So to move FRAX from arbitrum to fantom, I need

Question

So to move FRAX from arbitrum to fantom, I need

to:
1. swap from arbitrum canonical FRAX to anyFRAX on app.frax.finance and pay 0.04% fee)
2. bridge anyFRAX to fantom using anyswap (pay 0.1% fee)
3. swap from anyFRAX back to canonical FRAX on fantom again (0.04% fee)
do I really have to go through all these steps and pay 0.18% fee? is there a better way?

It's so much easier to bridge MIM. What is the benefit of this FRAX cross-chain architecture?

#cryptocurrency #english #frax

0

23.01.2022

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DeFi Ahab Автор вопроса

Sam Kazemian ¤⛓️¤
The architecture accomplishes 2 very important fea...

thanks. btw curve just tweeted this idea: https://twitter.com/CurveFinance/status/1485190435895185414 🔥

0

23.01.2022

Sam Kazemian ¤⛓️¤

DeFi Ahab
thanks. btw curve just tweeted this idea: https://...

This is a really interesting idea. Big brain 🧠

0

23.01.2022

Sam Kazemian ¤⛓️¤ · Accepted Answer

The architecture accomplishes 2 very important features: 1.) Non-vendor lockin for bridges. The canonical FRAX on each chain is native and independent of any bridge protocol. The native FRAX is a token that can be minted by AMOs on that chain and also mint/redeemed by users. If there was 1 single bridge for FRAX like MIM has with AnySwap, then all integrations of FRAX on that chain will be with the bridge provider's wrapped token. Only the bridge provider has ultimate minting priviledges for that token on that chain so the stablecoin protocol loses all control of monetary policy on that chain unless they directly work with the bridge provider to ask them for permission to mint the token. The canFRAX architecture also allows FRAX to work with multiple bridge protocols rather than be locked into 1. 2.) Secondly, this architecture removes the single point of failure of 1 bridge protocol being exploited or needing to trust that specific team entirely. Since FRAX works with multiple bridges, this design is, by definition, more decentralized.

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So to move FRAX from arbitrum to fantom, I need

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