so .. @fraxfinance is doing a lot of work to make partnerships with projects to use $frxUSD in their pools as the other side token. ie TOKEN/frxUSD
I called for this, but likely it has nothign to do with me calling for it, here
https://t.co/eUuPgr0kH0
SOme of the benefits you get
- a defi knowledgable partner
- social support
- incentive matching
Whereas with circle (USDC) you get nothing like this.
here are a few recents that see the benefits
@0xCoinshift $USPC
https://t.co/6iv5sSqiTt
@ParallelMoney $USDp
https://t.co/JCNttiEjLX
@Eva_Markets $evaUSDT
https://t.co/EqteiSzQrb
@AlchemixFi@AlusDaughter https://t.co/LTYsLFcHP5
This is just a migration from legacy to frxUSD
@tangent_xyz
https://t.co/KZHCIcjEyu
not really pegkeeper pool but using frxUSD.
Tom Wan recently listed the top OFT tokens still standing after the Chainlink migration wave. USDe, thBILL, USDT0, and weETH made the cut. frxUSD by @fraxfinance was not on the list. I pulled the data to see how they actually compare.
I ran all three through @PharosWatch compare tool.
frxUSD scores B at 74/100. USDe and thBILL both sit at B- with 68 and 69 respectively. But the gap runs deeper than the headline score. USDe holds an F in Resilience and a D in Decentralization. thBILL holds an F in Decentralization and publishes zero proof of reserves. frxUSD has no F across any category.
Then I looked at yield. I did the math on $10,000 invested for one year.
At USDe's current rate, sitting 0.70% below the T-bill benchmark, you end the year at $10,285. At thBILL's 3.75% APY, you close at $10,375. At frxUSD's 10.06% APY, you end at $11,006.
That is $631 more than thBILL and $721 more than USDe on the same capital.
And that 10.06% is not the ceiling. frxUSD has additional yield opportunities on @Morpho and the recently launched pool with @Eva_Markets on Curve, which has already crossed $1M in TVL. The yield routes are expanding, not static.
frxUSD also uses OFT, but not the way most projects do. It runs its own DVN and its own libraries that no external entity can upgrade, on a 3/3 DVN consensus policy moving to 5/5 soon.
The OFT landscape has more depth than the headline list suggests. frxUSD is worth adding to the conversation.
@TAUHEED5 Love $cfg and the fees it’s driving but if that doesn’t flow back into the protocol via buybacks, staking rewards or some other form of incentive , what’s the purpose of the token ?
@marinonchain Many have forgotten how hard crypto can run and just plain given up . Granted some had to cash out what they had due to life but for those still around , When stock money gets tired , Crypto gonna go nuts