Authors:
Allstake Team
Summary:
This proposal recommends that Frax Finance allocate 100,000 FXS to provide liquidity for the FXS/AFXS pair on Curve. The goal is to boost liquidity and utility for FXS within Allstake’s ecosystem, offering Frax new use cases for its governance token while driving additional staking opportunities for users.
Background and Motivation:
Allstake introduces new avenues for staking governance tokens across multiple chains. By providing liquidity to the FXS/AFXS pair, Frax will strengthen the market for FXS, driving further adoption and utility across different chains. Allstake’s system allows for seamless integration of governance tokens into DeFi ecosystems, offering enhanced liquidity and staking incentives.
For more information: @allstake_fi | Linktree
Proposal Details:
- Liquidity Requirement: Frax will allocate 100,000 FXS.
- 50,000 FXS will be deposited into Allstake to receive 50,000 AFXS.
- The 50,000 FXS and 50,000 AFXS will be used to create a liquidity pool on Curve (FXS/AFXS).
Risk Analysis:
There is minimal risk associated with this liquidity provision as Frax has the full ownership of the LP position and can always choose to withdraw from the pool. There is also no impermanent loss.The primary risk lies in smart contract vulnerabilities. Allstake’s contracts are fully open-source and audited. Frax’s allocation will be secured within these audited contracts.
Voting:
Alex, can you provide us with more background about Allstake including links to your smart contracts and socials?
I haven’t heard of AFXS and can’t seem to find the token anywhere.
1 Like
Hi, thank you for your interest and thoughtful questions. I’d be happy to provide more details about Allstake and the tokens we’re utilizing.
About Allstake:
Allstake is an omnichain (re)staking protocol designed to bring shared security to multiple chains. Our team is composed of crypto veterans and early contributors to major projects like NEAR and EOS. We’ve also received angel investment from Illia Polosukhin, co-founder of NEAR Protocol, and have the backing of the NEAR Foundation.
Social Links & More Information:
You can find more about us and our protocol here: Allstake Links
Audit information: Allstake Audit
Let me know if there are any additional questions or clarifications I can provide. We’re committed to transparency and look forward to further engaging with the Frax community.
Token Contracts:
Here are the token contract details for the assets in our proposal:
Proposal: FXS/AFXS Liquidity Creation
Authors:
Allstake Team
Summary:
This proposal recommends that Frax Finance allocate 100,000 FXS to provide liquidity for the FXS/AFXS pair on Curve. The goal is to boost liquidity and utility for FXS within Allstake’s ecosystem, offering Frax new use cases for its governance token while driving additional staking opportunities for users.
Background and Motivation:
Allstake introduces new avenues for staking governance tokens across multiple chains. By providing liquidity to the FXS/AFXS pair, Frax will strengthen the market for FXS, driving further adoption and utility across different chains. Allstake’s system allows for seamless integration of governance tokens into DeFi ecosystems, offering enhanced liquidity and staking incentives.
For more information: @allstake_fi | Linktree
Proposal Details:
- Liquidity Requirement: Frax will allocate 100,000 FXS.
- 50,000 FXS will be deposited into Allstake to receive 50,000 AFXS.
- The 50,000 FXS and 50,000 AFXS will be used to create a liquidity pool on Curve (FXS/AFXS).
Risk Analysis:
There is minimal risk associated with this liquidity provision as Frax has the full ownership of the LP position and can always choose to withdraw from the pool. There is also no impermanent loss.The primary risk lies in smart contract vulnerabilities. Allstake’s contracts are fully open-source and audited. Frax’s allocation will be secured within these audited contracts.
Voting: