Frax Finance Weekly Report #14 | April 2022.
A round-up of Frax Finance updates in a few minutes.
1)[Code Review]: We entered into the upcoming Frax Price Index (FPI), Fraxswap and Fraxlend code review. We released the FPI & FPIS, FraxSwap/TWAMM, FPIControllerAMO (used to stabilize the FPI peg to the CPI oracle) and CPITrackerOracle codes for the community to investigate them.
2)[Partnership]: SynFutures Partners with Frax Finance to Expand Trading Opportunities. Frax Finance will bring liquidity for $FRAX trading pairs to SynFutures protocol and contribute to a Matic-Frax pool on Polygon.
4)[Collaboration]: Citadel DAO, a treasury DAO set on becoming the largest community owned BTC position in the world, announced Frax Finance as one of their knight of Citadel.
5)[Partnership]: Concave officially partnered with Frax Finance. Concave adopted $FRAX as one of its treasury assets, also users can use $FRAX to purchase bonds. The Frax and Concave team had a dedicated AMA on Monday, 28th March, 11am EST.
9)[Exchange]: $FXS and $FRAX token was listed on Gemini for trading on their API/FIX and ActiveTrader applications for USD trading pairs, and on the Gemini Mobile App and website for USD, GBP, EUR, and CAD pairs.
10)[Podcast]: Sam Kazemian, co-founder Frax Finance joined Kirk, co-founder Volt Protocol to discuss how Stablecoins will reach $1 Trillion + Marketcaps and how they’ll beat inflation for good. Listen here: Spotify, Podcasts and YouTube.
11)[Pool]: Platypus will support $FRAX in their alternative pool that will be launched on 6th April. Alternative Pool will help to bring in more stablecoin options for their users.
12)[Proposal]: A proposal to introduce 4pool was passed. The 4pool is the new gold standard for stablecoin liquidity, bridging the gap between decentralized and centralized stables. The 4pool is a new curve pool composed of UST, FRAX, USDC, and USDT.
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.