Frax Finance

14 Dec 2024 10:02

Make sure to have a detailed explanation in the proposal

Frax Finance

14 Dec 2024 09:56

@samkazemian

Frax Finance

14 Dec 2024 09:54

I hope we see agents transacting 24/7 many many tx

Frax Finance

14 Dec 2024 09:53

This isn't actually contradictory at all even though it might sound counterintuitive. You can have tx's costing $.001 and the chain still making 8-9 figures in fees because of incredibly high activity just like Solana.

Frax Finance

14 Dec 2024 09:51

Perhaps repo destruction is more effective than fns and gas, the question is whether revenue will grow steadily, we have been behind the cr recovery for a long time

Frax Finance

14 Dec 2024 09:48

Is a bit contradictory selling that gas fees will be almost 0 and that a core part of FBE will be the change to pay gas fees with Frax commodity token

Frax Finance

14 Dec 2024 09:47

Yes that's what we're planning to propose in the gov vote.

Frax Finance

14 Dec 2024 09:45

Realistically, we probably need both you're right. US as well as Asia/Korea.

Frax Finance

14 Dec 2024 09:44

So what you are saying is that frax cap will increase and protocol is using revenue to buyback and burn?

Frax Finance

14 Dec 2024 09:42

All these users are extremely valuable and important members of the community, especially long lockers and participants here. But they're not enough buy demand by themselves to get the token performance that they want to see. In order to get there, FXS has to have massive visibility to millions in Korea, Asia, and CEXes. Not just the onchain defi community.

Frax Finance

14 Dec 2024 09:40

Users who have been with the agreement for four years just don't want to go through the pain of the past few years over and over again.
As the community has said, frax is a lottery ticket, but it has not been able to cash in.At least for now.

Frax Finance

14 Dec 2024 09:32

think due to the current token performance and market feedback, it is understandable that the community is facing a vague coin cap supply panic, if it is determined that the 100 million cap, then these fud will naturally disappear

Frax Finance

14 Dec 2024 09:20

This kind of rhetoric doesn't help at all. It was explained above the security budget we're thinking of is so low that it is 'minimum viable issuance' meaning that amount could potentially even be burned in year 1, so no more than ETH's own rate of small single digit immutable emissions. No one in their right mind would think that is excessive, in fact, it is literally as low as tokenomic design will allow. What did people think, we would be stupid enough to like double the supply? Cmon..

Frax Finance

14 Dec 2024 09:13

If the upper limit is increased, it will dilute the FXS in people's hands. Currently, the price of FXS is low, and if we want to increase the issuance volume, it will be a disaster!

Frax Finance

14 Dec 2024 09:07

you gotta be kidding me, anon.

Frax Finance

14 Dec 2024 10:00

I think you're misunderstanding what the proposal is, the proposal is low single digit emission with burns, almost identical to ETH but decreasing emissions even faster. Nearly all the current FXS is allocated already so where would the security budget come from otherwise? If people really think this is unreasonable, I don't know what to say other than to make your voice heard and vote+post when the proposal is up.

Frax Finance

14 Dec 2024 09:56

I think we will very soon, especially on Fraxtal after the launch of IQ APT and our AIVM 🤖

Frax Finance

14 Dec 2024 09:54

You just need some things that heavily promote trading/swapping like the BAMM and perps, onchain AI agents tx's, etc

Frax Finance

14 Dec 2024 09:53

Maybe we were too optimistic about destruction and revenue numbers

Frax Finance

14 Dec 2024 09:50

I think FBE biggest contribution should be a small % of the more used frax products, swap, borrow/lending

Frax Finance

14 Dec 2024 09:48

Can you explain why the cap needs to increase and can’t achieve the same outcome with the current 100m cap?

Frax Finance

14 Dec 2024 09:46

One time increase and permanently capped

Frax Finance

14 Dec 2024 09:45

By low single digit % is what we're planning to propose yes, similar to ETH.

Frax Finance

14 Dec 2024 09:43

No disrespect to the team, Korea is definitely an important market, do we need a US centric BD, because innovation, money market policies are currently in the US, and currently our BD is not expanding in the core area of crypto, the US

Frax Finance

14 Dec 2024 09:40

But anyway, this group isn't meant for price discussion but wanted to be upfront about token performance since you brought it up. I agree it's something we have to improve as it is far beyond "product" and much more about lack of visibility in key markets.

Frax Finance

14 Dec 2024 09:39

Well hopefully the above answers clearly settled that concern. The whole point of the new system is to lower all emissions and cap it , not the opposite.

And not to get into price because it's not for this channel, but I think really the source of that isn't about products, it's lack of CEX expansions and lack of Korean market expansion. We can take some of the blame there. To be honest, it's not our expertise which isn't an excuse. We'd love to hire an extremely experienced VP for CEX integrations+Korean market expansion. That alone would 10x the mcap, look at MOVE, ONDO, etc with big Asian market visibility.

Frax Finance

14 Dec 2024 09:27

To put in perspective how low of emissions this is, the current annual revenue is about 4x the proposed tail emissions. That means if you used the protocol revenue to buy back and burn today, it would remove 4x as much supply as what we plan to propose as emissions. Assuming voters approve it, FXS could be immensely deflationary even at the current revenue numbers today. So please just chill, and wait for the gov proposals to start rolling out and discuss them in the official forum. 🙏

Frax Finance

14 Dec 2024 09:15

The maximum supply of FXS is one hundred million pieces, which is already sufficient. Do we still need to issue more shares to mess things up?

Frax Finance

14 Dec 2024 09:07

spreading fud like this is no good

Frax Finance

14 Dec 2024 08:48

Keep doing well for yourselves