FRAX FINANCE BIWEEKLY PROJECT UPDATE - #33
Week ending 02/28/2025
What We Did
Events / Media
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
[Aerodrome] frxUSD was integrated as a connector token on Aerodrome, making frxUSD a first-class stable pair for routing and productive liquidity on Aero.
[EtherFi] frxUSD was integrated into EtherFi. Users will now be able to spend frxUSD with the EtherFi credit card.
[Hydrex] Hydrex (on Base) collaborated with Frax to source sustainable liquidity across regional stables and power forex markets.
[Scale] frxUSD was integrated as the default stablecoin on Scale.farm (Base network).
[Term Labs] The frxUSD PegKeeper pool with Term Labs' tmvUSDC went live on Curve Finance.
Tech
[Fraxtal]
Fraxtal testnet native token work progressed: deployment scripting for the native token implementation and subsequent testnet native token upgrades.
[FraxNet]
Added/expanded embedded branded-stablecoin widgets.
Audit close-out for the branded-stablecoin scope, including merges of branded-stablecoin PRs and related Odos router changes.
[frxUSD]
Tested mockFRAX + mockFraxUSD bridging between Tempo mainnet and Fraxtal.
Seeded liquidity via Tempo precompiles (feeAMM + StablecoinDEX) so mockFraxUSD TIP20 can be used as gas for normal transactions and bridge flows.
[Multichain / LayerZero]
Started and advanced deterministic (CREATE2-style) deployment work for cross-chain components:
Began “predeterministic” HopV2 deployment work and produced/updated HopV2 docs.
Refactored OFT deployment scripts toward deterministic deployments.
HopV2 rollout reached broad coverage (deployed across ~90% of chains).
LayerZero / Tempo work progressed:
Deployed Frax DVN for Tempo testnet (Moderato) and Tempo mainnet (Presto).
Built/refactored RemoteHopV2 for Tempo (testnet + mainnet), including support for TIP20 gas and alignment with recent LayerZero endpoint changes (EndpointAlt / LZEndpointDollar).
Tempo contracts were brought to production readiness.
Reviewed/processed Sei-related fixes impacting multichain behavior. Fraxtal Sei-related enforcement adjustments to align with Sei governance proposal 109.
[Other]
General audit remediation (fixes + resolution work).
TransferWithMemo EIP research.
Miscellaneous documentation, contract maintenance, and code reviews.
Cross-org PR merge/cleanup work.
Deployment tooling improvements (e.g., pulling deployment key material from GCS and standardizing deterministic deployment flows).
Other
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.