Authors
Westwood
Summary
Authorize Fraxlend AMO to deposit minted FRAX into the following Fraxlend pair with mentioned max authorized allocation.
| Fraxlend Pair Name | Fraxlend Pair Address | Max Authorized Allocation |
|---|---|---|
| stETH/FRAX - Variable Rate V2 | TBD | 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. This protocol is creating new financial opportunities for the FRAX community.
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. So far, we have deployed multiple AMOs, including lending AMOs on the Fraxlend, Aave, and Rari protocols.
Adding more pairs into Fraxlend AMO is the next step in this vision, allowing the protocol to mint FRAX backed by over-collateralized debt.
stETH is the largest and most demanded LSD on the market. By adding it to Fraxlend we can enable the minting and backing of even more FRAX. Right now Lybra Finance is exploding in growth with this simple model. It would be competent to do the same.
Voting
- For: Authorize Fraxlend AMO to deposit minted FRAX into the mentioned Fraxlend pair with the mentioned max authorized allocation.
- Against: Do nothing.
Off-Chain Vote
Timeline
Jun 01, 2023Proposal created
Jun 01, 2023Proposal vote started
Jun 06, 2023Proposal vote ended
Mar 02, 2026Proposal updated