[FIP - 281] Sunset Fraxferry for FRAX ( Boba )

Authors

Frax Core Team

Summary

Sunset Fraxferry for FRAX between Ethereum Mainnet and the mentioned chain, with the following details:

Token	Chain 1	Chain 2	Life time Volume	Frax Facts Page
FRAX	Ethereum	Boba	20.60k FRAX	Link

Background and Motivation

While the Frax Ferry has played a crucial role in facilitating cross-chain transfers for FRAX, specified chain has experienced low transfer volumes, which do not justify the operational effort required to maintain the Ferry for it. It's important to note that Frax Finance remains committed to the mentioned chain ecosystem and growth. However, in light of the current circumstances, we believe that supporting this chain through third-party bridges is a more effective approach. This will allow users to continue enjoying the benefits of cross-chain transfers while optimizing resource allocation.

Sunset Process Details

1. Phased Transition: Transfers from Ethereum Mainnet to the specified chains will be gradually phased out. Users will be informed that transfers for these specific chains will no longer be supported starting from a predefined date.

2. UI Removal: Following the phased transition, the user interface for the Ferry for the specified chains will be removed from the main Frax APP after a period of three months. This will provide users with sufficient time to adjust their strategies and make informed decisions.

3. Token Retrieval: Although the Ferry interface will be removed from the UI, users who have transferred FRAX tokens to the mentioned chains will still have the option to retrieve their tokens. By engaging with the Frax Finance team, users can initiate the process to return their tokens from the specified chains back to the Ethereum Mainnet.

Proposal

• For: Sunset Fraxferry for FRAX between Ethereum Mainnet and the mentioned chain
• Against: Do nothing.