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In a roundabout way you're essentially using the sfrax and

sfrxeth to be used as collateral for the borrowed frax. I suppose it can be done but at that point why not use a normal multi-collateral lending protocol?

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mathletamine- Автор вопроса

That's very similar to how Alchemix works, but in practice it works how I said. The only difference is you are slowly selling the sfrax collateral for frax to repay the debt

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