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https://vxtwitter.com/fraxfinance/status/1873184902092361747
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If US gov wants to fuck your protocol then a whitelist for a single one of your collaterals is the least of your worries
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biggest reason for me for not voting on proposals is simply not keeping up with new proposal/not hearing of it
maybe in the future it might be good to sort proposals in categorys (splitting fraxlend amo proposal from fxusd rebrand) etc
agree on this
imagine if a proposal had convex as sole NO voter and the entire rest of protocol voted yes it sends a message and ussually the proposal would be discussed again
anyhow convex aint a lone entity
its votes based on their user votes so people should try to advocate to those users
Thanks for clear answers. Haven’t looked at maths yet but conceptually can see how crowd behavior could work
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If you take FRAX lend high utilization really penalizes borrowers . Is the subsidy the only mechanism to mitigate the normal IR jump proportional to utilization
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We're doing in this in order to stimulate demand and raise the protocol's utilization to 93% faster. When that happens, dUSD lenders will be earning 18-20% APY, and borrowers will be paying an effective borrow APY of roughly 10-12% (net of the 13% APY subsidy). This borrow APY is in line with USDC on Aave
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Rebates are funded by dUSD's yieldcoin reserve's earnings.
There is about $600K of yield-bearing reserves currently, mostly in sDAI (~13% APY). There is also about $570K in dUSD debt currently. So the debt ratio is: 570 / 600 = 0.95
Rebate APY = 13% / 0.95 = 13.7% APY
Organically this is what it should be. However, we are boosting the current rebate APY to much higher, 35% APY right now, using some of the project's early funding.
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Answer YES to agree, thanks
If you have FRAX, you could consider LP-ing it in our Curve pool to farm dT points: https://curve.fi/#/fraxtal/pools/factory-stable-ng-45/deposit
You can also lend dUSD to farm dT points: https://app.dtrinity.org/dlend/money-markets/
Points are 50/50 between FRAX LPs and dUSD lenders currently.
If you borrow dUSD, then you only earn interest rebates, which could make your net borrowing cost negative (i.e., get paid to borrow)
And if you cant answer that.. how about this:
Did they throw any figures out about how much time and money they could save utilizing blockchain, or have some visionary goal for their being in it that they shared during any of your talks?
😁 sorry if it's rude of me to ask these questions. Feel free to keep it a mystery, but I wonder about these things 😄
What's the perceived impact of a defi native token like frxUSD being backed by a USTB which has an allowlist. Could we be removed from the list and funds frozen if they dont like what some people do with frxusd?
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the ceo(founder?) of cvx doesnt hold all the power over convex votes
but still a large amount ofc
if anything frax should have offered a better alternative to cvxfxs than vefxs is as all fxs was flowing to cvxfxs
currently (pre vision)
cvxfxs offers higher apr
and already offers the boosted apr on pools on platform
i think holders with a decent amount of vefxs ( like 100k) defo vote on things thats interesting to them
but it depends on marketing
most proposals are not seen
people vote even if cvx holds most power as it takes barely any efford
but only if the subject is something they are interested and if they hear about it
And when lenders mint more dUSD to supply, we gain more reserves to generate more subsidies. The cycle repeats ☯️
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That is the Yin. The Yang is above-market yields for dUSD lenders (plus dT points), incentivizing them to mint and supply more dUSD, bringing the utilization down
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93% utilization is where the magic starts to happen
dUSD lenders on dTRINITY will earn more than other stablecoin lenders on Aave. But dUSD borrowers will pay roughly the same or less than borrowers on Aave
dUSD borrowing subsidies reduce the effective borrowing cost at low utilization levels, attracting more borrowers. Subsidies also increase the effective lending yield at high utilization levels, attracting more lenders.
This is the beauty of dTRINITY 🎮
Are you pushing people more to borrow at the moment to get traction
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In the early stages how are you funding IR subsidy + how are you maintaining peg ? (Yield bearing collateral looks likes it’s locked)
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Yes but 2 things need to happen before we can do that:
- Need to integrate our liquidator bot with Odos to access deeper liquidity from multiple DEXs for potential liquidations, ensuring we can scale safely
- Need more FRAX liquidity on Curve for the FRAX/dUSD pool (waiting for the Frax team to deploy AMO liquidity support soon). We're also rewarding LPs with dT points to incentivize FRAX contributions in the pool.
With more FRAX in the pool, dUSD borrowers will be able to take out more debt and swap dUSD efficiently with other assets to loop or gain leverage (without de-pegging dUSD too much).
More FRAX in this pool also ensures adequate liquidity for potential liquidation events.
Here's a post we just made about this (plus how to farm dT points from dTRINITY): https://x.com/dTRINITY_DeFi/status/1873110492614672869
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dTRINITY disables rehypothecation of supplied collateral by default to mitigate risk
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Great video. It will help me brush up on my Spanish.
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@samkazemian did we pitch BR/Securitize, or did they come to us with "we want to work together"? 👀
It's less about the politics of the question, and more about whether or not they could see the vision, or if you painted them the picture.
That's what I would like to know😎