Frax Finance Weekly Report #12 | February 2022.

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

Project Updates:

1)[CoinTelegraph]: FRAX Share $FXS made it to VORTECS top performer! Markets Pro subscribers were alerted of a possible bullish event. Roughly 24 hours after the peak score, the Frax Share token’s price moved from $23 to $32, an increase of 39%.

2)[Partnership]: Crosschain partnership between Frax and QiDao. The partnership will allow “Add $FXS as collateral for $MAI, Add $MAI as collateral for $FRAX on Polygon and Start $FRAX — $MAI LP on Uniswap V3”

3)[Farming]: ‘noJOE’ Farms went live. Users can farm $gOHM / $FRAX and $FRAX/ $AVAX and earn $gOHM and $FXS respectively.

4)[Chainlink]: Chainlink shared about Frax Price Index (FPI), an algo-stablecoin designed to be inflation resistant & a new unit of account. FPI which will be pegged to a decentralized consumer price index will be Powered by Chainlink. Learn how you can help further decentralize the CPI data feed here

5)[Farming]: Yield Yak added a FRAX farm for auto-compounding. $FRAX / $AVAX and $FRAX / $gOHM auto-compounds and earn $FXS and $gOHM respectively.

6)[Pool]: TracerDAO launched a twitter poll for the community to choose which asset they wish to go Long and Short on with their $FRAX. TracerDAO will be adding a $FRAX cleared market to their Perpetual Pools.

7)[Partnership]: Planet Finance partnered with Frax Finance to offer the best lending/borrowing market for $FRAX on the planet!

8)[Proposal]: Governance proposal DIP020 for new assets onboarding which includes FRAX passed with 100% support. Voting results here

9)[Farming]: veDAO launched a token $WeVE, that users can farm by staking assets in their farms or providing liquidity on the WeVE-MIM pair. FRAX is among the supported assets.

10)[Progress]: veDAO on Fantom accumulated almost 125M FRAX within 48 hours.

11)[AMA]: A joint AMA between Frax Finance and TracerDAO took place on Twitter Space. Sam Kazemian from Frax Finance joined the AMA with Patrick McNab, Ray Mogg and Billy Welch to discuss the upcoming FRAX cleared market and beyond.

12)[Farming]: Iron Bank token was launched on Fantom Opera on January 22. Users can stake their assets on the Iron Bank market and earn IB token rewards. FRAX (Fantom network) is one of the supported assets.

13)[Partnership]: Frax Finance and Zigzag Exchange partnership was progressed to the next stage. Zigzag Exchange received 8M of the 20M from the governance proposal. They used the liquidity to set up FRAX-USDT and FRAX-USDC pairs on Zigzag with 400k depth within 0.06%. An extremely tight market!

14)[Gauge Controller]: Our team deployed a new gauge controller contract which could be located here 0x3669C421b77340B2979d1A00a792CC2ee0FcE737. The contract contains some math optimizations as well as improved Vyper-related gas savings, but is otherwise very similar to the previous code. The contract is now live

15)[Shop]: A community member set up a Frax Finance shop! Members can now buy FRAX merch and swag at https://shop.frax.finance/

16)[Partnership]: Frax Finance and WarpBond established a partnership. The Frax community will be joining WarpBond in the Space Race. The WARP team gave away 5 exclusive $FRAX NFT starships (worth $1,000 or 4 minimum bonds of $250 each) to the $FRAX community.

17)[Bridge]: Zigzag Exchange added ETH & FRAX withdrawal bridge. Users can try the bridge out here

18)[Twitter Space]: Sam Kazemian from Frax Finance and Derek Yoo from Moonbeam went live on Twitter Space to discuss Frax, a fractional-algorithmic stablecoin protocol, and the ramifications it might have on the multi-chain future! Listen to the recording 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.

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

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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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