Authors:
Summary:
Authorize Fraxlend AMO to deposit minted FRAX into the wBTC/FRAX lending pair on Fraxtal.
Details:
- Fraxlend Pair Name: wBTC/FRAX - Variable Rate V2
- Chain: Fraxtal
- Max Authorized Allocation: 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. 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 the wBTC/FRAX pair into Fraxlend AMO on Fraxtal 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.