New Prisma Bribing Coming Soon™
![](https://ghost.flywheeldefi.com/content/images/2023/11/Screenshot-2023-11-30-at-1.00.52-PM.png)
BanklessDAO
This week we saw a huge reaction to BanklessDAO requesting 1.82m ARB on CT. DeFiDave wrote a great response to the situation on the difficulties of growing a media company and why we should be more levelheaded on the situation.
I speak from experience as someone who has supported their media and education endeavors with DAO grant funds.
— DeFi Dave (¤,¤) 🌸 (@DeFiDave22) November 26, 2023
When I started @FlywheelDeFi with @0xkapital_k and @traders_insight in June 2022, I often called it the “Bankless of Frax.” The fall of TerraLuna made decentralized…
Read Dave's full post we published this week:
![](https://ghost.flywheeldefi.com/content/images/2023/11/herat-bull-22.jpg)
Adding sfrxETH to Aave
Aave is planning to add our staked ETH product to Aave v3 soon
![](https://europe1.discourse-cdn.com/business20/uploads/aave/original/1X/2ada312765106aec8e237bb1f628fd38e403069c.jpeg)
Chaos Labs recommended the following parameters for the new pair. 40k supply cap, max 77% LTV, and up to 4k sfrxETH borrowable.
![](https://ghost.flywheeldefi.com/content/images/2023/12/Screenshot-2023-12-01-at-2.33.53-PM.png)
In response to ChaosLabs post, Sam K wrote the following on their forums:
![](https://ghost.flywheeldefi.com/content/images/2023/12/Screenshot-2023-12-01-at-2.35.14-PM.png)
Sam Kazemian said that while the current setup for sfrxETH is centralized, its not much different than other LSDs like Lido's stETH and Rocket Pool's rETH, which also has a multi-signature system for governance. Only the Frax Core Devs are on the m-sig, unlike Lido's broader whitelist. Full on-chain governance is coming with v2, eliminating multi-signature trust dependencies.
He also talked about our validator performance, claiming it has the best record compared to major LSDs, based on independent evaluations seen at rated.network. One thing that ChaoLabs missed was that sfrxETH's liquidity is higher than reported due to unaccounted frxETH liquidity on Curve.
Frax Registrar Moving to MarkMonitor
After the Registrar hijack on Name.com this past month, the team decided to increase security so the issue wouldn't happen again. Travis wrote:
We are moving a lot of domains to MarkMonitor. Google, Amazon, Microsoft, and a bunch of other big companies use them. You can have a customized procedure "e.g. secret spoken passphrase + 2 people on a zoom call only on a Monday morning" to change stuff, which is nice
ETH Redemptions Live!
![](https://ghost.flywheeldefi.com/content/images/2023/11/telegram-cloud-photo-size-1-5121127521679682403-y.jpg)
Huge news! Travis posted that we "can now natively redeem your frxETH, in addition to the current method of selling the frxETH into Curve. You will get 1-to-1 ETH for frxETH with this new method, but now you must wait some time, depending on the entry and exit queue lengths."
$frxETH can now be natively redeemed.🔥
— Grills (¤,¤) 🦇🔊🐻⛓️ (@CryptoGrills) November 25, 2023
People were always able to swap on the $frxETH/ $ETH curve pool, but larger whales were asking for a direct redeem function as well. It's live now.
Meanwhile frxETH supply climbing to 300K ETH staked soon. 🌚https://t.co/6Q5FhF1d52 $FXS pic.twitter.com/zpxierYexO
Here are the details for redeeming frxETH directly.
UI: https://app.frax.finance/frxeth/redeem
Contract: https://etherscan.io/address/0x82bA8da44Cd5261762e629dd5c605b17715727bd
Docs: https://docs.frax.finance/frax-ether/redemption
Update on Wajahat's UI Update
![](https://ghost.flywheeldefi.com/content/images/2023/11/Screenshot-2023-11-30-at-1.02.42-PM.png)
Cryptovestor Goes on the Edge Podcast
Opportunities
⛵️ Lodestar crew ! Our rates have been updated to reflect the emission gauge epoch 14, a perfect time for our weekly recap !
— Lodestar Finance | Backup Account (@lodestarbackup) November 27, 2023
💙🧡 Hold your position and be included in both our random snapshots to earn your share of the 50,892 $ARB tokens from the #Arbitrum STIP !
👇 pic.twitter.com/jjPybSj9zm
📣 Looking for good stable yields?
— Alchemix (@AlchemixFi) November 28, 2023
Our @VesperFi & @aave @fraxfinance mainnet vaults are sporting some really nice APRs!
1️⃣ Deposit $FRAX
2️⃣ Borrow up to 50% of your deposit value straight away
3️⃣ Continue to earn interest on your FULL deposit 🔥
Check out our /vaults page pic.twitter.com/NZjMWkMTo8
Twitter Threads
The Curve AMO is an integral part of the @fraxfinance ecosystem and helps ensure the $FRAX peg stays tight around $1. It also accrues tremendous value to the protocol.
— imajinl (exit, liquidity) 🦇🔊 (@imajinl) November 28, 2023
But do you understand how it works?
With AI having the greatest room for Imagination & innovation in the crypto space 🤖
— Poopman (ve 💩, 🌿) (@poopmandefi) November 24, 2023
Picking those that have unique value proposition help you to stay on top of the game.
I will save your time by filtering 15 Ai projects with different risk level that stand out from the rest 🧵 pic.twitter.com/DhZ0ZkVK81
Smart Money buying these tokens - from @nansen_ai pic.twitter.com/TW94cCe59L
— Alex Svanevik 🐧 (@ASvanevik) November 26, 2023