This proposal aims to move the maximum lock time for all new gauges back to three years for a 3x boost on the Frax Finance protocol.
Background and Motivations
Currently, Frax Finance offers users the option to lock their tokens for one year in exchange for a 2x boost. However, this option has not proven more effective than the previous option of locking tokens for three years for a 3x boost. Therefore, we propose to move the lock option back to three years for a 3x boost. This change will only apply to FRAXOHM, clevUSD, msUSD, and future gauges, and the gauges deployed with a maximum one-year lock and 2x boost won’t be unlocked or redeployed.
By moving the lock option back to three years, we hope to achieve the following goals:
- Encourage users to lock their tokens for a longer period, resulting in increased liquidity, trading volumes, protocol stability, and anti-reflexivity in the stablecoin peg.
- Provide users with a more attractive incentive to lock their tokens, improving the platform’s overall performance.
- Increase user participation and engagement on the platform by giving them more flexibility and control over their tokens.
- For: Move the maximum lock time for all new gauges back to three years for a 3x boost on the Frax Finance protocol.
- Against: Do nothing