What We Did
Events / Media
[Cartex] Sean Kelley from Frax Finance was hosted by the Cartex team on their Twitter Space where he discussed the new Frax pools on Catex, ecosystem updates, and scaling DeFi on Unichain.
[Hanson Birringer] co-founder Sam Kazemian was hosted by Hanson on his Twitter Space where Sam discussed the proposal to issue HyperliquidX's stablecoin USDH natively, along with his future vision for USDH.
[HypurrCollective.hl] Stablecoin Roundtable $USDH
[Stabledash] Sean Kelley from Frax Finance was hosted by Stabledash where he discussed Frax's USDH proposal for HyperliquidX and how DeFi protocols are approaching stablecoin infrastructure/issuance.
[The Rollup TV] Hyperliquid USDH Stablecoin Special
[Unchained] Bits + Bips: Hyperliquid’s USDH Bidding War & Why the DAT Model Is Broken. Link.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
[FIP - 434] PASSED: A proposal to build upon FIP-430, which established a separate balance sheet and governance-guided yield strategy for sfrxUSD. Approval for whitelisting an initial set of AMO strategies with allocation caps and setting clear rules for how future strategies are approved.
Partnerships / External Integrations
[Aerodrome] WFRAX and frxUSD pools on Aerodrome (Base) now receive AERO emissions.
[Stables] Ethereum frxUSD integrated on Stables, with Fraxtal support coming soon. This marks the first crypto card payment gateway for frxUSD
[Unichain] frxUSD was deployed on Uniswap’s Unichain, a L2 chain designed for DeFi.
Tech
[Flox / FXTL] First batch of Yapperboard points. Deployed conversion/staking related contracts. Working on scripts and more docs for conversions.
[Fraxlend] Sunsetting of misc old pairs.
[FraxNet] CCTP work for Linea, as well as testing for CCTP v2 migration. Remote custodian testing. TODO: Meta CRM, sfrxUSD state relay, debit card support, and branded stablecoins.
[frxUSD / sfrxUSD] V3: ERC-1271/3009 support currently being audited by Zellic.
[General] Cleaning up
frax-tokensrepo.[Multichain / LayerZero] Audit, review HyperLiquid composer docs. More HyperEVM/HyperCore work. OFT Upgrade 1.1.0 audit. Gasolina API hook, and work to itegrate Argo CD there. Todo: hop contracts for HyperEVM, Frax DVN support for Movement and Aptos. DVN testing for Tron and Ton.
About Frax
Frax currently issues 3 stablecoins: frxUSD, FPI, and frxETH, along with numerous other non-stablecoin tokens. There are also multiple contract groups or "subprotocols" within it that integrate these tokens to provide utility and stability.
You can see a more detailed overview here.
Legal Disclaimers
This announcement is not intended to provide financial, legal, or investment or other advice and we recommend that you do not rely on, and do not make any financial or other decision based on this announcement. It has been written and published by members of the Frax team and provides no guarantee, commitment, or undertaking to utilize any Frax-related funds, assets, properties, or personnel. Frax does not owe, and does not intend to assume, any duties or obligations to Frax users or participants. The Frax community (namely veFXS holders) may decide, through voting mechanisms, to direct the protocol in an entirely different direction than that of the team, and the latter would be obligated to follow said vote(s).
To the maximum extent permitted by applicable law, all software relating to Frax is being provided on an as-is, where-is basis, with no representations or warranties being made to Frax participants and with no liability to the Frax protocol or any other person involved in the development of Frax. The statements set forth in this announcement also are not intended to be warranties, representations, guarantees, or assumptions of duty or liability of any kind. The protocol will not be liable for any damages arising from its use or misuse.
The forward-looking statements in this announcement are subject to numerous assumptions, uncertainties, and risks which are subject to change over time. Such assumptions, risks and uncertainties could cause actual results or developments to differ materially from the results and developments anticipated by us. Even if anticipated results and developments are realized, such results and developments may nevertheless fail to achieve any or all of the expected benefits anticipated by this announcement.