Frax Finance

12 Dec 2024 00:08

Decentralized governance and a good word to Convex

Frax Finance

12 Dec 2024 00:00

If veFRAX holders receive FXBs as rewards, is there a thought process on incentivizing pools with FXB or frxUSD vs FRAX (formerly FXS)?

Currently all pools are incentivized with FXS or, possibly a partner governance token like crv.

Would we no longer incentivize pools with FXS?

Frax Finance

11 Dec 2024 23:50

3.14) veFXS to veFRAX governance vote

Frax Finance

11 Dec 2024 23:49

It really can't be more simple than that sir. New users just enjoy Frax USD, new veFXS yields. OG users enjoy the same. Just stay tuned for parts 2 and 3.

Frax Finance

11 Dec 2024 23:47

In order for billions of people to use it and every day everything should be implemented as friendly as possible and in one click like Meme tokens))

Frax Finance

11 Dec 2024 23:42

With the publication of the vision, everything became even more confusing, and the implementation deadlines became uncertain. We believe in the team that it will be possible to implement everything planned in a short time.

Frax Finance

11 Dec 2024 23:39

You'll see. But what I will say is that our goal is to keep Frax USD as decentralized and non-custodial (bearer asset) as possible. We're not going the Maker USDS route. No plans for blacklists.

Frax Finance

11 Dec 2024 23:28

So with this new fraxtal road map coming, the fxs(frax) halving with not be effected and it's still coming in 20 Dec?

Frax Finance

11 Dec 2024 23:21

whats gonna be the diff between the fiat fma coin vs the decentralized coin if theyre the same? is frxusd gonna have a freeze func?

Frax Finance

11 Dec 2024 23:12

is FMA coming out too?

Frax Finance

11 Dec 2024 23:04

Hello ser. I have some new information to you. You can see on the Frax Facts page linked underneath if we have assets in FinResPBC. It should be searchable when we do. At the moment we do not have any assets on our balance sheet with them.

As for transparency of assets with FinResPBC, you have to go through their website or find other public information on their assets. The team has their processes and due diligence in place, but it is not public at the moment. Hope that satisfies your question.

https://facts.frax.finance/frax/balance-sheet

Frax Finance

11 Dec 2024 23:00

Lock in protocol profits, go long ETH and BTC. Who wants out can cash out their bond in a Curve pool. Sound amazing

Frax Finance

11 Dec 2024 22:58

By that point maybe there will be no reason to redeem, just spend frax usd

Frax Finance

11 Dec 2024 22:58

As a benefit it will make the bond markets more liquid

Frax Finance

11 Dec 2024 22:56

Yes, I have been pushing for redistribution of protocol profits in the form of stables. This way sounds much more profitable for everyone involved

Frax Finance

12 Dec 2024 00:06

alright read the news today about rebranding. Love the idea to invest into the treasury, how do I open a prpoposal to ditch ETH and only buy BTC?

Frax Finance

11 Dec 2024 23:53

Sorry, I only version like Donald Knuth

Frax Finance

11 Dec 2024 23:49

3.1) we get multi-chain DA and north-star hard fork

Frax Finance

11 Dec 2024 23:47

Let me make it more simple for you:

1.) You don't have to do anything at all right now.
2.) There will be a gov vote to turn on veFXS multitoken rewards. Enjoy the rewards/yield when it starts.
3.) There will be a gov vote on launching Frax USD, the Frax stablecoin v1 will always continue to work as normal and everything functions the same forever. You can upgrade the v1 stablecoin 1 to 1 any time to Frax USD.
4.) ???
5.) Profit

Frax Finance

11 Dec 2024 23:44

To be fair, the whole vision isn't out yet

Frax Finance

11 Dec 2024 23:40

Does FMA pump our bags somehow or is it just nice to not have middlemen?

Frax Finance

11 Dec 2024 23:38

Yes, everything works the same and smoothly. No changes to any of that stuff.

Frax Finance

11 Dec 2024 23:24

good question, probably yes

Frax Finance

11 Dec 2024 23:15

That would be the greatest of all custodian to reveal wouldn't it? I think you're getting it now why Frax USD is the new mint/redeemable design. Sets the stage nicely 😉

Frax Finance

11 Dec 2024 23:10

Personally thought the most important parts today were: custodians + relationship between fraxUSD, sFrax and fraxBonds. This allows on/off ramp into frax yield products directly (cuts out other stables) and will significantly expand TAM

Frax Finance

11 Dec 2024 23:03

Keep in mind that in most countries there is no difference between an FXB and PEPE. The tax man and the local sec will treat them the same.

Frax Finance

11 Dec 2024 23:00

Like you said, this does make FXB markets more liquid and tbill-like, Frax is the only ecosystem that has the full yield curve onchain like this. You won't need to leave Frax nation unless you voluntarily decide to (which you can always do ofc). The full yield curve, best stablecoin yields, a high-performance sovereign rollup chain, and a diverse ecosystem+community. It's the full stack of crypto. 😎️️

Frax Finance

11 Dec 2024 22:58

Even when the FXBs reach maturity, they convert to Frax USD and the Frax USD backing remains on the Frax balance sheet unless people redeem.

Frax Finance

11 Dec 2024 22:57

It also forces Vefrax holders to hold onto their rewards unless they want a pay cut and relies on a secondary market for frax bonds… if lots of people sell their rewards the rewards will start to be worth less unless you hold to maturity

Frax Finance

11 Dec 2024 22:55

It will increase in size until bonds start reaching maturity