A week since Frax v3 was announced, and the response was off the charts
Only a week ago today, Sam Kazemian dropped a new FIP to onboard FinresPBC as Frax’s first RWA partner. And the response was super positive.
Last week we had on Jon Walch who introduced FrxGov to the world. Well over the next week the governance module was deployed to main net and just yesterday Jon posted that the governance docs were updated and live. Go give them a read.
Sam Kazemian Drops Alpha on Frax v3 FraxBonds and more in Flywheel spaces
Our hourlong interview with Sam K was jam packed with alpha. We discussed every part of Frax and how it would be impacted by Frax v3. If you haven’t watched the interview yet, we uploaded it to Youtube for you.
The biggest alpha leak was surrounding FraxBonds, a product which had originally been named in 2021, but did not have the infrastructure to support it at the time. FraxBonds (FXB) will be a huge part of Frax v3 and will bring the yield curve on-chain for the first time.
Sam spent a load of time answering questions about FXB this week and we’re going to do a round up for our Monday post.
PayPal Joins the Stablecoin Fun
The second most interesting story for the week was PayPal introducing its stablecoin PYUSD. We covered its launch on Monday and wrote how Frax would be creating a new basepool in Curve for it.
Frax Discord Was Hacked
Welp. Someone clicked the wrong link and the Frax Discord was hacked. Some people didn’t even know Frax had a Discord, but unfortunately a few users clicked the exploiters fake airdrop link and lost funds.
Federal Reserve Says Banks Can Issue Stablecoins (Kinda)
The Fed issued two letters this week that potentially will allow banks to issue stablecoins and get exposure to DeFi and crypto (a big maybe). While the text is unclear on how it will be implemented, Sam K gave his thoughts in Telegram on it.
frxETH Curve AMO Liquidity Was Called Into Question
When Frax pulled their liquidity during the Curve exploit, a lot of people started to question the imbalances. Crypto research firm ASXN gave them a good lesson on how the Curve AMO’s work on X.
Frax Finance Releases Their Monthly Report
Go read the official monthly report from Frax. Lots of good info and updates.
rETH Got Lucky This Week From Curve Exploit
Frax Dorahacks Hackathon Winners Announced
We announced the winners of the Dorahacks Hackathon this week. So many great submissions and teams took part. Go review the results to see the winners.
This week’s podcast guest was PaperImperium who walked us through the MakerDAO ecosystem and politics. We also talked with him about the newly announced Frax v3 and his thoughts on it.
Taiki covers FRAXPY basepool
Sam Kazemian Interview on Leviathan News
Sam K Interview on UnChained Podcast
Laura Shin invited Sam K on to talk the Curve exploit and Frax’s response to it.