is complete, Gate.io will no longer support the old FRAX token. The listing time of the new Frax USD (FRXUSD) token will be announced separately after the completion of our listing review process.

For more details on this token migration, please refer to the official announcement:
https://x.com/fraxfinance/status/1917204290906820682

We understand this change may cause some inconvenience and sincerely apologize for any disruption caused. We are committed to ensuring a smooth swap process and will provide timely updates as needed.
Thank you for your support and trust in Gate.io . If you have any questions or need assistance, please feel free to contact our customer service team.

Gate.io Team
April 30, 2025

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