Summary
Deploy Fraxferry for FRAX, FXS, frxETH, and sfrxETH between Ethereum Mainnet and Mantle, with the following details (each token will be voted separately on the snapshot):
Background and Motivation
Fraxferry aims to simplify the cross-chain bridging issue for assets, making it easier to deploy Frax-related tokens on other chains. Fraxferry is a slower, simpler, but more secure method of bridging tokens. And you can read more about it here
Proposal
- For: Deploy Fraxferry for FRAX, FXS, frxETH, and sfrxETH between Ethereum Mainnet and Mantle
- Against: Do nothing.
BitDAO has the largest crypto treasury (not including native tokens) with over $800 million in ETH and stables. They are going through a total rebrand from BIT token to MNT token, as they gear up for mainnet of their Layer 2 chain Mantle.
They will be deploying significant capital with their Ecofund and will have continued efforts to push the growth of this chain.
This seems like an obvious opportunity to expand FRAX and frxETH market share.
Some relevant links and reading material:
Introductory article to the Mantle L2 and how it aims to improve the space.
Technical docs
Mainnet goes July 17
