lately?
It’s because most people are staking their frxETH in the sfrxETH vault instead of LPing. Yield is still higher than stETH though. And LPing frxETH-stETH or frxETH-WETH is 5%+ so much higher yields are available for the same kind of price exposure. I think people just want the sfrxETH lower yield for convenience perhaps.
Thanks! My thought was also that since not 100% of frxETH is staked it should still have a higher APR than stETH. But Defillama was showing lower APR for sfrxETH (3.75%) than stETH (4.36%). Maybe the data is not 100% accurate there though
Also you can borrow aganst sfrxETH on FraxLend but not frxETH/ETH LP
you can use frxETH/ETH LP as collateral on fraxlend
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