Frax Finance Monthly Report #18 | August 2022.
A round-up of Frax Finance updates in a few minutes.
Project Updates:
1)[Partnership]: Gamma partnered with Frax Finance and Convex Finance to manage the FPI-FRAX Uniswap v3 pool on Optimism. Liquidity providers will be able to stake their LP positions on Convex Finance to earn boosted FXS rewards.
2)[Update]: The team discovered a weight-related issue in the FRAX/IQ and FRAX/pitchFXS farms on Fraxswap and a fix was carried out. The fixed versions of the Fraxswap FRAX/IQ and FRAX/pitchFXS gauge farms were deployed and they are marked as V3. Liquidity providers were advised to migrate their LP to the new farms and revote for the V3 versions only. The old pool rewards were stopped and the new pool rewards were started.
3)[Research Report]: A research report on TWAMM was written by a community member. The report covers how TWAMM is a revolutionary concept and Fraxswap is the first AMM designed from scratch with TWAMMs. Read details here.
4)[Collateral]: Sturdy, a protocol for interest-free borrowing and high yield lending added FRAXBP LP tokens as collateral. Users can use their FRAXBP LP tokens as collateral for interest-free borrowing on Sturdy. They can deposit FRAXBP and earn up to 29% APY on their stablecoins which is paid out in CRV with leverage.
5)[Flywheel]: Flywheel released a research piece which focused on FRAX’s unique floating collateralization ratio (CR). Read the article here.
6)[Vault]: Frax vault was added on Optimism by Beefy Finance. Users can get their FXS + FRAX LP on Frax Vault with some juicy APY.
7)[Research Report]: Tail Maeda released a detailed research report on FRAX & FXS on his YouTube channel. Listen to the report here.
8)[Fraximalist Meet]: Frax supporters normally known as Fraximalist met at EthCC, 24 Rue Saint-Victor, 75005, Paris, France. Frax customized Sweatpants were given to some Fraximalists who answered Frax trivia questions correctly. You can watch some of the Fraximalists here.
9)[Fraxlend]: Drake Evans joined the episode of Flywheel to break down everything you need to know about the upcoming launch of Fraxlend and why he thinks Fraxlend is so important for Frax Finance. Watch the podcast here.
10)[Cointelegraph]: Sam Kazemian, co-founder Frax Finance had an interview with the cointelegraph where he shared the need for stablecoin projects to collaborate, and not competing. Stablecoin projects need to take a more collaborative approach to grow each other’s liquidity and the ecosystem as a whole, says Sam Kazemian. Read here for more details.
11)[Analytic Platform]: Treehouse, a comprehensive DeFi portfolio analytics platform added Frax Finance. Users can track their assets on Harvest Treehouse.
12)[FraxBasePool Vault]: Concentrator, a yield enhancer that boosts yields on Convex vaults integrated FraxBasePool vaults. Farmers can have their yields enhanced while earning Concentrator tokens during the initial farm offering.
About Frax Finance
Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.
FRAX: is the stablecoin targeting a tight band around $1/coin.
Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
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