[FIP - 116] Authorize Fraxlend AMO for a new pair ( CVX )

Governance Proposals AMOs
1

Authors

Frax Core Team

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
FraxlendV1 - Convex Token/Frax - Variable Time-Weighted Interest Rate - 4 0xa1D100a5bf6BFd2736837c97248853D989a9ED84 5,000,000 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.

Voting

  • For: Authorize Fraxlend AMO to deposit minted FRAX into the mentioned Fraxlend pair with the mentioned max authorized allocation.
  • Against: Do nothing.
2 Likes
2

Should you please spilt this FIP to 2, one for FXS one for rest of them or remove FXS from it?

FXS => Frax AMO will make frax protocol very close to LUNC/UST.
Introducing unnecessary fud and negative imagine on $FXS, which is not worth to have for extra 1,000,000 $FRAX MC.
Remove this AMO can proof to the market of Frax protocol’s sensitiveness and that builds much more confidence to the whole protocol and that is worth more then 1,000,000 Frax market capital

1 Like
3

This proposal is up for voting here: Snapshot