FRAX FINANCE BIWEEKLY PROJECT UPDATE - #30
Week ending 01/10/2025
What We Did
Events / Media
[BMX] Sean Kelley from Frax.com was hosted by Rachel and Deez from BMX. They discussed frxUSD, the Fraxtal blockchain, the long-term strategy for Frax, and more. Link.
[FraxFeed] Co-founder Sam Kazemian was hosted by FraxFeed for a special Christmas interview where he shared insights into his upbringing, philosophy, and the personal motivations that have driven him as a DeFi leader over the past five years. Link.
[Fraxiversary] Frax celebrates its 5-year anniversary. https://frax.com/nft
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
None for past 2 weeks.
Partnerships / External Integrations
[Exchange] Several exchanges (OKX, CoinEx, MEXC, Binance, Bybit and Crypto.com) announced the upgrade of FXS to FRAX, our upgraded ecosystem gastoken for our Fraxtal chain.
[F(x) protocol] frxUSD was selected as a stablecoin PegKeeper by F(x) protocol.
Tech
[Flox / FXTL] Listed Fraxiversary on Rarible. Farm data backend work. Allocated FXTL points for Rarible artists. FNS metadata and image generation.
[Fraxnet] FUI “trade” module work.
[frxUSD] Branded stablecoin work, mint/redeem flows, and audit. Work on gasless frxUSD & OFT sends. EIP-3009 work and upgrade. frxUSD OFT adapter for Tempo deployed and tested on their testnet. Explored use of frxUSD as a gastoken on Tempo testnet. Also worked on freeze/thaw logic and TIP403. TODO: frxUSD/pathUSD conversion for Tempo LZ gas token.
[FXBs] FXB20251231 has now matured and is redeemable.
[Multichain / LayerZero] HopV2 AI audit fixes. Testing frxUSD as a gas token for LayerZero. Solana → EVM OFT bridging tests with Fraxtal HopV2. TODO: Freeze/thaw Solana token work. Create automated checker of LZ proxy/impl contracts. Connect Movement/Aptos to Eth mainnet and add Frax DVN. Tron OFT deployment
Other
[Frax Force] Frax Force Community Talk - Roundtable on Frax part 3. Link.
[Frax Force] Frax Force Community Talk - Roundtable on Frax part 4. Link.
About Frax
At Frax, we’re building the world’s most scalable stablecoin infrastructure for the next generation of finance.
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.