Discover and read the best of Twitter Threads about #FraxLend

Most recents (3)

The founder of #Curvefi exchanged 800K $LDO ($1.33M), 565,579 $USDT and 1.3M $DOLA for 3.2M $FRAX in the past 6 hours.

Then repay 3.2M $FRAX on #Fraxlend to improve health rate.

He deposited 431M $CRV ($246M) in total and borrowed $101.5M of stablecoins on multiple platforms. Image
Deposited 288.4M $CRV($166M) and borrowed 63.44M $USDT on #Aave;

Deposited 79.4M $CRV($45.65M) and borrowed 20.5M $MIM on #Abracadabra;

Deposited 46.65M $CRV($26.82M) and borrowed 12.86M $FRAX on #Fraxlend;

Deposited 16M $CRV($9.27M) and borrowed 4.68M $DOLA on #Inverse. ImageImageImageImage
Read 3 tweets
Last month, @fraxfinance launched their liquid staking service and related token $frxETH

A thread 🧵to talk about $frxETH, and why I think it goona be the biggest challenger for Lido and $stETH 👇

Keep reading!
(1)
Let me introduced the mechanism of $frxETH first.

Users can deposit their ETH into the validator ran by frax finance and mint $frxETH.

Different with Lido’s stETH rebase mechanism, $frxETH is constant and holding $frxETH cannot generate yield Image
(2)
Two choice for users to earning rewards

First. Staking $frxETH to mint sfrxETH. sfrxETH is ERC-4626 vault and accumulates staking yield of Frax ETH validators.

The rates of frxETH:sfrxETH is changeable, holders will earn reward when redeem frxETH back.

Curreny APY is 4.72%
Read 12 tweets
Now that $UST has de-pegged, collateralization looks as important as event.

A 🧵on the synergies between over-collateralized and algorithmic stables to achieve:

- better security
- more sustainability
- incentives alignment
- better margins
- scale
To start off, I think we can agree on the fact that the cryptocurrency market, broadly, needs to lvl up its game on stable's design if it wants to come up with an 🧠 alternative to the current centralized FIAT regime, which is imposed by force and headed to a devaluation💀spiral.
@ this point I think everybody gets why $UST has been such a terrible example of instability, we have to admit though, that it did scale, even though it wasn't a sustainable model.
Objectively this has a lot to do with both $LUNA appreciating in value and Anchor's 20% yeld.
Read 28 tweets

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