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![Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2023-03/96bfdd2c-100b-4b8f-8f81-2345aae36376.jpg)
The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of…