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Frax Finance

Kore

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#cryptocurrency #english #frax

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14.09.2022

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Sam Kazemian ¤⛓️¤ · Accepted Answer

There's 2 issues with what he's saying: 1.) We bribe by far the most out of anyone, sometimes comprising almost 50% of all the bribes per period. Him saying "Curve/Convex makes almost no revenue from Frax" is insane. We are almost half of the APR of the entire CVX token ourselves. We pay big for using the ecosystem. Curve/Convex yields would drop by half if we didn't. 2.) Regardless of the bribe revenue, Fraxlend is out now. Give it a few more weeks/bribe cycles. As the amount of debt and collateral assets you can borrow with FRAX increases, so will its velocity, volume, and thus its revenue for the Curve/Convex ecosystem as leverage+repayments rise. The final piece of the puzzle just arrived so let's give it a bit until it's fully in action. 3.) Lastly, FRAX owns a lot of CVX and growing amount of veCRV. We're literally part owners of Curve/Convex. In fact, we are the largest DAO owner in the world. We are aligned entirely in terms of long term economics here and also want to see revenues increase. We are the last entity that would ever want our own CVX+veCRV stack to become worthless. This is as symbiotic of a relationship as you can get.

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