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The official Telegram group for Frax. https://frax.finance/ codebase: https://github.com/fraxfinance twitter: https://twitter.com/fraxfinance news: @fraxfinancenews trading: @fraxtrading
You don't just get FXBs, you get a growing number of points/tokens that secure the Frax chain+ecosystem from our strategic partners and revenues like Karak points, ENA, AI agent airdrops, Symbiotic points. The FXBs are disitributed so that protocol income can continue to increase the total balance sheet of the Frax Protocol to make it one of the largest entities onchain. For example, if the protocol makes $1m in revenue, then $1m of FXBs go to veFRAX and the $1m in revenue backs the FXBs in the form of tbills. veFRAX stakers earn much more than $1m in rewards when you add up $1m of FXBs+ENA+KarakXP+airdrops+FXTL+SymPoints, and other strategic partners to be announced. That's what the figure in the announcement illustrates. This structure maximizes the APY for veFRAX stakers while allowing for the total assets under Frax's control to increase. Hope that helps clear things up 🙂
https://fxtwitter.com/fraxfinance/status/1866920929466650873
@samkazemian GM
I have a question about veFRAX (formerly veFXS): I buy FRAX(FXS) for $100, lock it for 4 years and get veFRAX during which I get paid FXB, which I can convert over time into frxUSD. What is my benefit here if I believe in ETH and BTC? In essence, FRAX Finance borrows my money and buys ETH and BTC with it? Can you explain it to me with an example please? What benefits I get if I’ll lock FRAX? Can you explain how it works? Will I get share of your crypto treasury after expiration date or what? I don’t really understand FXB in veFRAX context
Essentially yes if not even sooner, it's a very new design for a chain token that benefits from the best of BTC & ETH design.
Unlike ETH, SOL, etc FRAX (currently FXS) will have a max supply that we'll propose in a gov vote. Once that's set in the hardfork nothing can change it because it's a chain token and eventually validators will be decentralized. You'd have to hardfork and get validators/miners to agree which means it will be as immutable as BTCs 21m cap.
The only way to earn the limited emissions is from the FXTL points system. Then EIP1559, FNS, AIVM inference fees, and other infra fees go toward burning the supply.
Once there's near zero emissions, there has to be some security budget+incentives to keep the ecosystem healthy, secure, and growing. The unique burn engine mechanism is different than ETH's burn because it programmatically moves some of the FRAX (currently FXS) to the security budget over a number of years so that even though there is a permanent hard cap like BTC, the system can run forever into the future elegantly. This makes it possible to have a clear hardcap like BTC unlike the infinite supply of other L1 tokens.
Gonna bring the rest of my eth on here too but just want to make sure I can still mint and stake it
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And then slow down the burn engine over time and allocate to treasury.
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Please send a screenshot of the error you are getting.
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Any reason why I can’t seem to mint more frxeth. Keeps giving me same some for gas no matter how much I leave
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Part 2 of 3 of the Frax Vision Roadmap has been released! https://fxtwitter.com/fraxfinance/status/1867677016742670473
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when can we expect the token changes to happen? saw mentions of february
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They teased an AI related announcement for today. https://x.com/fraxfinance/status/1867378008937431060?t=v9XpzEcDJZQIGOJOK2yQEg&s=19
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anyone I can speak with regarding a strategic investment partnership?
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By the way: please change the cursor on iqai.io..... it is really really really cringe, no offense :)
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Yes of course, the official governance votes for all the things in the X announcement will go live over the coming days that detail these specs clearly so the community can vote+approve them. The X post is for a high level overview. The technical specs+docs+gov vote is coming. First with frxUSD upgrade and then the North Star Hardfork specs+gov vote in Jan. 👍
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will there be a doubleclick into FXTL points announcements? I know there's been a tweet in today's thread but honestly that doesnt say much.
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https://x.com/fraxfinance/status/1867677161228054564/photo/1
what does enshrine even mean in this context?
@samkazemian - just confirming my understanding.
We will dilute total FRAX(fxs) by tokenizing Fraxtal Points, but will essentially aim to burn that inflation in the first year via the Frax Burn Engine?
Wait until Monday sir. You're going to have every one of these answered with our Universal Interface and completely new homepage and app. 🙏️️️️️️
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- Add your webpage to your X handle.
- When i go to dashboard I display 4 different tokens on. Increase visibility with quick info.
- When i click external pools I display dead protocols like Chronos.
- When i click internal pools I would like to have ZAP function. What is this legacy protocol living in 2000?
- You need more UPDATES!
yeah feb for FXS, but for frxUSD it will be early 2025 imo
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@samkazemian are you guys going to add the 2055 FXB to Fraxlend?
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It's something new thing Frax is building with aivm.
'Frax is developing the “AIVM” parallelized blockchain within Fraxtal powered by a new Proof of Inference consensus system. The AIVM tech stack allows AI agents deployed to the blockchain to become fully autonomous and sovereign with no single party in control of the agent — a world first. The AIVM and Proof of Inference mechanisms enable seamless blockchain-AI collaboration and are developed in partnership with IQ."
https://www.globenewswire.com/news-release/2024/12/12/2996322/0/en/Future-of-DeFi-Frax-2025-Vision-Roadmap.html
What is proof-of-inference by the way. I can't find it anywhere
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