Authors:
Allstake Team
Summary:
We propose that Frax Finance allocate 200,000 FRAX to provide initial liquidity for the FRAX/AFRAX pair on Curve. This proposal is designed to support liquidity creation, encourage staking, and boost the adoption of FRAX as a core DeFi asset within the Allstake ecosystem.
Background and Motivation:
Allstake is an omnichain (re)staking protocol designed to bring shared security to multiple chains. Our team comprises crypto veterans who were early contributors NEAR and EOS, with backing from the NEAR Foundation and angel investment from Illia Polosukhin, co-founder of NEAR Protocol. By providing liquidity to the FRAX/AFRAX pair, Frax will enhance the liquidity and stability of FRAX while gaining exposure to Allstake’s unique meshed restaking mechanism. This opens up new avenues for staking, restaking, and utility for the FRAX stablecoin, providing more earning opportunities for FRAX users
For more information: @allstake_fi | Linktree
Proposal Details:
- Liquidity Requirement: Frax will allocate 200,000 FRAX for liquidity creation.
- 100,000 FRAX will be deposited into Allstake to receive 100,000 AFRAX.
- The 100,000 FRAX and 100,000 AFRAX will then be used to create a liquidity pool on Curve (FRAX/AFRAX).
Risk Analysis:
There is minimal risk associated with this liquidity provision as Frax has full ownership of the LP position and can always choose to withdraw from the pool. There is also no impermanent loss. Allstake’s contracts are fully open-source and audited. Frax’s allocation will be secured within these audited contracts, and the liquidity provision helps solidify the use case of FRAX as a key DeFi asset. Review Allstake’s audits here: Audits | Allstake
Voting:
Why are you posting so many of these liquidity creation posts? You are lacking a lot of necessary information to even consider this. Who are you? Who built the protocol? What are the risk? How will it impact Frax? How will you manage to get 20% FXS APY? So many things left unanswered. Why should Frax deploy liquidity into your project and not a competitor? I am all for positive sum, but I have never heard of your project before and do not see you building relationships either in the community.
1 Like
Hi, thank you for your thoughtful feedback. I’d like to address your concerns directly:
About Allstake:
Our team is composed of crypto veterans who were founding members and early contributors to top public chains like NEAR and EOS. We’ve received angel investment from Illia Polosukhin, the co-founder of NEAR Protocol, and have official support from the NEAR Foundation.
You can find more information about us and our protocol here: Allstake Links
Risks:
The primary risk associated with our protocol is smart contract risk. However, everything we develop is fully open-source and has undergone extensive auditing. You can review our audits here: Allstake Audit
Impact on Frax:
By integrating with Allstake, Frax, sfrxETH, and FXS will gain new use cases as underlying assets for shared security, expanding their utility across multiple chains.
20% FXS APY:
To earn the 20% APY in FXS, simply deposit any of the following assets—FRAX, sfrxETH, or FXS—into Allstake.
We understand your concerns about project visibility, and we’re committed to building stronger connections within the Frax community. Thank you for your feedback, and we hope to engage further.
FRAX/AFRAX Liquidity Creation
Authors:
Allstake Team
Summary:
We propose that Frax Finance allocate 200,000 FRAX to provide initial liquidity for the FRAX/AFRAX pair on Curve. This proposal is designed to support liquidity creation, encourage staking, and boost the adoption of FRAX as a core DeFi asset within the Allstake ecosystem.
Background and Motivation:
Allstake is an omnichain (re)staking protocol designed to bring shared security to multiple chains. Our team comprises crypto veterans who were early contributors NEAR and EOS, with backing from the NEAR Foundation and angel investment from Illia Polosukhin, co-founder of NEAR Protocol. By providing liquidity to the FRAX/AFRAX pair, Frax will enhance the liquidity and stability of FRAX while gaining exposure to Allstake’s unique meshed restaking mechanism. This opens up new avenues for staking, restaking, and utility for the FRAX stablecoin, providing more earning opportunities for FRAX users
For more information: @allstake_fi | Linktree
Proposal Details:
- Liquidity Requirement: Frax will allocate 200,000 FRAX for liquidity creation.
- 100,000 FRAX will be deposited into Allstake to receive 100,000 AFRAX.
- The 100,000 FRAX and 100,000 AFRAX will then be used to create a liquidity pool on Curve (FRAX/AFRAX).
Risk Analysis:
There is minimal risk associated with this liquidity provision as Frax has full ownership of the LP position and can always choose to withdraw from the pool. There is also no impermanent loss. Allstake’s contracts are fully open-source and audited. Frax’s allocation will be secured within these audited contracts, and the liquidity provision helps solidify the use case of FRAX as a key DeFi asset. Review Allstake’s audits here: Audits | Allstake
Voting:
This proposal is up for voting here.