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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
ive always felt the language of "peg" and "discount" are wrong with Convex, cvxCOIN and COIN are valued differently because cvxCOIN has inherently different utility and properties with the Convex platform as a permanently custodied asset. Ideally veFXS revenue explodes and so will buying of cvxFXS to come get a piece
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the ratio will tighten when there is more demand for cvxfxs than fxs in the pool. Yield increasing makes staking cvxFXS more attractive
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If it’s discontinued what happens with all that FXS that was used to mint cvxFXS?
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cvxFXS/FXS is a market, which at the moment thinks cvx wrappers should be discounted
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the peg can improve once the yield for staking cvxfxs goes higher
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You can find information on the Frax balance sheet here: https://facts.frax.finance/frax/balance-sheet
As for the RWAs in FinResPBC, I have to come back to you later with the information. Thank you ser.
Hello ser. Thank you for your question. frxUSD and Frax assets aim to be decentralized, meaning no user, entity or builder should be afraid to have their assets blacklisted and not usable.
As for the underlying collateral, Frax has created its own system to back frxUSD with dollars etc. through our partner FinResPBC, making the use of USDC unnecessary. frxUSD is also currently partially backed by volatile assets such as ETH, CRV and CVX. Hope that answers your question ser.
Hello ser. Thank you for your question. The short answer is our purpose and goal is to issue the most important assets of the 21 century.
Issuing them is one thing, but it is important to make those assets attractive for users, entities or builders that want to use them. If you look at all of the pieces we have built, you can see they resemble the same tools as a traditional finance central bank have. Making us have the potential to be the decentralized central bank of crypto and finance. Having finished to lay the foundation of our strategy, we can now focus on making Frax assets, Frax products and Fraxtal the best place for users, entities and builders to be, use and cooperate with.
We are soon launching our Vision 2030 roadmap, starting with new information releasing 11th of December, only in two days. If you want to see how Frax plans to become the decentralized bank of crypto and finance, we urge you to follow our upcoming announcements and information.
Hello guys! I have a newbie question :)
After my cursory analysis i think, that Frax Finance is a complex ecosystem with many products.
But it's old project from end of 2020 and have no ultra-mega-results like Ethena with their USDe.
I am by no means saying that frax finance is a bad product. But there are many algorithmic stables on the market that have more popularity compared to frax.
But since the whole frax ecosystem is spinning on top of their stablecoin, then why this project is needed. What is its purpose?
G'day sers!
Trying to connect to Flox with Fblocks, but after connection the WC still says connect wallet, cannot interact with the platform, is there a compatablity issue with Fblocks?
it makes sense to bring the naming in line with the more modern conventions shared between Curve/Convex/Frax now. Its easy to know what frxUSD and crvUSD represent and what platform they originate. FRAX is a better ticker imo
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More yield to veFXS stakers means that cvxFXS holders will earn more.
If they earn more, it typically increases demand which in theory would increase price.
In any case, what would help to make it less discounted? The only thing that matters is yield for cvxFXS?
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why or how would it be discontinued, FXS is permalocked by Convex into cvxFXS it is intrinsic to what Convex does as a service
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The current collateral ratio (CR) of Frax is 102.57%.
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the ratio was never a hard peg nor was ever meant to be
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Will convex ever do anything to fix the cvxFXS to FXS ratio? Current ratio is ridiculous and will incur a huge loss if realized
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https://curve.fi/#/ethereum/pools/factory-twocrypto-10/deposit
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Where i can find this info and collateral assets list? Docs has no any info about this.
And info about RWAs FinResPBC. I cant find acceptable info-audit about their collateral in RWA in bank, deposits and etc.
Can you help with this info please?
Thank you so much. Time to buy your token, if in two days releasing new info :)))))))))))))
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How is frxusd suppose to be decentralized if usdc is what is used to back it? Usdc is centralized. If circle decides to ban frax hypothetically, backing is done?
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Hello ser. That is because the veFXS increased, as well as only staked cvxFXS get rewards. If there is a lot of unstaked cvxFXS, the people choosing to stake will get a higher percentage as the rewards will flow to fewer people/tokens than there is cvxFXS. You can find more information here: https://frax.convexfinance.com/
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