Reading time saved: 5 minutes
6 replies, 912 views, 15 likes
The community is largely supportive of 0xlide's proposal to add Frax Finance's FXS token to the Ethereum v3 Liquidity Pool, which could diversify GHO collateral and use FXS revenue as a strategic asset. The next steps include gathering feedback from the Risk Management team and the community, with the final decision following the [ARFC] Framework for ARFC and TEMP CHECK Proposals.
The discussion primarily revolved around the proposal by 0xlide to add FXS, the Governance and Utility Token of Frax Finance, to the Ethereum v3 Liquidity Pool. Frax Finance, a Stable-Protocol, operates sub-protocols such as Fraxlend and Fraxferry, and issues Frax, FPI, FrxETH. The addition of FXS to Aave could diversify GHO collateral and the FXS earned as revenue from the Aave V3 pool could be used as a strategic asset for GHO and/or new aToken adoption. As of September 17, 73.9% of FXS are unlocked, with about 50.8% staked as veFXS for an average of 1.84 years. The Frax Protocol is owned and managed by veFXS Holder, and the Frax Finance runs a Snapshot Subspace where they vote on Governance Proposals.
The community showed strong support for the proposal, with Oneski22, FUIMUS7, and ApuMallku expressing interest. 0xlide also mentioned that proposals to add sfrxETH to Aave V3 have been submitted by MarcZeller and will be implemented once Chainlink Oracle is ready. The timeline for the proposal to move to the next steps is not yet determined but will follow the [ARFC] Framework for ARFC and TEMP CHECK Proposals. The recommendation from the risk management team (Gauntlet, ChaosLabs)) will be considered 5 days after it's made.
In conclusion, the proposal to add FXS to the Ethereum v3 Liquidity Pool has been well-received by the community. The next steps involve gathering recommendations from the Risk Management team and feedback from the community. The final decision will be made following the guidelines provided by the [ARFC] Framework for ARFC and TEMP CHECK Proposals.
Posted 2 months ago
Last reply 2 months ago
Summary updated 2 months ago
Last updated 04/12 15:05