Frax protects itself against bankruns via locked liquidity. Every FRAX that is locked inside an LP can not be used to dump on us during a bankrun. Currently we have enough FRAX locked we can be sure that a bankrun will fail, so nobody will be so stupid to start one.
Our locked liquidity will unlock over time, so that will lower our protection. I can not see 3 years in the future, but the locked FRAX might come in handy in the coming 3 years.
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Sure, but there’s a yield to locking for 3 years. With stax, pretty but any yield is gone to there. It’s why the apr max is 2.94%. Either way, when the vote passes, I’ll be moving over as well since I want yield, not to leave frax. The 3y lockers got kinda screwed over
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Stax is earning the same max APR from the gauge as you can get when you lock veFXS and have max boost. The reason Stax offers 10% there now is because they are subsidizing it to make it more attractive.
The main reason the APR is down is that Temple is getting less votes on the gauges. Likely because they stopped bribing via Pitch.
After the discussion on Telegram today I think there are three options:
- Temporarily unlock the FRAX-STAX gauge. (For lets say for a week)
- Allow the Temple/Stax team to create a migration contract and a UI that can migrate the FRAX-Temple LP to their new product while they remain locked.
- Do nothing
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Obviously I would vote for option 1 since option 2 is at the mercy of someone writing the code.