frax balance sheet show CR at 98.4% when the balance is +$114,934,347. Wouldn't positive balance mean the CR is above 100%?
CR = (Total Assets - Locked Liquidity) / Total Liabilities
I see. I was reading "balance" as just the collateral in $. So balance is just Assets - liabilities and for CR locked liquidity is accounted for. Makes sense, thank you for clarifying
Wow I was going to suggest a tooltip with the formula but it's there lol didn't notice
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