This Week in Frax - December 15, 2023

Samuel McCulloch
Samuel McCulloch
Dec 15, 2023
This Week in Frax - December 15, 2023

Yield of the Week - Premia Option Vaults

Premia has some great high APR STIP incentivized vaults open for FXS and FRAX deposits. By depositing FXS or FRAX, you can earn 125% or 84% respectively. To learn how to get access to the yields, read our guide we wrote this week to accompany our Premia interview.

How Premia is Simplifying Options On-Chain w/ DK and vxCozy - Flywheel #82
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Flywheel's SubDAO

This week, DeFiDave wrote an interesting thought piece on how Flywheel could take a role as a subDAO in the Frax ecosystem. Frax is building an Empire and Flywheel intends to be a legion of it. Give it a read, let us know your thoughts.


Fraxchain airdrop was not on our Bingo card for this week

Nothing is confirmed. But lots of πŸ‘€ and πŸ’― reactions from Sam this week on a multitude of TG messages shows the team is internally discussing potential incentive structures for the launch of Fraxchain.

We're guessing it might have to do with operating the sequencers, but again, it's all speculation at this point. But an airdrop for Fraxchain could create a significant buzz and TVL drive into Fraxchain after it launches. We will keep our eyes posted for more information as it comes out.

Calling All Builders... Fraxchain Needs a Perp Dex!

Lots to unpack here. First, Sam K is openly calling for teams to come and build a Fraxchain focused perp dex. This would be supported by the protocol with incentives generated from Fraxchain, yet to be announced.

Second, Sam confirmed that Etherscan for Fraxchain is coming SoonTM and that we will be able to deploy and verify contracts in the near future. We're early. Keep testing, and it's less than 1 month to go for Fraxchain launch.

Triple Digit veFXS Yield?

Grills dropped some revenue numbers that had our eyes popping. Current veFXS is 0.8% right now, but once we hit 100% CR and the bull market really takes off, Frax revenues might 100x for veFXS, leading to double or even triple digit yields for veFXS.

veFXS growth has be stagnate since Feb 2022 when yields dropped to the low single digits. Since then, no major catalysts have driven investors to lock up their FXS for long periods of time. CR to 100 will hopefully change this dynamic and spur new locking of FXS for yield. We are ready.

Fraxchain's Modular Future

BAMM Will Phase Out FraxSwap

Abritrum STIP Rewards Are Sky High

Yields for the Convex Arbitrum pairs are high through Frax staking. Right now you can stake ConvexFRAXBP for 50% max boost and ConvexfrxETH/WETH for 123%!

These yields will last into early next year, so take part in the incentive program while you have time.

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