The official Telegram group for Frax. https://frax.finance/ codebase: https://github.com/fraxfinance twitter: https://twitter.com/fraxfinance news: @fraxfinancenews trading: @fraxtrading
L1 valuation is based off NVT, network value to transaction ratio
Читать полностью…No but I will personally be super mean to any fraximalist that tries to value Frax commodity tokens as P/E DCF tokens after the token upgrade to an L1 asset. 😡 So don't do it, or you'll get your fraximalist badge revoked.
Читать полностью…@southseacompany @U318GE @Grills_R I got us a bump in incentives for this new epoch. Lmk what you think https://bunni.xyz/explore/pools/mainnet/0x690f92bc0598b82fa7dfea7cba108f54da349da46b22bc634795a9d34617b22c?ref=0xe7Edf25702f5EE446f55Fe21c579F9018f3d5Bc4
Читать полностью…TLDR = It all stemmed from accusations of FDT misappropriating $456M of TrueUSD (TUSD) collateral reserve.
FDT is TUSD's custodian, and Justin Sun bought TUSD's issuer in 2023. Now he is coming out today accusing FDT of insolvency, and it's causing FDUSD to depeg.
FDUSD is FDT's stablecoin that they worked together with CZ on to replace BUSD on Binance because BUSD was getting regulatory heat from the SEC.
https://www.coindesk.com/markets/2025/04/02/tron-s-justin-sun-bailed-out-tusd-as-stablecoin-s-usd456m-reserves-were-stuck-in-limbo
https://x.com/justinsuntron/status/1907453216524243373
Читать полностью…even in worst case where sfrxUSD cannot be done (which I have no idea), there are alternatives like distributing these rewards to make the ecosystem bigger like incentivizing LP (i.e., frxUSD-OHM). I can't imagine the pressure that frax is in, so much respect for them
Читать полностью…https://x.com/milesdeutscher/status/1907387557232730361?s=46&t=0DwEZHXjuJYvM3vbA-1g1g
Читать полностью…Then Frax can just work around it by distributing profits to staking tokens instead of giving the payment coin yield directly. I would be shocked if they didn't allow for a dual token model though where a separate non-payment stablecoin token gets the yield.
Читать полностью…I would be surprised if that happened. What would happen to that yield if it can't be distributed to anyone?
Читать полностью…Yes. But am afraid it may come back in a way that you can't transfer yield to staking tokens as well.
Читать полностью…I think the language in your screenshot is pretty clear. Frax cannot pay interest or yield to frxUSD holders.
"A permitted payment stablecoin issuer [Frax Finance] may not pay interest or yield to holders of its payment stablecoins [frxUSD]."
I think this says tokens like sfrxUSD can't be payment stablecoins.
frxUSD = payment stablecoin
sfrxUSD = yield bearing stablecoin
It seems inevitable that all crypto assets except BTC and meme will be unconsciously evaluated as P/E DCF assets, and there is no other more intuitive number to express the valuation, which is related to the classification of them by tools like defilama🤔
Читать полностью…25% apr on stable is definitely sexy. Should attract tvl for sure now
Читать полностью…Justin said to stay tuned for "press conference tomorrow at 2 PM HKT, where major global media outlets will be in attendance"
Читать полностью…First Digital to 'Pursue Legal Action' Over Justin Sun Allegations as FDUSD Price Drops — link | tl;dr
Читать полностью…FDUSD which is custodied by FDT and listed on Binance is starting to depeg
Читать полностью…At this time, I do not share your concerns. Many many options to make this all work.
Let’s see how the bill gets finalized.
dTRINITY gives out interest rebates for dUSD borrowers instead of yield to holders. I wonder if that could be viewed as a borrowing cost discount instead of yield. The rebates are ultimately funded by sfrxUSD which backs dUSD
Читать полностью…It's not in the language of the bills now, so I don't think it's something they're looking to do
Читать полностью…yield can be distributed to native gov tokens(in this case $frax/$fxs)
Читать полностью…It doesn't say anything about shareholders in the company. Just holders of its payment stablecoin.
Читать полностью…I understand that.
But not clear whether this bill might prohibit sharing a payment stablecoin sharing yield to its stakeholders