This Week in Frax - November 24, 2023

Metronome Smart Farming Wrap-up

It's been a great ride covering Smart Farming for the last 6 weeks. We've seen some impressive APR's and opportunities for FRAX leveraged yield. We're wrapping up this adventure with a guide to how to use Smart Farming.

Frax, Short for Fractional or Fractal 🤔

All-weather stablecoins for all-market conditions ⛈️🌦️☀️

There's always yield somewhere with $FRAX, $frxETH, and $FPI 🤑

It's why @fraxfinance lives up to being a 'fractal' of all of DeFi 🏦
— DeFi Dave (¤,¤) 🌸 (@DeFiDave22) November 24, 2023

It's Oh So Quiet... For Now 😏

Something Something Fraxchain Soon™️

Travis deployed FraxChainPortal.sol and FraxchainFrxEthMinter.sol to the Github repo this week. You can read about it this week in Cryptovestor's Alpha Corner.

Imitation is the Highest Form of Flattery

Introducing Blast: The only Ethereum L2 with native yield for ETH and stablecoins.

We’ve raised $20m from @Paradigm and @StandardCrypto to build the L2 that helps you earn more.

Details on how to get early access at the end of the thread👇 pic.twitter.com/AYYmK8YFx4
— Blast (@Blast_L2) November 20, 2023

All aboard the Stablecoin Maximalism train! Blast announced the upcoming launch of their L2, which their main selling point is that they will swap stables into sDAI and ETH into stETH. They will then automatically rebase the underlying on-chain with the earned yield. Long time Flywheel readers will know that this is a core feature of Frax and an upcoming part of Fraxchain, to be launched in January 2024.

Be wary of Blast though, the "deposit" contract is actually a 3/5 multi-sig with unknown signers and a non-verified contract.

Let me say this in no uncertain terms:

If you are depositing money into @Blast_L2

which is not, in fact, an L2

and is owned by a 3/5 anon multisig which can steal every penny whenever it wants

then you deserve to lose your money.

Again - you DESERVE to lose your money.
— Chris Blec (@ChrisBlec) November 23, 2023

Opportunities

Big Bribes on Thena Exchange

Welcome two new concentrated liquidity pools on #BNB, co-incentivized with @fraxfinance

🦇 $BTC / $FRAX Narrow
🔊 $ETH / $FRAX Narrow

Managed by @GammaStrategies + CLAMM from @CryptoAlgebra. Enjoy! pic.twitter.com/seuHQGwRQZ
— THENA (@ThenaFi_) November 23, 2023

Not only are fees printing, there are also new pools incoming to @ThenaFi_ next epoch! $BTCB - $FRAX $1k bribe in $THE $ETH - $FRAX $1k bribe in $THE @fraxfinance pic.twitter.com/vuL4TBk52W
— GBHK 藍章魚 (@GBHK) November 22, 2023

Beefy Autocompounding of Prisma Farms

Now autocompounding: The end game for liquid staking tokens, @PrismaFi.

🆕 $PRISMA - $ETH: 1010% APY
🆕 $mkUSD / $FRAX / $USDC: 37% APY
🆕 $mkUSD - $crvUSD: 37% APYhttps://t.co/Ux6TDoDp1P The end game for the end game.@curvefinance @fraxfinance #ethereum pic.twitter.com/6qeuRMiVKF
— Beefy (@beefyfinance) November 23, 2023

Vesper Yields Near 17% for FRAX

📣 Yield Update

The FRAX pool on @VesperFi is currently at almost 17%!

Jump in at 👇https://t.co/9GJZ35ft6F @fraxfinance
— Vesper Finance (@VesperFi) November 23, 2023

Lodestar STIP Yields

🧡💙 Epoch 13 is in, and we have some juicy deposit and borrow APRs incentivised with the $ARB STIP grant on https://t.co/B9zQzMHGxn

⛵️ Be included in both weekly random snapshots and earn your share of the 50,892 $ARB weekly incentives !

🏦Let's start with the deposits: pic.twitter.com/Mkce8xaeUa
— Lodestar Finance | Backup Account (@lodestarbackup) November 22, 2023

Zeta Offers FRAX borrowing

Borrow native $BTC and $FRAX on @zetablockchain

Excited to unveil our updated design to you soon! pic.twitter.com/JkHbKgFUVn
— LENX (¤,X) | BTC-focused Stablecoin & Lending (@LENX_Finance) November 24, 2023

Best of Twitter

Foxi With the FXS Alpha

It doesn’t take much work to earn money, cuz I did the work for you.

Blast may give you excitement, but $FXS brings lasting wealth.

In just 5 months, you'll be grateful you read this thread today.

Why & What's the best time to buy FXS? 0/14🧵 pic.twitter.com/bcmVBtxP3A
— Foxi.eth 🦊 (@Foxi_xyz) November 24, 2023

We like their charts :)

sfrxETH Holders Take the Survey

ETHEREUM PEEPS.
If you stake your $ETH with Lido, Frax or Rocket Pool - or you run your own node... then please share your experiences in this anonymous <5min survey https://t.co/BaZHDi74UH (leave an email address if you'd like to be invited to a paid interview, totes optional).
— Georgia Rakusen | OpenUX (@G_Rak) November 20, 2023

DolaK1ng With a Summary of Frax

Frax finance is one of the biggest project that might lead the next bull season

Ranging from it core utilities which no project has ever created in history!

Here's a simplified breakdown of Frax V2 & why you should keep them on your radar

A 🧵 pic.twitter.com/yaafRCUV4O
— DOLAK1NG (@DOLAK1NG) November 23, 2023

Navy Bull-Posting

So, @fraxfinance has the highest yielding $ETH LST, has a $672 mill market cap stablecoin $FRAX, an inflation resistant $FPI token, a yield-bearing stable $sFRAX, tokenized treasury value accrual via $FXB, a lending market, an AMO, a secure bridge and is soon to launch its own… pic.twitter.com/lOBwVgYCjI
— naly (@defi_naly) November 22, 2023

Crypto Gideon Longs FXS

Longed $FXS with 2x📈

Thesis:

✅ Halving on Dec 20th
✅ Every year it pulled 3-4x
✅ $BTC ETF approval in January
✅ Frax chain testnet in December
✅ Bottomed chart, max downside -30%

IMO the safest 2-6x trade in the market right now💰

Shared in my FT group first🤝 https://t.co/5IO8NAnPpL pic.twitter.com/purr53mGze
— Crypto Gideon🦇🔊 (@CryptoGideon_) November 22, 2023

ModernTrader Picks FXS

My Liquid Staking Project Pick

Frax Share (FXS) 🚀

NAFA & DYOR

I Am Sharing My Picks Just Because My Community Members Asking Me To Reveal What Am I Holding & Buying

More To Come

🩷 & 🔁 pic.twitter.com/iF7c9cPSa9
— ModernTrader.lens (🌸, 🌿) (@ModernTrader21) November 22, 2023