Since its inception in 2020, Frax has been a frontrunner in the DeFi space. As we approach the much-anticipated launch of Fraxtal, forging strategic partnerships to bolster liquidity and Total Value Locked (TVL) is more crucial than ever.
Established in late November 2023, CVX5 is a coalition of five dedicated individuals united by a singular vision: to propel the growth of Frax Finance and Convex Finance ecosystems. Our team members - Boz Menzalji, Cryptovestor, Jason Hitchcock, K Khan, and Solace - bring diverse yet complementary expertise to the table.
Business Development Case Study: Trident Digital Group (“TriDig”):
Educated TriDig on the governance layout of Convex & Curve, including the nuanced intricacies associated with onboarding their proposals
We coordinated these proposals with the CVX Group that consolidated protocol leads and large holders for effective and communication for maximum awareness and visibility
We streamlined TriDig’s technical efforts and their contracts with Michael on Curve, acting as a technical advisory and support team
We advised TriDigs group on their go to market strategies, and highlighted other effective means for a longer incentive runway using complimentary protocols of Convex, such as Aladdin’s CLever
CryptoVestor/Boz managed the relationship, including calls, introductions to several protocols (that cannot be shared at the moment given sensitive nature of the conversations)
Solace deployed the Frax/USDC “PayPool” on Convex, and got it ready for Votium
Cryptovestor/Solace/Boz: Ongoing strategies with key ecosystem partners with the key goal of optimizing incentives, maximizing TVL, driving volume, and utility of those pools for users
Our recent accomplishment with Trident Digital, guiding them to infuse pyUSD liquidity into DeFi, stands as a testament to our capabilities. CVX5 ensured that Trident’s proposals not only met quorum but also facilitated strategic partnerships with major DeFi players. Our collective experience spans across startup development, DeFi fund advisory, private equity investment, and digital marketing, all driven by our shared passion and values in the DeFi sector.
The primary motivation for CVX5 is achieving a sense of accomplishment through positive sum interactions.
We outlined some of the responsibilities we undertook as part of the community as we believe this positively impacts the ecosystem overall. Our efforts will continue with the following:
- Act as one of the key ecosystem business development leads entrusted by Frax’s team and community to manage relationships, assisting with educating, onboarding, and strategizing opportunities that benefit the Frax ecosystem at large
- Leverage our network of partners to evangelize Frax’s development and efforts to a diversified audience base
- Qualify inbound prospects that align on values and mutually benefit the ecosystem to increase liquidity, TVL and overall chain utility
- Recruit protocols in the DeFi ecosystem at large to expand to Fractal
- Be an advisory resource to Fractal ecosystem projects
CVX5, leveraging our extensive hands-on experience and strong community ties, proposes the following:
An allocation of $25,000 Frax to integrate CVX5 as an integral part of Frax Finance’s Business Development core initiatives. These initiatives are outlined in the key part above in the case study portion.
These funds will be staked for 1-year on our Fraxtal validator and will only be used to pay for overhead costs: operational, security and cloud costs. Although we do not have the details at the time of this proposal, we reserve the right to revisit these costs once testnet is live.
Fraxtal Validator: We propose the Frax team to delegate to a future validator such that we are in the top 25% by weight. That ensures Frax has complete custody of assets, and the earnings to CVX5 are in line with community infrastructure providers and contributors, further extending our value-add to secure the network. The earnings will be derived from the fee structure that will allow us to continue funding operations. This can be revisited with the Frax team once more details, such as hardware and architecture requirements are officially public. It’s a risk-free bet by Frax to incentivize delegations contribution efforts from its community partners, like CVX5.
In the event Fraxtal requires a validator delegation program, we also volunteer to help advise on the structure for delegation to the team. Boz has helped create Akash Network’s delegation program, and managed its community’s contribution for the past four years. You can learn more about it here.
Our track record, especially in rallying key CVX groups, has significantly improved communication, visibility, and feedback mechanisms for governance proposals. All growth and opportunities stemming from CVX5 initiatives will be attributed to our concerted efforts.
Brings two decades of private equity management experience, coupled with a 10-year tenure in the crypto space, and a strong background in IT and server management. Cryptovestor has recently been promoted from Aladdin’s community to be on CLever’s team given his evangelism, educational efforts, and overall contribution.
Twitter: Cryptovestor77) | TG: ACT777
Was the Former COO of Overclock Labs (creators of Akash Network $AKT, one the leading DePin decentralized cloud infrastructure projects in the market, most notably supporting decentralized AI initiatives). During my time at Overclock, I co-founded a friends & family defi fund shortly after defi summer. Two (of three) of the cofounders are [Twitter [at] jasonhitchcock and [at]Ace_da_Book. We currently manage Twitter: [at]fourmoonsllc, a DeFi Advisory Firm for hedge funds, defi projects, and currently run validators on a few networks: Canto, Berachain.
The four-moons team is currently sub-advising a digital asset hedge fund and the goal is to take that to 100m aum. Background: 15+ years of startups, experienced to acquisitions - started in web mmo gaming, went to ag-tech (acquired), recruited to a fintech startup (acquired), launched a startup (fundraised but ultimately shutdown after 2.5 yrs), was a GM of a gaming web3 project and left shortly thereafter.
Twitter: boz_menzalji) | TG: boz_m
12 years of startup experience leading BD teams, invested in 20+ deals, ran a liquid token fund, sub-advisor to a crypto hedge fund, and leads Ecosystem BD @Thirdweb, the most widely adopted web3 development toolkit.
Twitter: JasonHitchcock) | TG: jasonhitch
DeFi veteran, an integral part of the team, contributing their technical expertise, governance operations, and community building.
Discord Handle: .s0l4c3
K Khan: DeFi full time, and professional background is in Digital Marketing Field (retired).
For: Onboard CVX5 as an official Business Development Group of Frax Finance, leveraging our expertise and network to drive strategic growth and community engagement.
Against: Do nothing