Has the team addressed this statement from Techlead?

Question

Frax Finance

elmo

Has the team addressed this statement from Techlead?

#cryptocurrency #english #frax

0

17.06.2022

5 ответов

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4 years locked. veMAXI (as a millionaire)

the guys an idiot , he even post a graph showing the 3CRV assets we hold

0

17.06.2022

Sam Kazemian ¤⛓️¤

We did address this before when he posted about it. We welcome all criticism and feedback. Totally opposite culture of most other projects. I'm not saying it's not worth our time to address. Just not worth it again. He's just wrong about his numbers which I explained before. I even responded to him before. He simply ignored it. And he deleted/blocked other people explaining the same thing to him on Twitter. He's just off about his math. FRAX is backed almost 90% with POL in 3CRV and other AMO liquidity. It also controls enough liquidity and has users locking FRAX liquidity that a bank run is impossible at current CR. Simply put, there is not a situation currently with the CR that FRAX could be insolvent (this means that all users who own FRAX right now can sell it for $1 of value from the protocol). It's not just by luck that FRAX has held its peg perfectly. We do these calculations all the time and are basically the last onchain stablecoin left standing along with DAI. This has been addressed a few times so it doesn't seem like we're "ignoring criticism." He just keeps posting the same thing nonstop and if people want to short FRAX on Aave, they're more than welcome to. They'll be paying interest to FRAX lenders for no reason which would be amusing. In fact, it doesn't seem like very many people have taken him up on his suggestion because the Aave interest rate is the same as DAI/USDC/USDT. Seems like the market knows what the facts are. I also find it kind of amusing he is using @seba_tldr's dashboard picture to show FRAX has 1% USDC backing but is 99% backed by 3CRV liquidity. I think Seba understands how FRAX works and Techlead should have just asked him if he is reading the charts Seba made properly. He'd have learned a good lesson. Hopefully that is pretty clear of an explanation to you and shows we take everything seriously and are high integrity. 🙂

0

17.06.2022

Nik

Sam Kazemian ¤⛓️¤
We did address this before when he posted about it...

Could you explain, please, how Frax will maintain stability in case of serious and quick USDT depeg (or any other major assets, where algorithm has invested) ? AMO algorithms will adjust somehow holdings to be able maintain same Usdc CR? I was struggling to find an answer.

0

17.06.2022

Jason

Techlead is a scammer

0

18.06.2022

Andy - IQ & Frax Finance 🧠 (Slow Replies @ T2049) · Accepted Answer

Andy - IQ & Frax Finance 🧠 (Slow Replies @ T2049)

https://t.me/fraxfinance/201170

0

17.06.2022

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Has the team addressed this statement from Techlead?

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