This Week in Frax
sfrxETH yields #1, restarting FXS buybacks, FXS down only, Anthias liquidation dashboard
High gas fees raise sfrxETH yields above 9%
Due to the epoch lag, the APYs for frxETH were not #1 for a few days, but now the new rewards have been posted and we are back on top.
sfrxETH has the highest APR relative to its TVL. Expect this to continue as we expand towards 10 million.
Sam K talks restarting buybacks
Sam K thinks FXS is “undervalued” and that once we achieve 100% CR we should resrtart buybacks and potentially start burning FXS again.
FXS Downside Movements
FXS has been getting pummeled this week, with it breaking down to $5. Thursday’s 13% sell off is one of the largest downward moves since last year, with only 8 other days beating it.
Sifu buys $250k of FXS
Time/Wonderland dev and former Quadriga co-founder Sifu aka Michael Patryn was discovered by on-chain sleuths to have bought $250k of FXS on Thursday.
Anthias wants to build a liquidation dashboard for Fraxlend
The Anthias team is proposing a grant to build a Fraxlend-specific liquidation health dashboard for the Fraxlend borrowing and lending market. This analytics dashboard will exist for the Fraxlend community, enabling stakeholders within the Fraxlend borrowing & lending ecosystem to manage liquidation cascade risk and more.
While we already have some insight into liquidations with Fraxlend, this would provide additional functionality. Charlie Ambrose came to TG to answer a few of the communities questions.
Best of Telegram
Drake is working on some new Fraxlend pairs…. maybe on Arbitrum?
FrxETH/BinanceETH LP coming to Curve???
Sam K thinks crvUSD is going to be super bullish for Frax.
Sam K talks about Fraxchain
Sam K explains why we don’t have a frxETH Chainlink price feed yet
A potential new fraxlend pair
Give us that hopium
Sam K explains why sfrxETH was chosen as the first collateral type for Curve
Best of Twitter