chogstar. world. order.
our first batch collabs are finally open! during the selection process, we will prioritize monad eco & their community
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→ https://t.co/34iIWj5tyN
Perks:
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This 🧵 recaps @fraxfinance products and synergy in-between. They exist for good reasons.
After reading this 🧵, you’ll be able to answer the following questions:
- Why are there so many different products on @fraxfinance?
- How are they intertwined?
- What’s the rationale of creating Fraxchain?
…
👇🏻👇🏻👇🏻
$FRAX stablecoin: deep liquidity bootstrapped via @CurveFinance’s voting gauge and bribery system
Fraxlend: building upon $FRAX deep liquidity to enable people to do the borrowing/leveraging, ie enlarging exposure to the collateral by borrowing $FRAX in loops (without deep liquidity, selling pressure could cause $FRAX to depeg)
- it’s equivalent to minting $FRAX directly backed by those collateral types with different caps according to their risk levels
- Note: though all $FRAX holders can deposit and earn interests, some $FRAX are minted by its AMO, with no interest payments to be split to lenders. Thus Fraxlend is more profitable than other lending protocols with the similar borrowed amount
$frxETH: a LSD business leveraging @CurveFinance’s voting gauge to create a flywheel causing the highest staking reward
- most importantly, its LSD business has been expanding fast by having sfrxETH to be accepted by Fraxlend as collateral to borrow $FRAX
- in other words, frxETH market share is boosted by leveraged offer by Fraxlend which makes good use of $FRAX deep on-chain liquidity to offer leveraging to sfrxETH holders
- With the launch of Frax v3 @samkazemian said as $FRAX yields will be subsidized by RWA, more bribes and voting gauge will go to $frxETH AMM pools, increasing yield-farming APR using $frxETH and its ‘monetary premium’ (explained below)
Fraxswap: the 1st TWAMM that breaks a large trade into many small sub-orders which trade against AMM at an even rate over time, facilitating its buyback program and AMO that maintains the $FRAX peg while saving gas and trading fees on other AMMs
Fraxferry: a cross-chain bridge that protects $FRAX holders from any bridging risks (see @MultichainOrg), and facilitates $FRAX to be the ‘multi-chain species’
Upcoming:
Fraxchain: it is to further increase $frxETH monetary premium
- more $frxETH tokens are used as gas, the less $frxETH tokens are staked as sfrxETH and so less of the total $ETH supply is sharing the entirety of the POS yield from validators, driving up the yields by sfrxETH.
- It is now collaborating with @EspressoSys to build a real L2 - as an ecosystem that has the ability to always give developers access to the best interest rate yields, whether that's $frxETH or $FRAX
Frax v3: unlike @MakerDAO’s approach to RWA by being heavily exposed to @centrifuge’s private loans, it only taps into Fed yield by bearing the minimal custodial risks of holding assets at the actual issuer of the thing it’s pegging to which is the USD
- as treasury bills’ yield is channeled in Frax pairs, some bribes and voting gauge to $FRAX pools will then be directed to $frxETH pools to further increase $frxETH monetary premium again and thus sfrxETH APR as well.
bAMM: the unique lending and liquidity system that's kind of similar to CRVUSD's LLAMMA, maintaining the peg of $FRAX without relying on oracles
🎉 Attention memecoin holders!
It’s time to join the "Fusion Dance Parade'' campaign by @zkLinkNova!
🦊 Like the Fox? Part of the Pac? How about summoning Chad? Ever wondered if you could reap rewards from just holding these following meme tokens?
@FoxyLinea@ArbDoge_AI@degentokenbase@BasedBrett@zeekcoin@OmniCatCoin
🔥 Now's your chance! 🔥
📅 Date: 6PM 10th May - 10th June 2024 (GMT+8)
Read our blog for more details! https://t.co/2vbkDUDnCk
🎉 Attention memecoin holders!
It’s time to join the "Fusion Dance Parade'' campaign by @zkLinkNova!
🦊 Like the Fox? Part of the Pac? How about summoning Chad? Ever wondered if you could reap rewards from just holding these following meme tokens?
@FoxyLinea@ArbDoge_AI@degentokenbase@BasedBrett@zeekcoin@OmniCatCoin
🔥 Now's your chance! 🔥
📅 Date: 6PM 10th May - 10th June 2024 (GMT+8)
Read our blog for more details! https://t.co/2vbkDUDnCk
🎉 Attention memecoin holders!
It’s time to join the "Fusion Dance Parade'' campaign by @zkLinkNova!
🦊 Like the Fox? Part of the Pac? How about summoning Chad? Ever wondered if you could reap rewards from just holding these following meme tokens?
@FoxyLinea@ArbDoge_AI@degentokenbase@BasedBrett@zeekcoin@OmniCatCoin
🔥 Now's your chance! 🔥
📅 Date: 6PM 10th May - 10th June 2024 (GMT+8)
Read our blog for more details! https://t.co/2vbkDUDnCk