On August 16th, Movement announced that Frax Finance, a DeFi protocol, plans to deploy natively on the Movement blockchain today. As a key part of this initiative, Frax has committed to rewriting its entire Solidity codebase into the Move language. Frax will introduce at least four new assets on Movement: Frax stablecoin, sFrax (staked Frax), frxETH (a liquidity staking token pegged to ETH1:1), and FXS (staking and governance token for the Frax ecosystem). Frax will also deploy Fraxlend, FraxCDP and its staking contracts on Movement. Both parties will work together to provide $10 million in agreement liquidity and provide cross-chain to Movement incentives for existing Frax users. Frax plans to complete deployment on the first day of the Movement mainnet.