So this proposal passed and removed AMO FXS1559’s 50% profit

Question

So this proposal passed and removed AMO FXS1559’s 50% profit

burn mechanism to profit distribution over veFXS holders.
1. Is the profit distribution in the form of veFXS (or FRAX)? Because if it’s FXS distributed to veFXS holders, they can still dump.
2. Do we still have the burn mechanism anywhere in the system? Like burning (1-X)% of FXS when minting a FRAX given X% CR.

#cryptocurrency #english #frax

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21.02.2022

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Sam Kazemian ¤⛓️¤
Yes we do. The buybacks in the system from the ori...

to further clarify, I wonder why, starting from Dec. for example, the FXS supply has been sort of flat while FRAX supply was expanding during Dec. to late mid Jan.

0

21.02.2022

Sam Kazemian ¤⛓️¤ · Accepted Answer

Sam Kazemian ¤⛓️¤

Yes we do. The buybacks in the system from the original v1 design is still active at https://app.frax.finance/buyback-recollat If you look at the FXS supply, it is the lowest total supply it has been in months. The protocol is overall burning more FXS than ever while also distributing veFXS yield through AMO profits.

0

21.02.2022

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So this proposal passed and removed AMO FXS1559’s 50% profit

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