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When a fxb matures does it just turn into frax

or is there a redemption process to get the frax?

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Nothing is automatic like that...you'll have to redeem

You need to redeem. The FRAX is in the FXB contract so totally permissionless.

FXB token will be an ERC20, which can be converted to 1 FRAX on maturity. The tokens are sold at discounts onchain through the trustless auction/redemption contract.

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