This Week in Frax - April 5, 2024

Samuel McCulloch
Samuel McCulloch
Apr 5, 2024
This Week in Frax - April 5, 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. Fee Switch Activated!
  2. Frax Deploys on Cosmos
  3. Coingecko Highlights sfrxETH
  4. Alchemy Offers Account Abstraction on Fraxtal
  5. Conic Adds Frax Ominpools
  6. Frax Now Available on Blast
  7. Governance

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Fee Switch Activated!

After more than 2 years, Frax has turned the fee switch back on! $400k was added to the distribution contract for veFXS, marking one of the highest payout periods in Frax's existence.

Turning the fee switch back on now adds a new layer of value to FXS. Hopefully we start to see new FXS locked as veFXS over the coming months and also the Convex peg returning to 1:1.

Based on other protocol's, FXS most likely will experience positive price adjustments now that it's yielding. At current rates this is 13.35% with a max lock, and given that Frax is about to add $250m of FRAX to Ethena's sUSDe, this figure might double. Exciting times ahead.

Frax Deploys on Cosmos

Frax and Noble are teaming up to deploy into the Cosmos ecosystem. This collaboration will bring FRAX and sFRAX across to the Cosmos network, comprising more than 80 interconnected blockchains. Noble is also the issuer of USDC within Cosmos and will now host Frax's stablecoin offerings natively.

Coingecko Highlights sfrxETH

Alchemy Offers Account Abstraction on Fraxtal

Conic Adds Frax Ominpools

Frax Now Available on Blast


A massive new AMO proposal from the Core Team dropped this week, as they have recommended a $250m cap for sUSDe and USDe LPs on Curve. This would be the two largest AMO's ever voted on in Frax's history and would potentially bring significant revenues to the protocol.




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