FIP 53 - Whitelist STAX Finance to Stake veFXS

Summary:

Whitelist TempleDAO project STAX Finance to stake veFXS, vote on gauges, earn farming boosts, and other future veFXS features

Background & Motivation:

TempleDAO made its name as an early backer of Frax Finance by conducting its presale exclusively with FRAX, and became a top FRAX holder with one of the largest FRAX reserves ($137M). Recently we have also started bribing on the Pitch.money platform to further evangelise the FRAX ecosystem. Now we plan to double down on our commitment by launching STAX Finance, which will enable users to easily zap into the TEMPLE/FRAX LP pair, TEMPLE vault strategies, and partake in other FRAX gauge yields in the future. By building a user-friendly interface to automate FRAX investments for investors to receive FXS yields and bribes from existing platforms such as Hidden Hands and Pitch, STAX aims to become the best place to stake into Frax gauges.

Since STAX lowers the barrier to gaining exposure to the Frax ecosystem while facilitating the accumulation and removal of FXS from circulation to drive demand, this deepening of our existing partnership would be a win-win for both protocols.

For: Add STAX Finance to veFXS whitelist

Against: Do nothing

3 Likes

seems like a no brainer

3 Likes

How is this a “no brainer”?

No documents, no system overview of how it works, no tokenomics, no time frames, no mention of planned audits/reviews, no info on how liquidity
will be incentivized for what seems to be a wrapped vefxs, is it even a wrapped vefxs? Is there a live site? Zapping into an LP position and “other strategies” doesn’t require whitelist so is the first part of this project already out? If those are first steps why don’t we see them first?

There’s little to no information in this proposal.

2 Likes

Agree, vague description, and didn’t understand why staking FXS is needed or where will it come from

this is a vote to whitelist a contract to stake FXS.

it does not matter what STAX’s does or how it operates, we are not voting to make a partnership or use any of FRAX funds, ect.