Welcome to Flywheel, the best place for Frax education, analysis and alpha. We write about Frax and its DeFi partners bringing you the most up to date info straight to your inbox.
What's in This Email
- End of an Era
- StableScarab Predicts FLOX Will Help Fraxtal Hit the Top 5
- Fraxlend Sees Fresh Round of Liquidations
- Frax Deploys to Metis
- Frax Partners with BaseSwap
- Sam Kazemian Goes on Bankless
- Fraxtal Tops Chart for New TVL
- Governance
Earn 20% extra Kelp Miles (along w/ Eigen Points) using our link ๐งโโ๏ธ
End of an Era
It's been fun while it lasted. This is Flywheel's final post with the current crew.
Over the last two years we've been grateful for your community support. We've championed Frax and its partners, helping educate and onboard.
We're still going to continue the podcast. Each week we will continue to bring you DeFi Dave and Kiet hosting the best interviews in crypto.
Thank you for your support.
StableScarab Predicts FLOX Will Help Fraxtal Hit the Top 5
1/ ๐๐น๐ผ๐ : ๐ ๐ก๐ฒ๐ ๐ฆ๐๐ฎ๐ป๐ฑ๐ฎ๐ฟ๐ฑ ๐ณ๐ผ๐ฟ ๐๐น๐ผ๐ฐ๐ธ๐๐ฝ๐ฎ๐ฐ๐ฒ ๐๐ป๐ฐ๐ฒ๐ป๐๐ถ๐๐ฒ๐ โ
โ StableScarab๐ชฒ(ยค,ยค) (@StableScarab) April 12, 2024
Flox is the heartbeat of Frax's new L2 Fraxtal which I believe can propel it to top 5 in L2 TVL within a year.
What is Flox and how can you maximize your rewards? ๐งต๐ pic.twitter.com/WZIb9G9obu
Fraxlend Sees Fresh Round of Liquidations
Today the price of FXS fell 25% as of writing. This rapid decline in price led to a large round of liquidations on Fraxlend.
More than $2m worth of FXS was liquidated as the price fell rapidly below 6.
Truly blood in the streets today. *salute_emoji
FXS has now retraced its entire move over the last 6 months, running up to a high of $10.85, then selling off 53% as of today's prices.
While this is not the outcome a lot of people wanted to see, the lower prices does allow Frax to repurchase more FXS using the TWAMM.
Frax Deploys to Metis
Let's give a warm @MetisL2 welcome to our new friends @fraxfinance !!! ยคโ๏ธยค#sfrxETH - $WETH 50/50 pool built on @Balancer tech is now open with nearly $4 million TVL ๐๐ฅ
โ Hummus Exchange (@hummusdefi) April 12, 2024
Rewards start soon
๐ https://t.co/y2n2UJ2FHz ๐ฅ๐ฟ$FRAX $HUM $veHUM pic.twitter.com/jkI21Hgfka
Frax Partners with BaseSwap
@BaseSwapDEX X @fraxfinance
โ BaseSwap๐ก๏ธ (@BaseSwapDex) April 12, 2024
We are delighted to announce our partnership with Frax Finance. A long standing Powerhouse in #DEFI
This partnership will open the doors to a variety of Frax assets to the @base Ecosystem.https://t.co/U2U7Ah3DpP
BaseSwap is not officiallyโฆ pic.twitter.com/mv7KAcjyxE
Sam Kazemian Goes on Bankless
LIVE NOW - Fraxtal: A Frax-Dedicated L2 w/ Sam Kazemian@samkazemian and the Frax world have always been one step ahead of the rest of the ecosystem
โ Bankless (@BanklessHQ) April 9, 2024
Frax is a decentralized central bank on Ethereum ๐ฆ
Today, @fraxfinance is entering its 3rd dimension of development -- buildingโฆ pic.twitter.com/OWXipknnCl
Fraxtal Tops Chart for New TVL
Deposits to @zksync up 8.2% over the past week ๐ pic.twitter.com/9ByizVFOMx
โ Token Terminal (@tokenterminal) April 9, 2024
Governance
Discussion
Voting
- [FIP - 346] Add zunETH/frxETH to FXS gauge controller
- [FIP - 347] Add Squid/wfrxETH to FXS gauge controller on Fraxtal
- [FIP - 348] Authorize Fraxlend AMO for new pairs ( sUSDe/FRAX )
- [FIP - 349] Authorize Fraxlend AMO for new pairs ( USDe/FRAX )
