What We Did
Events / Media
[Token 2049 - Dubai, UAE] CoFounder, Sam Kazemian delivered a keynote where he discussed the future of stablecoins and Frax's completely revamped roadmap and vision to lead this era. The full keynote can be listened to here.
[bitcoin2025 - Las Vegas, NV, USA - May 27-29] Frax is a Moon sponsor of this event, and will be hosting a booth as well as the Frax Bitcoin Lobby Lounge (official entrance lounge) at the main entrance. Co-Founder Sam will be speaking, and many other team members will also be present.
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
[dTRINITY] sfrxUSD is used to back dUSD on Sonic
sfrxUSD's yield funds subsidies for dUSD borrowers,
sfrxUSD can be used as collateral to borrow dUSD and
dUSD/frxUSD pool was deployed on Curve Finance and SwapXfi on Sonic.
[Sei Network] sfrxUSD was integrated on Sei Network. Users will be able to convert frxUSD to sfrxUSD directly on Sei , using the Layer Zero bridge.
[Synnax] sfrxUSD was integrated on Synnax as collateral. Users can mint and loop syUSD against sfrxUSD collateral at no cost and also earn 20x SynXP.
[WisdomTree] Integration with WisdomTree’s WGTXX asset is now complete and is now one of the collateral tokens for frxUSD.
Tech
[Flox / FXTL] Routine farm tracking labor. FloxCapacitor and FloxConverter work.
[Fraxtal] OP Isthmus upgrade prep work.
[Fraxlend] ReUSD pair work. FraxNet code. sfrxUSD oracle improvements.
[FXBs] Per FIP-430, almost finished with Fraxtal FXB upgrade (frxUSD → Legacy Frax Dollar underlying). Code and tests almost finished; will need to audit. Also worked on updated FXB AMO and code (factory and FXB token impls) for new FXBs (post FIP-430 upgrade).
[Multichain / LayerZero] DVN deployment work. Prepare Ethereum WFRAX lockbox migration.
[sfrxUSD2] Per FIP-430, sfrxUSD will be changed from a traditional ERC-4626 token to a vault-style token. Finished code, and tests; will need to audit.
Others
None for past 2 weeks.
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.