This Week in Frax - April 12, 2024

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

1. End of an Era
2. StableScarab Predicts FLOX Will Help Fraxtal Hit the Top 5
3. Fraxlend Sees Fresh Round of Liquidations
4. Frax Deploys to Metis
5. Frax Partners with BaseSwap
6. Sam Kazemian Goes on Bankless
7. Fraxtal Tops Chart for New TVL
8. Governance

Earn 20% extra Kelp Miles (along w/ Eigen Points) using our link 🧜‍♂️

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

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

Frax Partners with BaseSwap

Sam Kazemian Goes on Bankless

Fraxtal Tops Chart for New TVL

Governance

Discussion

• [FIP - 3XX] Shut down Convex rETH/frxETH for an 8,300 FRAX fee
• Establish The Frax Meme Collective

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 )

Passed

• [FIP - 344,345] Add a new markets into Fraxlend on Ethereum (ezETH/frxETH, rsETH/frxETH)

Failed

• [FIP - 342] Ragequit rETH/frxETH with a 4% fee
• [FIP - 343] Unlock staked XAIFRAXBP3CRV-f due to XAI sunsetting