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Inflation benchmark Frax Price Index to launch on Partisia blockchain
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On Thursday, Frax Finance, a developer of algorithmic stablecoins, announced it would launch the Frax Price Index, or FPI, on the Partisia blockchain. The benchmark would have its stablecoin pegged to it and serve as a competitor to the standard Consumer Price Index, or CPI. Although the latter is a near-universally adopted inflation gauge, skeptics have claimed that its methodology does not account for items such as housing prices, college tuition, healthcare, etc. All of which have risen significantly in the past decade in the United States.
Brian Gallagher, co-Founder at Partisia Blockchain, elaborated on the development:
In a previous interview with Cointelegraph, Sam Kazemian, co-founder of Frax, explained that the FPI stablecoin will
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