“The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer.” The adage, known as Cunningham’s Law, is older than the internet itself with the French saying "prêcher le faux pour savoir le vrai" (‘preach the falsehood to know the truth’), but the message is still the same.
On a special episode, we had on Yearn dev Wavey0x who had a whirlwind of a week with his FrxETH threads so of course, we wanted to hear his side of the story. For those unfamiliar with the situation, Wavey0x took a meander into the FrxETH AMO and tweeted some conclusions, some of which that were less than accurate. Yet even in chaos, what was most striking to Wavey0x was how understanding the Frax community was and helpful we were in answering his questions.
Anybody who has been apart of Frax long enough knows that the protocol is a lot to digest and takes time, even for seasoned DeFi-vets, to fully understand how it works. Patience is a must and Wavey0x took the time he needed, going back drawing board to take an even deeper dive into how the FrxETH AMO worked. His new thread with his new conclusions explaining FrxETH in his own words was shared widely across Twitter and read tens of thousands of times.
Breaking down his work on our show, I even learned a few new things from Wavey’s findings. For example, right around the 14:07 mark, I asked Wavey to clarify how the FrxETH AMO makes a profit when the Curve Pool is inbalanced and his response is... well, I will leave that to his own words. If you are trying to wrap your head around FrxETH, this is one episode you can’t miss!