[FIP - 385] Deploy Fraxferry for a new chain ( TRON )

Governance Proposals Fraxferry
1

Authors

Frax Core Team

Summary

Deploy Fraxferry for sFRAX, FRAX, FXS between Fraxtal and TRON, with the following details :

766×260 8.79 KB

Background and Motivation

The TRON public chain, a decentralized blockchain network based on the Tron protocol, has served as the core of the Tron ecosystem since its launch on June 25th, 2018. TRON has become a significant player in the stablecoin market, with a total value locked (TVL) reaching an all-time high of $58 billion ( DefiLlama ), primarily driven by USDT. The absence of both stablecoin alternatives and USD yield-bearing assets on TRON presents a great opportunity for FRAX and sFRAX to shine in this market. FRAX can offer a stable, decentralized alternative to USDT, while sFRAX can meet the demand for yield-bearing assets, providing users with more options for earning returns on their holdings.

Fraxferry aims to simplify the cross-chain bridging issue for assets, making it easier to deploy Frax-related tokens on other chains. Frax Ferry is a slower, simpler, but more secure method of bridging tokens. And you can read more about it here.

Proposal

  • For: Deploy Fraxferry for sFRAX, FRAX, FXS between Fraxtal and TRON

  • Against: Do nothing.

5 Likes
3

I think this a great idea! Getting a Frax Ferry into Tron will help deepen the $FRAX liquidity on a chain that dominates stablecoin transaction. I also think the Frax community should look for partnerships with the Tron DAO to help amplify our efforts on Tron.

3 Likes
4

This proposal is up for voting here: Snapshot

2 Likes