Quorum: 6.87m CVX

Authors

Frax Core Team

Summary

Increase max authorized allocation of Fraxlend AMO for the following Fraxlend pair.

Fraxlend Pair Name	Fraxlend Pair Address	Current Max Authorized Allocation	Proposing Max Authorized Allocation
FraxlendV1 - Convex Token/Frax - Variable Time-Weighted Interest Rate - 4	0xa1D1...9ED84	5,000,000 FRAX	10,000,000 FRAX

Background and Motivation

Fraxlend is a lending platform that allows anyone to create a market between a pair of ERC-20 tokens. Any token part of a Chainlink data feed can be lent to borrowers or used as collateral. Each pair is an isolated, permission-less market that allows anyone to create and participate in lending and borrowing activities.

Automated Market Operations (AMOs) make FRAX one of the most potent stablecoin protocols, creating maximum flexibility and opportunity without altering the base stability mechanism that made FRAX a leader in the stablecoin space.

Fraxlend CVX/FRAX-VariableRate pair is one of the protocol's most-attractive isolated markets, which can be monitored here.

Proposal

• For: Increase max authorized allocation of Fraxlend AMO for the mentioned pair.
• Against: Do nothing.