[FIP - XXX] Allocate FXS to Symbiotic

Governance Proposals
1

Authors:
Michael Henry

Overview:
We should use the treasury held FXS to generate additional protocol revenue. I believe we should do so by restaking it with our existing partner Symbiotic.

Details:
I propose depositing 1,000,000 FXS from the Treasury into the Symbiotic FXS pool. This will generate additional yield at an undeterminable rate.

Closing Thoughts
FRAX is sprinting towards 100% CR and needs to earn additional income however it can. This allows us to do some while participating in a positive-sum game with our partner Symbiotic.

Voting:

  • For: Deposit 1,000,000 FXS from the Treasury into the Symbiotic FXS restaking pool
  • Against: Do nothing
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This should definitively be put on hold until revenue and tokenomics is fully mapped, and we have a good enough picture of how we should manage our remaining FXS.

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Thanks for the response SharkySnakeFish! To be clear, I’m not advocating for this to be a permanent home for our held FXS, just a temporary home for unallocated FXS. Also, this doesn’t require us to sell our FXS.