Okay so I've been doing some more research and thinking

Question

Okay so I've been doing some more research and thinking

about the structure of frax V3. I think it's a lot more complex than what some people are implying. I think that frax v3 is going to be a two token design. Frax and FrxUSD with FRXusd as the yield bearing stablecoin with deposits at the Fed aka treasuries probably assisted by paxos. Frxusd will replace usdc and back frax in all of the curve pools. So frax basically creates its own yield source at the Fed and pairs with FrxUSD it's own curve pool in lieu of usdc. I don't think this is all though because there's got to be an onboarding function to allow people to deposit into the yield-bearing account/treasuries. So I'm thinking there must be some kind of staking mechanism where you can stake your frax to deposit and earn the treasury yield that comes from frxusd. Thats what Sam was talking about regarding expanding and contracting supply of frxusd via some kind of onboarding function and some staking mechanism. This would be huge because it would allow anyone that holds frax to earn the treasure yield, creating very high demand for Frax onchain as people seek Tbill yield. Am I close @samkazemian ?

#cryptocurrency #english #frax

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28.07.2023