Frax Finance Monthly Report #42 | August 2024.
A round-up of Frax Finance updates in a few minutes.
Project Updates:
1)[Fraxlend]: Chainlink Price Feeds was integrated to secure the Ethena Labs’ USDe/FRAX and sUSDe/FRAX pairs on Fraxlend.
2)[Vault]: The Re7FRAX vault was integrated on Frax Finance gauge. Users will be able to earn $MORPHO and $FXS tokens as rewards by depositing in the Re7FRAX vault on MorphoLabs, then staking it in FRAX’s gauge.
3)[Liquidity Pool]: Two new boosted pools AVAX/FRAX & FXS/FRAX were launched on the Avalanche network. Each of the pools will receive a daily boost of 12 $AVAX and 75 $FXS and users will be able to earn on top of Avalanche DEX, Trader Joe.
4)[Restaking Token]: Renzo Ethereum (ezETH), a restaking token of Renzo protocol, was deployed on Fraxtal. Users can bridge to ezETH using Renzo Hyperplane bridge.
5)[Fraxtal]: Fraxtal, a native blockchain of Frax Finance which was launched a few months ago achieved a total value locked of over $100,000,000.
6)[Partnership]: Frax Finance partnered with Atoma to bring the power of AI technologies to DeFi. The AI integrations can take place in an abundance of ways through a variety of agents and models such as; automated management of protocol funds, risk analysis and DAO proposal suggestions.
7)[Fraxtal]: Zeroway, an interchain platform on hyperlane was deployed on Fraxtal. Users can Mint & bridge their hNFTs and hFTs on Zeroway.
8)[Fraxtal]: Glyph Finance was integrated into the Flox Leaderboard on Fraxtal. Users will be able to view how much FXTL they earn per hour on Glyph.
9)[Superhack]: Frax Finance joined the Superhack as Fraxdal. Developers will be able to build on Fraxtal with its blockspace incentives and Fractal scaling roadmap and get rewarded. Apply here to build at Superhack.
10)[Frax Bonds]: Frax Bonds (FXBs) was integrated on Frax Facts. Users will be able to track Frax Bond stats on the Frax Fact.
11)[Liquidity Pool]: Frax Finance and Sei Network teamed up with Jellyverse to launch stablepools of USDC / FRAX / USDT and wETH / sfrxETH / frxETH. Users will be able to add liquidity in the Jellyverse stable pools and earn $JLY, $SEI and $FXS incentives.
12)[Fraxtal Hackathon]: The Fraxtal Hackathon winners were announced and every successful submission earned FXTL points.
About Frax Finance
FRAX: is a dollar-pegged stablecoin that uses AMO smart contracts and permissionless, non-custodial subprotocols as stability mechanisms.
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.
Frax Ether (frxETH): is a stablecoin loosely pegged to ETH, leveraging Frax’s winning playbook on stablecoins and onboarding ETH into the Frax ecosystem.
Staked Frax Ether (sfrxETH): is the version of frxETH which accrues staking yield, All profit generated from Frax Ether validators is distributed to sfrxETH holders. By exchanging frxETH for sfrxETH, one becomes eligible for staking yield, which is redeemed upon converting sfrxETH back to frxETH.
FRAX bonds (FXB): they are trustless tokens that resemble a zero-coupon bond that converts to the FRAX stablecoin on maturity.
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