What We Did
Events / Media
[Broadcast] Co-Founder Sam Kazemian was hosted by threadguy, where he discussed the GENIUS Act, decentralized stablecoins, Frax, and Fraxnet. You can listen for the full broadcast here.
Governance
Note: Does not include votes that did not meet quorum. Also, only ongoing and completed votes.
[FIP - 433] PASSED: The proposal seeks to introduce a new market into Fraxlend on Ethereum for OGN.
Partnerships / External Integrations
[Bedrock] Bedrock launched uniBTC / frxUSD and uniETH / frxETH pools on Curve Finance. Users can join the liquidity pool with their Frax assets on Curve Finance and earn rewards.
[Echo Market] Frax continued its collaboration with Echo Market to activate our community and boost content creation.
[Falcon Finance] Frax.com teamed up with Falcon Finance to launch a new frxUSD/USDf pool on Curve Finance with voting incentives on Stake DAO.
[Mellow Protocol] Frax interop vault was curated on Mellow Protocol which will allow Frax users to deposit FRAX on Fraxtal and earn crosschain yield and rewards from Symbiotic, Eigenlayer, Mellow Protocol and FXTL points.
[Omni Exchange] Frax.com became a launch partner for Omni Exchange, enabling liquidity incentives, emission voting and gauge support through $veOMNI from Day 1.
[OMYPayments] sfrxUSD was deployed on OMYPayments, a cryptocurrency payments processor powered by DeFi infrastructure which will allow businesses to seamlessly issue invoices, process bulk payouts, and accept global payments.
[Parallel Protocol] Parallel Protocol deployed on Fraxtal for faster transactions and cheaper yields.
Tech
[Flox / FXTL] FloxCapacitor, FloxConverter, and FraxStaker Certora audit nearly completed. Will need to do minor UI work for staking / showing weekly FXTL conversions. Added FXB2027, cvFXB2027, rstFRAX, and sdUSD farms to FXTL tracking. Yapper work.
[FraxNet] Stealth Alpha released to certain users and partners to discover any bug fixes and quality of life improvements. Remote Custodian work.
[Fraxlend] Misc small tweaks.
[Fraxtal] Isthmus hardfork (routine technical upgrade from Optimism).
[frxUSD / sfrxUSD] GENIUS compliance upgrades and ERC-1271/3009 support to be audited by Zellic on September 9th.
[Multichain / LayerZero] Linea CCTPV2 USDC. Persona -> Bridge API functions, Solana <> Ethereum DVN upgrade, OFT v1.1.0 upgrade. Soon to deploy to Aurora, Scroll, and HyperVM. Frax Gasolina hook sidecar. Worked on Frax DVN for Movement and Aptos.
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.