veFXS holders.
2. Core team forms Frax Foundation
3. FF applies for bank charter
4. veFXS holders vote to ratify Frax bank as payment provider/fiat custodian for Frax protocol
5. Frax protocol becomes the intermediary between the off-chain and on-chain worlds.
6. New banks can compete for access to Frax’s financial stack further decentralizing the protocol risks.
Thoughts?
Against anything with "Bank in it". Frax protocol should stay as decentralized/premissionless protocol, away from tradFi activies, because need Bank lic from every countries. to do that.
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