Frax Finance Monthly Report #23 | January 2023.
A round-up of Frax Finance updates in a few minutes.
1)[Partnership]: Clever partnered with Frax Finance to bring CLever USD to Frax Finance. Users can swap their clevUSD for FRAX, also they can select a farming strategy and deposit their stablecoins as collateral (or zap in). They can choose between FRAXUSDC, LUSDFRAXBP, and TUSDFRAXBP.
2)[Bribing]: veFXS stakers can earn $IQ bribes by voting to incentivize FRAX/IQ liquidity on Fraxswap.
3)[Research Report]: A community member wrote a research report on Frax Finance which covers the Protocol, mechanisms, Peg stability & AMOs, Tokenomics, Adoption metrics & much more. Read the full report here.
4)[Flywheel]: Kiet and Sam from Flywheel discuss some FXS/FRAX strategies in their latest video. They discussed about 9 opportunities and yields for $FXS & $FRAX strategies. Listen to the full discussion here.
5)[Frax Finance Anniversary]: On December 20th, Frax Protocol turns 2 years old. The $FXS yearly halvening took place and the total emissions $FXS was cut down by half, thereby bringing the $FXS daily emission to 6,250 $FXS.
6)[FraxBasePool]: XAI-FRAXBP LP Tokens was added on https://frax.convexfinance.com. Users can deposit their $XAI on Curve Finance to get XAI-FRAXBP LP Tokens then go to frax.convexfinance.com and look for XAI-FRAXPBP and create a personal vault and choose lock duration and stake their r LP tokens. They can lock their XAI-FRAXBP LP Tokens for up to 52 weeks to maximize their return.
7)[frxETH-ETH Auto-compounding Strategy]: afrxETH compounding strategy was launched on Concentrator. 11 different harvest vaults concentrating was launched into afrxETH by Concentrator.
8)[FRAX 2022 Year in Review]: DeFi Dave and Samuel McCulloch reviewed the Frax Finance 2022 progress. From the DeFi Trinity to FRAXBP, FPI and everything in between. Listen to the full review here.
9)[Partnership]: Wombat partnered with Frax Finance to push FRAX adoption to the BNB Chain ecosystem. Wombat is aiming to boost the adoption and liquidity of FRAX stablecoins on the BNB Chain and provide more yield opportunities and options to users of Wombat Exchange as well.
10)[Pool]: FRAX-ETH liquidity pool was added on Swapfish. Users can provide liquidity on Swapfish by depositing their FRAX-ETH and earn rewards.
11)[Audit]: Frax Finance team has started the Trail of Bits audit in January which focuses on veFPIS, on-chain / multisig hybrid governance and Fraxlend V2.
12)[Collaboration]: Frax Finance is collaborating with Pitch to enable transferrable locked farm positions. It will allow the users to sell part or all of their locked farm position. This will not hurt or put the protocol at risk as the LPs position still stays locked, it only changes ownership.
13)[FraxFerry]: Frax Finance team is working on Fraxferry to support frxETH and sFrxEth on multiple chains.
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.
Frax Price Index (FPI): is the second stablecoin of the Frax Finance ecosystem. FPI is the first stablecoin pegged to a basket of real-world consumer items as defined by the US CPI-U average.
Frax Price Index Share (FPIS): is the governance token of FPI, which is also entitled to seigniorage from the protocol.
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