Frax in Review - Jan 30 2023
Sam Kazemian drops some alpha on Blockcrunch podcast
This past week, Sam K went on the Blockcrunch podcast and spoke at length on what’s happening in Frax and what to expect for 2023. The big takeaway is that Frax is a protocol that issues currencies; it doesn’t really matter what currency, FRAX, FrxETH, FrxBTC (yes he confirmed that it’s coming), Frax is designed and equipped to create the most efficient ‘stablecoins’ in crypto. More so, it’s not just about one or two products, the whole design space is geared towards a holistic approach that covers all aspects of the stack, lending, leverage, and liquidity.
Some of the other alpha he dropped was that the CR would definitely be going to 100% in 2023 (there’s different variations on what this means of course), FrxETH base pool is ‘SoonTM’, and Frax FMA is proceeding.
A great interview that is worth the listen - LINK
FraxFerry to Moonriver is live (finally)
In what turned out to be one of the weirdest situations in the protocol’s history, a run-of-the-mill Fraxferry vote that took place right before the New Year was voted down with just a few votes. We chalk it up to the holidays and bad timing for the eager Moonriver Frax holders to get access to liquidity again.
This week the snapshot for the revote passed last weekand today Fraxferry for Moonriver was launched. Great to see this all figured out and governance doing its job.
C2tP discusses the cvxFXS peg
In the recent run-up, the cvxFXS peg has come off to a 25% discount. This has been worrying to a lot of holders and they have been asking in chat if anything would be done. C2tP is aware of the issue and is planning to propose a few changes to help bring the peg back. These include 1.) vlCVX rewards switching to pure FXS 2.) Single sided staking.
Indexcoop launched a LSD index and Frax didn’t make the cut (yet)
Fair statements from the index coop team. Post-Shanghai we should be added once the keys are decentralized and more clients are added.
Bankless finally aboard the Frax train
Better late than never, but the Bankless team has finally started to highlight Frax positively, with FXS earning a “Trending Project” rating with 3 flames (so hot right now). We love the team as they are the hardest working ETH maxis in crypto.
Stiive had some interesting ideas about how to use FrxETH in Fraxlend
Sam replied in turn:
Best of Sam K
Best of socials/content
All roads lead to Frax