[FIP - 140] Deploy Fraxferry for a new chain ( Fantom )

Governance Proposals Fraxferry
1

Authors

Frax Core Team

Summary

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

Parameter Value
Ethereum Fraxferry contract address TBD
Fantom Fraxferry contract address TBD
Ethereum Token address 0x853d955aCEf822Db058eb8505911ED77F175b99e (FRAX)
Fantom Token address TBD
MIN_WAIT_PERIOD_ADD 1 hour
MIN_WAIT_PERIOD_EXECUTE 23 hours

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.

Proposal

  • For: Deploy a Fraxferry between Ethereum Mainnet and Fantom
  • Against: Do nothing.
1 Like
2

This proposal is up for voting here: Snapshot

3

This is completely necessary in my opinion since liquidity on Fantom is not as good as it could be if u want to swap back to another stablecoin, which can disincentivize the use of FRAX. If users can redeem their tokens on Ethereum Mainnet, it will probably improve the liquidity on Fantom since more money will flow into FRAX due to the fact that there won’t be a big slippage when trying to sell against, for example, USDC.