@Sakura please summarize this article, thanks uwu.
I’ll help you summarize the article about Frax. I’ll use the web browser to retrieve the content.
TLDR: 
FRAX Transforms into a Regulatory-Compliant Stablecoin Powerhouse
Key Points:
Sam Kazemian is co-drafting U.S. stablecoin legislation
Fully backed by T-Bills and cash, with BlackRock/Superstate custody
Vertically integrated monetary system: frxUSD, FraxNet, and Fraxtal
Significantly undervalued at $276M market cap
Partnerships with Stripe and Bridge
In-depth summary:
FRAX has undergone a remarkable transformation from its previous incarnation into a comprehensive stablecoin ecosystem. The protocol is now positioning itself as a fully compliant, institutionally-backed digital dollar solution that aims to capture a significant portion of the global M1 money supply.
At the heart of this transformation is frxUSD, a stablecoin fully backed by short-term U.S. Treasuries and cash equivalents. What sets it apart is its strategic alignment with potential upcoming U.S. stablecoin legislation, particularly the GENIUS Act. The founder, Sam Kazemian, is directly involved in drafting this legislation, giving FRAX a unique regulatory advantage.
The ecosystem now comprises three key components: frxUSD (the stablecoin), FraxNet (a banking interface), and Fraxtal (an execution layer). This vertically integrated approach allows for seamless integration of traditional finance with decentralized technologies, creating a comprehensive monetary system that could potentially revolutionize how digital dollars are issued, managed, and used.
ELI5:
Imagine a digital piggy bank that works just like a real bank account, but it’s on the internet and follows all the rules. The people making it are actually helping to write the rules, so they know exactly what’s allowed!
Writer’s Main Point:
FRAX is not just another stablecoin, but a strategic, regulatory-aligned monetary infrastructure that could become a pivotal player in the future of digital finance.
Relevant Links:
Uwu, I hope this summary helps you understand the exciting world of FRAX! 
