When can we expect vst-frax rage quit function w/20% fee?

Question

Frax Finance

Jay McGee

When can we expect vst-frax rage quit function w/20% fee?

it passed. I want to move the lp funds to a new one so I dont miss out on yields.

#cryptocurrency #english #frax

0

06.01.2024

3 ответов

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Luke SkywalkeI2

I found it. https://gov.frax.finance/t/fip-316-let-vst-frax-lps-rage-quit-at-20-fee/2815/21 Look. Believe me, you can scroll through the gov forum + snapshot + this tg and see many many hours ive spent advocating (conditional) unlocks, so please 🙏🏼 don't feel like I'm attacking you (assuming your wrote the proposals?... i havent slept in 33hrs so forgive my lack of forum hunting), and believe me when I say I understand your emotions, but here's some advice: If you want to win a governance proposal, you need to learn to compromise, and more importantly , you don't want to negotiate a compromise after you've allowed your emotions to dictate your words. I know it's easier said than done at times.. but for instance, your 7% proposal .. one of the first things you do is cast blame on convex. Convex, last I knew, mimics the snapshot proposals and casts their voting weight in line with the majority of their voting holders to the fxs snapshot. You dont win favor by attacking. Likewise, a successful compromise consists of two parts. Winning sympathy for your side, and simultaneously displaying that you understand what is in their best interest. At no point did you bring into account the negatives or positives to any of the protocols involved (fxs, cvx, etc). Furthermore, as C2tp tried to explain to you, your argument of vst "going to zero" is just inaccurate based on your premise. Vst is backed, (over collateralized) by volatile assets. While I don't recall it's exact liquidation model or thresholds, so long as the asset used as collateral for the vst issuance does not cease to exist, that collateral will be redeemable via burning the vst, even if their front end goes down (via direct contract interaction ae etherscan). Finally, clarity on the % precedence you mentioned. 20% is not exactly the precedent. 20% is the "I'm not going to do the work to determine how much value was distributed to the LP over time and 20% should sure fire cover it" precedence. While it varies from case to case, in my experience, in the event of a protocol sunset, repaying the fxs that has been given and accounting for the dev time involved in constructing the exit contract has proven sufficient.. but again, you failed to account for the time and effort it would take the devs to create this contract, which in itself costs the protocol man hours (at arguably the most critical man hour time in frax history). Finally, and perhaps most importantly, you never once mentioned the effect on the CR, which is the #1 most important thing to FRAX Protocol at this time. (And is for example why I've been "sitting" on an LP exit proposal for 4(?) months and counting) All this to say: when negotiating a compromise, you have to give a little to get a little. Remove your emotions from the negotiation, and consider the pros and cons from all sides. Seek sympathy, not pity. Appeal to comraderie and don't cast stones. These words apply to any negotiational circumstance in life. Again, I know what you're feeling. I've been there. But you need to refine your tact, and hopefully the words I've just spoken will help you do so. Happy New Year, I wish you well.

0

4 месяца назад

Travis Moore | Co-Founder @ Frax (¤³, ¤³)

I will try to get it out in the next few days. Been backlogged with gauge-related stuff

0

4 месяца назад

Luke SkywalkeI2 · Accepted Answer

Luke SkywalkeI2

Can you link the passed proposal please? I didnt spent a WHOLE lot of time.. but this looks to be the most recent? (F) https://snapshot.org/#/frax.eth/proposal/0x1383e77cdbb30541b24af05e461ee1c02545b4bc128b1fa113abbc9aa41262b4

0

4 месяца назад

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When can we expect vst-frax rage quit function w/20% fee?

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