[Frax] [FIP - 407] Allocate FXS to Symbiotic

Quorum: 10% veCLEV

Authors: Michael Henry

Overview: We should use the treasury held FXS to generate additional protocol revenue. I believe we should do so by restaking it with our existing partner Symbiotic.

Details: I propose depositing 1,000,000 FXS from the Treasury into the Symbiotic FXS pool. This will generate additional yield at an undeterminable rate.

Closing Thoughts FRAX is sprinting towards 100% CR and needs to earn additional income however it can. This allows us to do some while participating in a positive-sum game with our partner Symbiotic.

Voting:

• For: Deposit 1,000,000 FXS from the Treasury into the Symbiotic FXS restaking pool
• Against: Do nothing