Additionally, the fractional-algorithmic design of the protocol allows for unmatched borrowing rates compared to other stablecoins. Because the Frax Protocol can mint FRAX stablecoins at will until the market responds with pricing FRAX at $.99 and recollateralizing the protocol, this means that money creation costs are minimal compared to other protocols. This creates unmatched, best-in-class rates for lending if the protocol decides to outcompete all other stablecoin rates. Thus, the AMO strategy can optimize for conditions for when to lower the rates (and also bring them under other stablecoin rates) and also increase rates in opposing conditions. Ironically, the lending rate on their own token is something other stablecoin projects have difficulty controlling. Frax has total control over this property through this AMO.