10% APY is super high for stables no? Know this is crypto and bull run makes 10% low, so just want to understand how it is sustainable, or if its just like that now because of the current market.
It can be higher than susde because all the underlying gets susde plus whatever frax itself makes.
Frax has ~$650M supply. sFrax has ~$30M. Are we making the assumption that all or a % of the Frax supply will be backed by susde and, the additional revenue that is not passed to a Frax holder will be passed to an sFrax holder. Or, is it just the unused Frax, for example, the protocol has stagnant Frax in lending pools. Trying to understand, what, if any % of existing Frax supply will be backed by susde.
@FortisFortuna_89 if you have a minute to review this question please
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