Frax Finance Weekly Report #03 | June 2021

A round-up of Frax Finance updates in a few minutes.

Project Updates:

1) [Collaboration]: Everipedia Collaborated with Frax to incentivize its stablecoin pair, users who add liquidity to FRAX+IQ pool will receive FXS & IQ rewards.

Guide: https://fraxfinancecommunity.medium.com/guide-how-to-add-liquidity-to-frax-iq-pool-on-uniswap-and-receive-iq-fxs-rewards-96ef67f8aff2

2) [Development]: Frax Finance aims to build its native stablecoin minting implementation and AMO on Polygon.

3) [Collaboration]: Frax SUSHI pools went live for FRAX-USDC and FRAX-FXS on Polygon (Matic).

Guide: https://fraxfinancecommunity.medium.com/how-to-bridge-your-frax-fxs-to-polygon-matic-network-and-add-liquidity-to-sushi-d572dfbe8e3d

4) [Voting]: Curve Finance vote to update our Curve AMO strategy was done. Users who have CRV, native token of Curve Finance were able to vote.

5) [Partnership]: Frax governance vote to partner with OlympusDAO kicked off. The partnership will bring co-incentivize FRAX-OHM Uniswap pool with OlympusDAO and create a FRAX=OHM bond with FRAX.

6) [Voting]: Vote to whitelist the Frax Curve AMO contract 3 in Curve’s smart wallet whitelist contract was done. This will allow Frax’s Curve AMO to participate in Curve governance, lock CRV and provide a boost on the Frax Curve AMO contract. The Frax Curve AMO will always lock any earned CRV for 4 years and continuously re-lock for the maximum amount of time. The contract will not sell any CRV earned and will continuously lock CRV for the maximum amount of time.

7) [Partnership]: Cryption Network partners with Frax Finance. The partnership will allow Cryption Network to create a dual farm that will farm FXS and CNT simultaneously. Add the “Mint FRAX” function in their Cryption app, which will allow their users to mint FRAX without having to visit a different platform. Cryption Network will also create a pool to stake FXS token and reward the staking with CNT token. This will incentivize users to lock FXS to earn CNT tokens. FRAX, in return, will add liquidity to PolyDEX and promote crypto adoption.

8) [Partnership]: Frax Finance officially partnered with StableGaj swap. StableGaj is a stablecoin swap on Polygon network.

9) [Marketing]: Frax Finance Co-founder, Sam Kazemian was hosted by Pangolin for an AMA. Sam shared more insights on FRAX Finance and the vision For building on the Avalanche network.
Full AMA link: https://youtu.be/f3sFjFJAfOM

10) [Collaboration]: FRAX-OHM Bonds went live! Bonds give the opportunity to buy OHM from the protocol at a discount. All bonds have a 5-day vesting term.

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.

Website | Docs | Telegram | Twitter | Discord | Governance | Github

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Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.

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Frax Finance Community

Frax Finance Community

Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.

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