Thread by @cowperwoodeth

Increasing your profits is EASY

Frax is the OG Defi protocol and has now pioneered a new ETH LSD mechanism with one of the highest APYs in the market

It is about to get upgraded, so learn more about why it will make its APYs even higher🧵

1/ What we will go through in this thread:

🔹Frax products
🔹 FXS, Frax Yield, Frax AMM, Fraxlend
🔹What is $frxETH & $sfrxETH
🔹How does it work
🔹Additional Notable Changes
🔹Potential of frxETH

and more

2/🔹Overall, @fraxfinance is doing a wide range of products focused on stability

FRAX, FPI and frxETH which we will focus on!

https://twitter.com/StableScarab/status/1646679573814292481

@fraxfinance 3/🔹 Frax Shares (FXS): FXS is the governance token. Holders of FXS could vote on protocol decisions and earn rewards for that.

🔹Frax Yield: Frax Yield is a decentralized lending platform that allows users to earn interest on their cryptocurrency holdings.

@fraxfinance 4/🔹 Frax AMM: Frax AMM is an automated market maker that facilitates decentralized trading of various cryptocurrencies, including Frax stablecoins.
🔹 Fraxlend, permissionless lending markets – This is the lending facility for Frax-based stablecoins allowing debt origination.

@fraxfinance 5/🔹What is frxETH?

frxETH is a liquid ETH staking derivative that comprises two major forms, frxETH and sfrxETH.

👉 frxETH = 1 ETH
👉 sfrxETH is the staked version of frxETH which accrues staking yield.

@fraxfinance 6/ 🔹How does $frxETH is working?

You deposit $ETH into the frxETHMinter to receive frxETH.

Then by exchanging frxETH for rebasing $sfrxETH, you receive staking yield from all profit generated by Frax Ether validators.

https://twitter.com/StableScarab/status/1648087434188529664

@fraxfinance 7/ 🔹Since for many people decentralization matters, they are looking for alternatives to @LidoFinance & other CEXs to stake their $ETH

That’s where frxETH is getting traction

frxETH, with a lower TVL but a higher APR of ~5% has attracted many new stakers to participate.

@fraxfinance @LidoFinance 8/🔹Over the past 30 days, the market share of Frax Finance has experienced tremendous growth, growing by ~24 % compared to other LSD projects

Despite its small market share, frxETH's growth outperformed others, indicating a growing interest in its adoption.

@fraxfinance @LidoFinance 9/🔹There are additional changes coming!

What is frxETH v2?

The main goal of this upgrade is to enhance the decentralized validation mechanism within frxETH.

In V1, Frax validators were run by in-house operators.

In V2, permissionless validators are accessible to anyone.

@fraxfinance @LidoFinance 10/🔹The V2 upgrade should be implemented any moment now

This could be the catalyst that many stakers are looking for

Decentralization and high APY

https://twitter.com/poopmandefi/status/1643833022289149953

@fraxfinance @LidoFinance 11/🔹What does it mean for Frax?

With increasing frxETH supply - $FXS will be incentivized too.

This benefits veFXS holders and LPs with higher trading fees, increasing the value of $FXS while making @fraxfinance a more profitable protocol 👇

https://twitter.com/ZhouYeMen/status/1640950515210276864

@fraxfinance @LidoFinance 12/🔹 There is a pool - frxETH/$ETH on Curve with a current APR – 6.63%

Users can earn farming rewards (e.g., trading fees + CRV + CVX) by depositing frxETH + ETH as LP into @CurveFinance

@fraxfinance @LidoFinance @CurveFinance 13/🔹It seems that @fraxfinance team has more appetite than just #LSDs

https://twitter.com/StableScarab/status/1643778000540794880

@fraxfinance @LidoFinance @CurveFinance 14/🔹They are proposing to use the frxETH token in most well-known DeFi projects, such as @CurveFinance.

The proposal is as follows:

gov.frax.finance/t/fip-182-frxe…

@fraxfinance @LidoFinance @CurveFinance 15/ 🔹Do follow the below DeFi Masters too if you want to find more alpha:

@Louround_
@Chinchillah_
@Hercules_Defi
@Slappjakke
@DeFiMinty
@Only1temmy
@CJCJCJCJ_
@eli5_defi
@cyrilXBT
@dLuxGMI
@DeFi_Made_Here

@fraxfinance @LidoFinance @CurveFinance @Louround_ @Chinchillah_ @Hercules_Defi @Slappjakke @DeFiMinty @Only1temmy @CJCJCJCJ_ @eli5_defi @cyrilXBT @dLuxGMI @DeFi_Made_Here 16/ 🔹And more masters (continued):

@OvrCldJonny
@Starknet_OG
@korpi87
@schizoxbt
@0xSalazar
@jake_pahor
@kindahangry
@ThisIsM1NH
@monosarin
@DeFi_Cheetah
@RuggedWojak

@fraxfinance @LidoFinance @CurveFinance @Louround_ @Chinchillah_ @Hercules_Defi @Slappjakke @DeFiMinty @Only1temmy @CJCJCJCJ_ @eli5_defi @cyrilXBT @dLuxGMI @DeFi_Made_Here @OvrCldJonny @Starknet_OG @korpi87 @schizoxbt @0xSalazar @jake_pahor @kindahangry @ThisIsM1NH @monosarin @DeFi_Cheetah @RuggedWojak 17/ 🔹If you enjoyed this thread,

• do follow me @cowperwoodeth

• Best way to support is to simply drop a RT + LIKE on the #1 tweet of this thread 🙌

https://twitter.com/cowperwoodeth/status/1650484800967385088