Frax Finance Monthly Report #20 | October 2022.
A round-up of Frax Finance updates in a few minutes.
1)[Pool]: FXS rewards went live on the $FRAX — $OHM pool on Fraxswap. Users can add liquidity on $FRAX — $OHM pool and earn $FXS as reward.
2)[Liquid Lockers]: Frax Finance strategies went live in the Liquid Lockers on Stake DAO.
3)[Auto-compounding]: Concentrator launched aFXS compounding vaults for the FRAX, CVXFXS, FRAXUSDC, SUSDFRAXBP, TUSD, BUSDFRAXBP, ALUSDFRAXBP, SILOFRAX, TUSDFRAXBP, MAI, DOLA, PUSD, agEUR, ALCX, cvxFXS, cvxCRV, CVX Convex pools.
4)[Flywheel]: Sam kazemian & Ameen join the Flywheel to discuss their stablecoins $FRAX and $RAI and how they both approach governance and decentralization. Listen to the full discussion here.
5)[DeFi Trinity]: Messari released an article on how Frax Finance became the first DeFi protocol to offer stablecoin, liquidity, and lending services under one umbrella on Ethereum network. Read the full article here.
6)[Lending]: $FXS was listed in the Primary Lending Platform on Fringe Finance. $FXS holders will be able to utilize $FXS’s LVR of 71% and a debt limit of $429,000 to borrow $USDC against their tokens on Fringe Finance.
7)[Gas cost]: Gas increase over time in Fraxswap for claiming on FRAX-IQ v3, FRAX-SYN, and FRAX-pitchFXS pools which was caused due to the TWAMMs being permanently paused was found. The FRAX-IQ v3, FRAX-SYN, and FRAX-pitchFXS pools were unlocked and users were advised to withdraw their funds, also the team provided refunds to those who were affected by the high gas cost. Read the announcement here.
8)[Zapper]: The new FraxLend product was supported by Zapper. Users can now deposit collateral to borrow FRAX, or earn yield by lending FRAX (Ethereum) on Zapper.
9)[Twitter Space]: DeFi Dave & Drake Evans was hosted by AladdinDAO on Twitter Space to discuss about and the algostables world. Listen to the full discussion here.
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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