Authors:
@astralprotocol on Telegram
Summary:
This is a temperature check regarding the possibility of FRAX protocol deploying a white label service for frxUSD/sfrxUSD.
Background & Motivation:
Coinbase recently launched a white label stablecoin service that shares yield with clients. Since Coinbase does not disclose the APR yield rate of the program, most likely the yield is very low.
FRAX could greatly increase frxUSD TVL by offering a comparable white label service to Coinbase, with higher yield.
Proposal Details:
Deploy a stablecoin white label service built on top of frxUSD infrastructure. Retain 10-50% of revenue from deposited frxUSD tokens within the FRAX Protocol Treasury and share remainder with whitelabel clients.
Optionally consider making FRAX’s white label service permissionless and as easy to do as deploying an ERC20 Token from a factory contract.
Similar to using an ERC20 Token Generator, users could deploy white labeled stablecoins by inputting the name and symbol of their white labeled token along with a Treasury address into a factory generator contract that then produces a V3 Vault that receives frxUSD tokens to mint white labeled stablecoins while directing yield to the Treasury address.
Vote Options:
- Deploy white label service by permission only.
- Deploy easy permissionless white label service.
- Don’t deploy white label service.