@fraxfinance@0xpibblez 2/ $FRAX supply currently sits at only 20% of DAI's supply. With new developments, FRAX demand could surge 400% before breaking even with DAI.
The value and revenue from this growth, of course, would flow to FXS holders
@fraxfinance@0xpibblez 3/ $FXS holders are currently voting on a $20M revenue-fueled buyback.
With a new TWAMM and FraxSwap, Frax stands to earn even more revenue via a 0.3% trading fee on all swaps.
FraxSwap is a permissionless treasury management tool for DeFi projects to conduct monetary policy
@fraxfinance@0xpibblez 4/ Frax introduced plans for real world asset lending AMOs through its new Fraxlend product, which is set to launch within 7 days.
This will serve as a new, composable primitive that permits both under-collateralized and over-collateralized loans for individuals and protocols
@fraxfinance@0xpibblez 5/ Frax's @curvefinance base pool is up for vote. With Frax providing 1/2 of the 3pool liquidity, a FRAXBP could shake up the state of stableswaps on Curve.
Protocols will gain capital efficiency, and Frax will become a supply sink for CRV
Frax's CVX holdings have proven to be beneficial in the recent Frax/CRV voting rounds
@fraxfinance@0xpibblez@CurveFinance@ConvexFinance 7/ Despite the UST meltdown, FRAX's collateralization ratio still sits at ~90% and the peg proved resilient, even with recent liquidation events across DeFi.
All developments will translate to more revenues for Frax and more fuel to benefit FXS holders @fraxbull1
DePIN is ripe to disrupt a range of traditional infrastructure networks.
Let's unpack how investors can best gain long-term exposure to the sector and where the opportunity lies in our latest report, free to read thanks to @POKTnetwork and @AIOZNetwork.
Have you ever wondered how workflows for processing transactions differ across L1 nodes and a shared decentralized sequencer?
@0x___Brick gives an overview of @EspressoSys' answer to the question👇🏼
1/ L1 Nodes
A set of L1 nodes has to agree on a sequence of transactions, subsequently executing the sequence.
This system has to function even if a subset of the L1 nodes are Byzantine faulty.
2/
In general, these nodes have to fulfill three distinct requirements:
・Consensus – guaranteeing an agreement of transaction ordering among all non-faulty nodes.
・Data broadcast – ensuring that the transaction data is broadcasted to every non-faulty node.
MakerDAO has faced headwinds in the form of a convoluted governance process, low value accrual to MKR, and non-differentiating DAI characteristics.
The protocol is now seeking to shake things up—enter Endgame.
@0x___Brick breaks down the roadmap👇🏼
1/ MakerDAO Governance
MakerDAO has experienced an identity crisis, with governance complexities ping-ponging between decentralized expansion and growth through a centralized, traditional corporate structure.
For an overview of MakerDAO's business model, see the thread below.
The protocol’s currently convoluted governance structure comprises over 100 improvement proposals, several of which are abandoned and inconsistent across each other, with essential information spread out across several sources.
The Curve Finance founder, Michael Egorov, is swimming in some deep water.
He's facing liquidation on ~$85M worth of loans, which could cascade across the whole DeFi ecosystem.
Hold onto your horses, @0x___Brick breaks down what is happening 🧵
1/ All of this started with Curve being exploited on Jul 30.
Almost $65M worth of tokens were drained, although some of these tokens were obtained by whitehat hackers and MEV bots, meaning that at least some of the funds have been recovered.
2/ Naturally, this led to the CRV price plummeting, which is a problem for Egorov.
Here's exactly why:
The Curve team made a proposal to add CRV as collateral to Aave v2 in Oct 2020, the first Aave v2 proposal to pass.
Soon, Ethereum will scale through a network of natively composable L2s and L3s.
Using @zksync's ZK Stack, developers can easily deploy fully customizable ZK rollup execution environments.
@MattFiebach introduces you to the Cosmos SDK of ZK Rollups 🧵
1/
At the heart of the ZK Stack are Hyperchains: Layer 2 (or 3, 4, etc) rollups.
Each Hyperchain is fully customizable. Developers can choose their sequencer, data availability layer, whether to use the shared prover at L1, and more.
The codebase is 100% free and open source.
2/
An L3 posts its proof to a prover contract that has been deployed on an L2.
This type of architecture has been dubbed fractal scaling and is included in the existing roadmap for many ZK projects today, such as Starknet.