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Let me provide a guide on $frxETH staking and explain why it's going to be the most attractive liquid staking derivative around.
@fraxfinance recently opened up the minting of $frxETH here: app.frax.finance/frxeth/mint
This allows you to stake your $ETH into a Validator ran by Frax.
@fraxfinance recently opened up the minting of $frxETH here: app.frax.finance/frxeth/mint
This allows you to stake your $ETH into a Validator ran by Frax.
Once you've minted your $frxETH you can stake it and receive #sfrxETH.
sfrxETH represents the staked frxETH + yield accrued. This means that over time, the underlying value of sfrxETH keeps increasing.
sfrxETH represents the staked frxETH + yield accrued. This means that over time, the underlying value of sfrxETH keeps increasing.
To put this into an example:
If APR were to be a consistent 8%, then after staking 1 sfrxeth for 1 full year, you'd be able to swap back your 1 sfrxETH for 1.08 $frxETH.
If APR were to be a consistent 8%, then after staking 1 sfrxeth for 1 full year, you'd be able to swap back your 1 sfrxETH for 1.08 $frxETH.
