Increase Fraxlend AMO allocation for a pair ( FPI/FRAX - Variable Rate )

Authors

Frax Core Team

Summary

Increase max authorized allocation of Fraxlend AMO for the following Fraxlend pair.

Fraxlend Pair Name Fraxlend Pair Address Current Max Authorized Allocation Proposing Max Authorized Allocation
FraxlendV1 - Frax Price Index/Frax - Variable Time-Weighted Interest Rate - 7 0x50E6…293a 5,000,000 FRAX 15,000,000 FRAX

Background and Motivation

Fraxlend is a lending platform that allows anyone to create a market between a pair of ERC-20 tokens. Any token part of a Chainlink data feed can be lent to borrowers or used as collateral. Each pair is an isolated, permission-less market that allows anyone to create and participate in lending and borrowing activities.

Automated Market Operations (AMOs) make FRAX one of the most potent stablecoin protocols, creating maximum flexibility and opportunity without altering the base stability mechanism that made FRAX a leader in the stablecoin space.

Fraxlend FPI/FRAX-VariableRate pair is one of the protocol’s fastest-growing isolated markets, which can be monitored here.

Proposal

  • For: Increase max authorized allocation of Fraxlend AMO for the mentioned pair.
  • Against: Do nothing.