Quorum: 10% veCLEV

Authors

Frax Core Team

Summary

This proposal seeks to migrate the Snapshot voting process from the Ethereum mainnet to the Fraxtal network. By transitioning to Fraxtal, we aim to enhance the voting experience for the Frax community by leveraging Fraxtal’s advanced scalability and flexibility features.

Background and Motivation

Currently, Frax Finance conducts its Snapshot voting on the Ethereum mainnet. However, by leveraging Fraxtal’s infrastructure, we aim to optimize our governance experience and integrate more effectively with our ecosystem.

Migrating Snapshot voting to Fraxtal will not only streamline our operations but also position Fraxtal as a central hub for governance activities. This move will allow us to accumulate voting power from both our veFXS holders on the mainnet and those on Fraxtal, creating a more unified and influential voting base. Additionally, by setting this precedent, we hope to encourage other projects to consider Fraxtal for their governance needs, further solidifying its role in the broader DeFi ecosystem.

Voting

• For: Approve the migration of Snapshot voting from Ethereum mainnet to Fraxtal.
• Against: Continue using Ethereum mainnet for Snapshot voting.