Authors
Frax Core Team
Summary
Sunset Fraxferry for FRAX between Ethereum Mainnet and the mentioned chains, with the following details:
| Token | Chain 1 | Chain 2 | Life time Volume | Frax Facts Page |
|---|---|---|---|---|
| FRAX | Ethereum | Boba | 20.60k FRAX | Link |
| FRAX | Ethereum | Aurora | 13.45k FRAX | Link |
| FRAX | Ethereum | EVMOS | 25.16k FRAX | Link |
Background and Motivation
While the Frax Ferry has played a crucial role in facilitating cross-chain transfers for FRAX, specified chains have experienced low transfer volumes, which do not justify the operational effort required to maintain the Ferry for them. It’s important to note that Frax Finance remains committed to the mentioned chains ecosystems and growth. However, in light of the current circumstances, we believe that supporting these chains through third-party bridges is a more effective approach. This will allow users to continue enjoying the benefits of cross-chain transfers while optimizing resource allocation.
Sunset Process Details
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Phased Transition: Transfers from Ethereum Mainnet to the specified chains will be gradually phased out. Users will be informed that transfers for these specific chains will no longer be supported starting from a predefined date.
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UI Removal: Following the phased transition, the user interface for the Ferry for the specified chains will be removed from the main Frax APP after a period of three months. This will provide users with sufficient time to adjust their strategies and make informed decisions.
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Token Retrieval: Although the Ferry interface will be removed from the UI, users who have transferred FRAX tokens to the mentioned chains will still have the option to retrieve their tokens. By engaging with the Frax Finance team, users can initiate the process to return their tokens from the specified chains back to the Ethereum Mainnet.
Proposal
- For: Sunset Fraxferry for FRAX between Ethereum Mainnet and the mentioned chains
- Against: Do nothing.