Frax x TripleFi Protocol

Governance Proposals Liquidity Providing
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Author: Garrett#9293

FXS is a popular asset listed on many spot market including DEX and CEX. But FXS is not listed yet on any perpetual market or market with leverage yet, tough I see other perpetual DEX is also making proposals now. The main difference will be TripleFi is a lot easy to use and also instead of millions to launch, we just need 10k USD in the liquidity pool to initiate. Once listed, there will be an increase of trading volume of FXS in both derivative market and spot market, which in a long term will benefit the popularity and price of FXS.

We propose to list FXS on TripleFi (https://triple.fi/).
TripleFi is a derivative perpetual DEX on Polygon and can list FXS/USDT with 5x leverage.

There will be no cost for a listing. However FXS/USDT trading pair will launch once liquidity pool exceeds 10k USDT in the liquidity pool. Therefore we suggest to deposit 10k into the liquidity pool of FXS/USDT pair after listing. The liquidity can be withdrawn and liquidity pool will generate a return above 30% APR in a fully traded pair which is also beneficial for the DAO.

More about TripleFi: Triple.Fi | Linktree

2 Likes
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Hey Garrett thanks for posting. Do you have statistics on the usage and traction of TripleFi?

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Hi Dave! We are recently launched, here is the stats from Dapp.com.
https://www.dapp.com/app/triplefi

Please feel free to try out our product on Polygon or even on Mumbai Testnet. Our product is really easy to use and has the potential to grow.

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Hi, what kind of risk liquidity pool could have?

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In theory, there is a net position level in the liquidity pool which will result a profit and loss of liquidity pool. We have an R ratio (max net position level R is 40%) to protect the position risk level of Liquidity Pool so that the risk of liquidity pool is limited. 75% of the trading fee, the spread and 67.5% of the funding fee will go to the LP. Therefore the potential profit will overcomes the relative risk.