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Hi guys. i read about frax docs and i just
want to know if there are any additional mechanism, other than arbitrage, in place in case if the price were to ever suddenly drop to the point where it might start scaring people?
22 ответов
FRAX's main stability is now predominantly through protocol controlled liquidity (Curve+Uniswap v3), lending, and other AMOs that maintain large reserves of assets+LP tokens as collateral. The arbing mechanism is still always there as the backstop like always, but it is far from necessary to maintain peg these days due to how mature of a stablecoin FRAX is right now.
every FRAX token that could be sold on the open market is backed by $1 in liquidity. so you could sell every unlocked FRAX token and peg will hold.
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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every FRAX token that could be sold on the open ma...
as of right now, or was that always?
as of right now, or was that always?
both right now and from day one.
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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FRAX's main stability is now predominantly through...
so is the arbitration just a first line of defence, but not necessarily it's strongest one?
so is the arbitration just a first line of defence...
arbitration is not really needed at this stage, we still have the system active as a back up, but the AMO's handle everything now.
for some rough maths, there is about 1.4b frax , the protocol controls about 800m (this cant be sold) , this leaves 600m FRAX in the wild. right now the curve pools hold 600m of non-FRAX stables that people can use to swap FRAX for other stables, and there are a number of other pools on other chains. also, most of the 600m FRAX thats in the wild is locked up in time locked LP stakes, so that FRAX cant be sold in a hurry.
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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for some rough maths, there is about 1.4b frax , ...
So this leaves only a minority of frax that can be instantly bought or sold, which from your math wouldn't really deviate the price much if a whale were to suddenly dump a bunch of fraxs and even if it did, the arbitrageurs, PoL plus the reserves would all bring it back up?
you have to remember there is $100m of non-FRAX stables in the other AMO's
So this leaves only a minority of frax that can be...
a whale would not be able to sell, as the whale cant have lots of FRAX at that point
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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you have to remember there is $100m of non-FRAX st...
That the AMO can use to buy frax should the price ever goes down?
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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That the AMO can use to buy frax should the price ...
the price cant go down because there will always be liquidity to absorb the FRAX that could be sold. the only way there could be an issue is if all the FRAX was sold in to 1 pair, then the liquidity would need to be shuffled around to rebalance the pools
Due to price slippage?
no, due to lack of FRAX, the only way a whale can have FRAX is by buying it, if they buy it then the funds they use to buy it is added to the liquidity , so there will always be the liquidity needed for back the FRAX the whale has
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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So this leaves only a minority of frax that can be...
If a whale were suddenly dump a bunch of $FRAX, AMO can cancel/burn protocol controlled $FRAX in that pair to make $FRAX > $1.00 , So whale has to stop dump to preventing lost.
Cato the Younger🇺🇦🕊🇷🇺 - will NEVER DM you first
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for some rough maths, there is about 1.4b frax , ...
When will 800M be able to sold and why it can’t be sold now?
When will 800M be able to sold and why it can’t be...
this is going to sound more complex then it is. but ... the FRAX thats controlled by the AMO's has no collateral backing it. so the only way that FRAX can be sold is if someone buys it out of the trading pair. once someone buys it out of the trading pair the frax will have collateral backing it.
this is going to sound more complex then it is. bu...
I see. Thanks. Why those frx not backed backed collateral? I thought every frax backed by collateral.
I see. Thanks. Why those frx not backed backed col...
when someone buys it from the trading pair then the money they put in is used as collateral to back the FRAX they get out. protocol owned FRAX is not backed.
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