Frax Finance

13 Dec 2024 23:29

FXTL points will always run and exist as it is the way people earn their proportion of emissions/security budget. As explained above, once emissions stop and hit the cap, a portion of the burn engine gets distributed back to the security/growth budget. The way to earn that will still be the FXTL points system. So it's always good to earn FXTL points, they'll always be worth it.

Frax Finance

13 Dec 2024 23:28

veModel is aligned, you can’t just come to get piece and leave, you need to lock longtherm to have a good share that it

Frax Finance

13 Dec 2024 23:26

That definitely won't happen here because the veSystem distributes evenly without the possibility of that just like veCRV fees etc but we'll make sure to keep that in mind especially for the points distribution parts.

Frax Finance

13 Dec 2024 23:25

And as @ETHuncho said before, we're working to be more active with the Asian/Korean market as well potentially with Upbit and work closer with Bithumb that already is supportive of FXS and Frax in general.

Frax Finance

13 Dec 2024 23:24

When do we see stablecoin change direction and what needs to be done that to happen?

Frax Finance

13 Dec 2024 23:20

Does mexc offer withdrawals directly to fraxtal? Gonna dca a bit more tomorrow and wondering if they do

Frax Finance

13 Dec 2024 23:12

amazing thank you, looking forward to it

Frax Finance

13 Dec 2024 23:00

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. 👍

Frax Finance

13 Dec 2024 22:59

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.

Frax Finance

13 Dec 2024 22:54

I’ll bring the rest of my eth and see

Frax Finance

13 Dec 2024 22:51

https://x.com/fraxfinance/status/1867677161228054564/photo/1

what does enshrine even mean in this context?

Frax Finance

13 Dec 2024 22:50

Get that error no matter what

Frax Finance

13 Dec 2024 22:46

@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?

Frax Finance

13 Dec 2024 22:31

Wait until Monday sir. You're going to have every one of these answered with our Universal Interface and completely new homepage and app. 🙏️️️️️️

Frax Finance

13 Dec 2024 22:29

- 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!

Frax Finance

13 Dec 2024 23:29

Btw also helping making even more FRAX scarce and low supply available to buy 🤝

Frax Finance

13 Dec 2024 23:27

frxUSD will be the first part of the upgrade process so very very soon, in a matter of days sir.

Frax Finance

13 Dec 2024 23:26

Will fxtl still work after the tail emissions is gone? or will it over time be obsolute?

Frax Finance

13 Dec 2024 23:24

a suggestion for these rewards: ive been part of some projects that give you a 'estimated rewards' based on share and then some whale comes in right before distribution and everyone gets a fraction of what they were expecting leading to disappointment and anger. Easily avoided but not always considered.

Frax Finance

13 Dec 2024 23:23

They don't currently as far as I'm aware but if you ask them that would probably help them prioritize it higher before the upgrades if they see organic demand from their users. We're beginning to work with CEXes to support the FXS token upgrade+hardfork so that they will have withdraw/deposit support and trading seamlessly when that goes live. It will be an exchange by exchange basis though and the more their valued customers ask for direct Fraxtal support, I'm sure that would weigh into their resource allocation.

Frax Finance

13 Dec 2024 23:17

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

Frax Finance

13 Dec 2024 23:08

@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

Frax Finance

13 Dec 2024 22:59

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.

Frax Finance

13 Dec 2024 22:54

How much eth is it to mint and stake as one fee?

Frax Finance

13 Dec 2024 22:53

I think you need some eth for gas

Frax Finance

13 Dec 2024 22:50

Gonna bring the rest of my eth on here too but just want to make sure I can still mint and stake it

Frax Finance

13 Dec 2024 22:47

And then slow down the burn engine over time and allocate to treasury.

Frax Finance

13 Dec 2024 22:42

Please send a screenshot of the error you are getting.

Frax Finance

13 Dec 2024 22:30

Any reason why I can’t seem to mint more frxeth. Keeps giving me same some for gas no matter how much I leave

Frax Finance

13 Dec 2024 22:09

Part 2 of 3 of the Frax Vision Roadmap has been released! https://fxtwitter.com/fraxfinance/status/1867677016742670473