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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
@samkazemian clearly said two things:
1. single digit increase proposal
2. after that smart contract will become immutable
Wanna bet the immutable max supply is gonna be 200% higher than your 7 million more guess?
I'd say 120 million will be the new max supply and that might be still too low
They may even say 150 or 200 million as new max, make everyone angry then reduce to 120m as a concession
That was the FPIS playbook
My perspective: the protocol is less than 4 years old. The team did not have all of the answers as to the best tokenomics when it all started several years ago.
My overall opinion is that the team is making the best decisions for the longevity of the protocol, and its “share holders” with the information that they have at the time. This is debatable based on personal perspective. Ie, your comment on FPIS.
I also think that any tokenomic changes that come from the Vision2030 should be re-reviewed every few years to ensure that it is still the best tokenomic design for the value capture of the protocol. That doesn’t mean the hard cap should be adjusted bc it can’t be since it will be immutable.
I believe the team has the protocol and all of its shareholders best interest at heart and the existing solution (Vision), even though all information has not been released seems pretty ingenious and bullish long term.
Just my .02 frxUSD
This seems like an ideal situation of yours, max of 107m
But I think you're giving team too much credit given what they did with FPIS
They're gonna say something way higher than single digit increase to the immutable max supply number and say we will never reach there but they will find a way to dilute
All I know is if new max supply is higher they will only day hit that cap again
They showed willingness to use cap with FPIS
As an example, yes.
What I don’t know is, do we go up to 107m right away?!? Is it a gradual up/down mechanism?!?
But, there will be a hard cap immutable, that we cannot go over.
Okay so you mean he may say 7% and that's a one time increase to 107m and we go down from there?
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The graph in the Twitter thread they released clearly shows and says it will be a fixed number max
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It is not answered there either
I'm asking how much the new hardcap max insuuancenumber is
It used to be 100m but it wasn't immutable because initially fxs could be used to mint frax
You can check sam comments on this here
/channel/fraxfinance/379285
Per @samkazemian , hard cap will be an increase to the 100m by single digits inflation.
It is necessary for long term stability of the protocol and, due to burn mechanism being presented, it may get wiped out year 1.
I'm trying to scroll and search here but I don't see a number
Gonna propose a 150 m token hardcap cap so we all own 33% less of new fdv?
FPIS conversion wasn't enough?
I am sorry, I could not find any relevant information to answer your question about the number of Layer 3 blockchain solutions expected to launch in 2024. You might want to specify particular projects or platforms you are interested in, or check for updates from blockchain development communities and news sources for the latest information.
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It's important for a project's team to be recognized; it helps build their reputation.👌😉✌️
I'm strongly rooting for higher growth for the FXS.🚀
1. My guess domes from @samkazemian saying “single digit” inflation. I used 7% as an example.
2. I wouldn’t be concerned if it was 120m, 150m or 200m as long as there is a plan with KPIs on burn.
My perspective is much harsher than what I'm saying here...FPIS conversion was one of the worst governance actions I've seen and thankfully he didn't get away with 1:1 as initially proposed.
Then to blame price after that action on lack of Korean exchanges is comical
On his first proposal sam initially wanted to increase fxs supply and pay like 300m of fxs for fpis
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My understanding is… the proposal will say a max cap of 7% inflation, as an example.
Therefore, the max hard cap (immutable) will be 107m.
At the same time, there will be a burn mechanism.
So, when will we hit 107m?!? Right away? Over 2 years? Maybe never?!?
The mechanics around the additional emissions and how they will enter the market —> I have not seen a details outlining this.
Or you mean he may say 2% and thats 2% a year forever as a hardcap minus whatever we burn
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Agreed. Based on my understanding, it will be a fixed number max. The fixed number max will be a single percentage increase from 100m.
The exact percentage increase has not been released and I believe it won’t be released till there is a governance proposal.
The exact number has not been presented yet other than to say it should be single digit percentage increase to satisfy the sustainability of the ecosystem.
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The inflation number presented (single digit increase) will be the final hard cap and immutable.
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That's not a hard cap though
A hardcap is an immutable number
Is the 3rd news of vison 2030 going to be announced today?
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Hi it's been a while just want to check
Is the new frax share governance token going to have a hard cap of 100 million or will there be new dilution?
I read the 2 threads on Twitter but didn't see numbers
The founder of Frax Finance is Sam Kazemian.
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Frax Share (FXS) Token Overview
💵 Price: $3.52255338
📈 1h: +0.24%
📉 24h: -0.75%
📉 7d: -21.27%
🏙️ MCap: 259th | 302M
💧 Vol: 23M
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