What We Did
Events / Media
None for the past 2 weeks.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
None for the past 2 weeks.
Partnerships / External Integrations
[Compound Finance] Users can now use sFRAX as collateral to borrow USDT. Link.
[Ethena Labs] FRAX/USDe and FRAX/sUSDe pools were launched on Fraxtal Curve Finance. Users can bridge their Ethena assets to Fraxtal using Stargate Finance.
[Kado] Kado integrated on Fraxtal chain. Users will be able to buy FRAX on Fraxtal using cards, bank transfers and Apple/ Google Pay using Kado.
[Primex Finance] Primex Finance, a spot leverage trading and yield farming protocol added the support of FRAX, frxETH, sfrxETH, and FXS. Lenders will be able to supply these tokens to Primex Credit Buckets for additional rewards and Traders can also borrow them to trade on the spot market with leverage. Additionally, farmers can leverage their positions with sfrxETH to amplify their staking rewards with up to 11x leverage resulting in impressive ~36% APY on initial capital. Primex Finance app.
Tech
[BAMM] zaps and wrapper. Still dealing with audit.
[Flox/FXTL] LlamaLend & Karak fixes. BAMM farm prep. Finalize Layer3 quests.
[Fraxtal] Fraxtal chain reached $200M TVL according to L2beat report.
[Fraxtal LZCurveAMO] Provide bridging liquidity so that users who bridge to Fraxtal via LayerZero can exit into the Fraxtal-native respective asset. Contracts currently in draft state. More specs here.
[Fraxlend] Leverage update and UI work for that. Fraxlend AMO addition to Frax Facts.
[frxBTC] Client code and test coverage. Testnet4.
[frxETH V2] Finishing up UI. Testing more on Holesky.
[North Star Hardfork] Research.
About Frax
Frax currently issues 3 stablecoins: FRAX, 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.