What We Did
Events / Media
[Token2049] The recap of the Token2049 conference was released by Westwood, the community lead where Sam Kazemian, Frax Finance co-founder shared key insights into the future of stablecoins and Frax’s role in decentralized finance. You can read the recap here.
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
[Aave AMO] The Aave AMO was seeded with 5M FRAX for the Aave V3 EtherFi Ethereum pool.
[Curve/Llama Lend] crvUSD/FXS, crvUSD/sFRAX, and crvUSD/sfrxETH borrow pairs live on Fraxtal. crvUSD/sFRAX on Ethereum. More info about Curve’s LLAMA (Lending Liquidating Automated Market Maker Algorithm) tech here.
[Fraxtal Ecosystem] Native re-staking functionality and Distributed Secure Services (DSS) was introduced by Karak Network for the Frax Finance ecosystem on Fraxtal. The re-staking functionality and Distributed Secure Services will help to grow Fraxtal ecosystem, allow the users to provide native utility and and receive incentives and also help the developers to provide native infrastructure that helps support and secure large-scale applications.
[Ionic] FRAX, wfrxETH, and FXS live on Ionic for Fraxtal. Ionic is the #1 money market for Yield Bearing Assets on the OP Superchain. Read more about them here.
[Ref Finance] Ref Finance and Frax Finance collaborated to launch the FRAX/sFRAX stable pool on Ref Finance’s protocol. Users can bridge their FRAX-sFRAX to NEAR Protocol using Rainbow Bridge and add liquidity to the pool and start earning rewards.
[Symbiotic] Per FIP-407, 1M FXS was allocated to Symbiotic to generate extra protocol yield.
[Theo Network] Frax Finance and Theo Network collaborated to launch FRAX's stablecoin as a viable collateral in Theo smart accounts. Additionally, Theo network will integrate on Fraxtal chain to allow for cross chain actions from and to, including swaps and credit issuance.
[Voting] Per FIP-408, voting via Snapshot has now been moved to Fraxtal.
Tech
[BAMM] Worked on BAMM AMO, BAMMcentives, BAMM UI, and the arbitrage bot. Documentation. ETA Mid October.
[Documentation] Cleaned up / organized the Frax documentation site. Removed or noted old information. Also removed many language sites with old information. Added important addresses. Todo: more guides and FAQ.
[Flox / FXTL] Multi-threaded farm snapshot script, QuestTracker, FNS quests. Layer 3 quests.
[Fraxlend] Extended liquidator bot for sFRAX/DOLA, sFRAX/USDC, and sFRAX/AUSD (Ethereum) as well as sFRAX/USDC (Fraxtal).
[frxBTC] Solidity code and pubkey derivation. Also: withdrawal flow, coverage, and draft client script.
[frxETH V2] Worked on Ether Router and Redemption Queue monitoring. Mainnet capped launch ETA mid-October. Max 10 validators, mostly Frax ecosystem owned to limit risk. Will remove cap after 2-3 weeks of monitoring assuming all goes well.
[Frax Oracle] Improved hosting for oracles. Gas monitoring client.
[Infrastructure] Improved indexing for Flox farm tracking. Routine upgrades, security and maintenance.
[TRON] Improved backend API handling for TRON.
[UI] Flox Quests design and implementation. Misc small fixes and cronjobs. BAMM.
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.