Gravita Adds sfrxETH - This week in Frax - Aug 25, 2023

Gravity adds sfrxETH, Frax's Barbell Strategy, Balancer at risk and a everything else that happened this Week in Frax.

Samuel McCulloch
Samuel McCulloch
Aug 25, 2023

Gravita Adds sfrxETH Interview with Rhett Shipp

DO YOU EVEN LIFT - Frax's Barbell Strategy

Fraxbonds & sfrxETH: The New Barbell Strategy?
While Frax Bull might be a master of the metal barbell, Frax soon might be the master of the investing barbell for Ethereum.

Balancer pools at risk!

multisig-ops/BIPs/00notGov/ at main · BalancerMaxis/multisig-ops
Contribute to BalancerMaxis/multisig-ops development by creating an account on GitHub.

Thor on FXB's

Jon on Convex price

Where to Find Single Sided FXS Yield

Where to Find Single-Sided FXS Yield 🤑
Looking to boost your FXS yields within the Frax ecosystem? Here’s a straightforward rundown of the top six platforms you need to check out.

Watch our Inteview with Jae from IQ Times

The Future of Real-Time AI is On-chain
Get the latest DeFi podcasts, newsletters, hackathons & IRL events straight to your inbox.

Groom Lake Interview Incoming

Sam Kazemian Q&A

FraxLend and Permissionless Pools:

Q: Any update on enabling permissionless pools for FraxLend?
Sam Kazemian:
A: We need reliable oracles for permissionless pools to work effectively. Deployers must be highly knowledgeable to set them up. It's important to clarify that Fraxlend isn't accountable for "bad debt" due to the way fTokens work. We believe BAMM is a better solution for long-tail assets as it doesn't require oracles and can't accumulate bad debt.

BAMM, FraxSwap, and FXBs:

Q: Will BAMM be a part of frax swap or is it a new product/dex?
Sam Kazemian:
A: BAMM will be integrated into a new version of Fraxswap with an entirely new architecture. It's akin to an upgrade from Uniswap v2 to v3.

Q: How does BAMM influence fxbs? Can they be swapped there? How does it affect fxbs in terms of liquidation mechanics?
Sam Kazemian:
A: FXBs can operate on both Fraxlend pairs and BAMM. We've devised a method for FXB to function on both BAMM and Fraxlend without the need for third-party oracles.

Q: I believe many want an efficient TWAP mechanism like TWAMM but might not trust it, especially for large transactions. How does it work for pairs that might not have significant reserves?
Sam Kazemian:
A: For large trades and shorter TWAMM durations, the pair should have significant depth. However, the existing pairs on Fraxswap, especially the FRAX-FXS pair, are suitable for TWAMMs.

Oracles and Stability:

Q: Can the oracle for crvusd be disabled or is it immutable?
Sam Kazemian:
A: Every stablecoin has mutable oracles and conditions. Believing a stablecoin is as immutable as assets like ETH or BTC is a misconception.

Q: Any updates on the sfrxeth oracle after the previous discussions?
Sam Kazemian:
A: We've developed our own oracle for sfrxETH aside from Chainlink. It's available in our docs for anyone wishing to integrate.

Curve's v3, Emissions, and Frax Strategy:

Q: With Curve's v3 and crv emissions decreasing, will Frax pay more for emissions to get votes for its pools?
Sam Kazemian:
A: Paying more in bribes than what's received in emissions doesn't make sense. Expansion of CRV and CVX prices will provide more incentives. As RWAs come online, Frax will have a larger budget for Curve incentives, likely boosting CRV and CVX prices.

Frax v3, KYC, and Real World Assets (RWA):

Q: Will Frax v3 require KYC?
Sam Kazemian:
A: No need for on-chain KYC. Regulatory procedures are handled by off-chain custodians.

Q: Some protocols with Real World Assets (RWA) require KYC.
Sam Kazemian:
A: FXBs don't provide off-chain assets or a right to redeem for fiat. They only assure conversion to one FRAX stablecoin at maturity. No KYC needed.

Frax Bonds and Staking:

Andrew Hitchcock:
Q: FXBs seem to have a time limit. Are there plans for FXB funds that auto-renew the bonds?
Sam Kazemian:
A: FXBs don't offer rights to off-chain assets. They convert into FRAX at maturity and have specific maturity dates.

Q: Can we stake frax in v3 to earn yield similar to staking Dai?
Sam Kazemian:
A: FXBs are like Maker's DSR. They're versatile, with potential options for short-term yields.

Q: How does one redeem frax from an FXB token?
Sam Kazemian:
A: The contract that creates FXBs also facilitates their redemption once the maturity timestamp is reached.

Interesting Links/Reads

Growth of Stablecoins

Inside the USD Blackmarkets of Argentina

Inside the crypto black markets of Argentina
Argentina’s black market for cash is embracing crypto — but it’s not what crypto proponents expected.

Eigenlayer raises the cap for sfrxETH

Bithumb lists FXS

No.1 가상자산 플랫폼, 빗썸 - Bithumb 카페
No.1 가상자산 플랫폼, 빗썸 - Bithumb 카페 사이트 입니다.

Rune's Got a Plan to Fix MakerDAO

Centre no more, Circle/Coinbase moving USDC issuance in-house

Ushering in the next chapter for USDC
USDC will be launching on 6 new blockchains between September and October, bringing multi-chain access of USDC up to 15 chains.

Merch Madness


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