Deploy Fraxferry for a new chain (Harmony)




Deploy a Fraxferry between Ethereum Mainnet and Harmony with the following details:

Parameter Value
Ethereum Fraxferry contract address TBD
Harmony Fraxferry contract address TBD
Ethereum Token address 0x853d955aCEf822Db058eb8505911ED77F175b99e (FRAX)
Harmony Token address TBD

Background and Motivation

Fraxferry is the newest product of Frax Finance. It aims to simplify the cross-chain bridging issue for Frax assets, making it easier to deploy Frax on other chains. Fraxferry is a slower, simpler, but more secure method of bridging tokens. And you can read more about it here .


  • For: Deploy a Fraxferry between Ethereum Mainnet and Harmony
  • Against: Do nothing.

i think deploy ferry on harmony was very useful at least for many of us stuck on this chain with canonical frax after bridge hack. the liquidity of frax on harmony is so small that impact on frax system is almost irrelevant.

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I think the Harmony community would be surprised and delighted to see canonical FRAX on Harmony once again become part of the multichain world.

The chain is definitely in a spot right now where deploying Fraxferry would give Frax a fairly large competitive advantage and certainly make more people discover what Frax is all about.

I remember in late 2021 Frax was able to make great strides introducing Frax to Harmony. Obviously since then there have been various problems that have needed to be solved. But thankfully Frax seems to have solved those problems by introducing concepts like canonical FRAX and now the potential deployment of the Fraxferry, providing a new level of safety and caution to the concept of bridging.

So I think voters should strongly consider deploying on Harmony due to the low cost and high benefit that is unique to deploying on a chain that is currently seeking out solutions to issues with stable coins. Fraxferry plus canonical FRAX actually solves a pressing issue that users are currently facing, rather than just being a ‘nice to have’ type of thing.

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