Frax
2023
October 19: New deployed and finalized $sFRAX contract for migration
- No danger and not time-sensitive.
October 13: Monthly Report 32
- Frax v3 launched.
- Staked $FRAX ($sFRAX) launched
- Fraxchain contracts deployed on internal testnet.
October 12: Frax v3 sFrax available
September 23: Soft launch for frxGov with only Fraxlend Comptroller
September 13: Monthly Report 31
- Curvance adopts $FRAX.
- Frax bonds, $sfrxETH redemption queue, $sFRAX being audited by Trail of Bits.
- Fraxchain devnets live but private.
- Frax Governance docs released.
- $sfrxETH added as $crvUSD collateral.
August 27: Curve Finance enables $sfrxeth as collateral for $crvUSD.
- $crvUSD is Curve Finance’s stablecoin.
August 6: Cream Finance lists FRAX as an option to supply and borrow.
- C.R.E.A.M. Finance is a decentralized lending protocol for individuals and protocols to access financial services. The protocol is permissionless, transparent, and non-custodial.
July 21: Sommelier Finance launches Fraximal Strategy.
- Automated vaults find best-in-class yields while mitigating risk.
July 15: $FXS listed on Huobi.
- Huobi provides cryptocurrency services.
July 12: Partnership with Velocimeter.
- FVM is a decentralized exchange that has launched on the Fantom network with low fees, near 0 slippage on correlated assets and a strong focus on secondary markets for tokenized locks as NFTs.
July 6: $FXS listed on OKX Exchange.
- OKX is a crypto trading exchange and Web3 app.
June 27: $ARB enabled as borrow in Fraxlend.
June 16: Partnership with Swell Network.
- Swell is a non-custodial liquid staking protocol with a mission to deliver the world’s best liquid staking experience, simplify access to DeFi, while securing the future of Ethereum.
June 14: Partnership with Resonate.
- The world’s first platform to offer instant liquidity for locked assets.
June 3: frxETH v2 information published.
- Sam Kazemian states that it is “the most efficient, decentralized lending market & ETH stablecoin backed by validator debt. It’s also the most programmable LSD base layer to build on top of for projects.”
- Idle ETH not in validators gets sent to the Curve AMO for liquidity+earnings.
- The utilization rate takes into account AMO ETH so it is self-rebalancing.
- The beacon oracle is also fully decentralized/controlled on-chain with zk proofs. No admin keys/msig/EOAs trust.
May 26: Introduction of frxGov.
- Frax is undergoing significant changes to its governance structure in order to enhance decentralization and mitigate risks with the introduction of frxGov.
- By bringing governance fully on-chain and leaving the final arbiter of protocol actions to veFXS holders, the Frax Core Team has taken a vital step towards decentralization.
May 13: Integration with Hourglass.
- Frax farms are unique for time-boosting their user staking.
- Users must stake their LP tokens for a duration of time, which awards them additional rewards.
May 4: $frxETH will be used as the initial collateral available to back $crvUSD.
- $crvUSD is Curve Finance’s stablecoin.
April 27: Partnership with Adamant Vault.
- An auto-compounder and yield optimizer protocol.
April 11: Frax Education Incentives Program announced.
- Up to $10k of rewards will be distributed each month for people to write articles, build dashboards, create infographics, and author threads.
- The program will run for 3 months.
April 4: Integration with Alchemix.
- Users can now deposit FRAX into an Alchemix vault as collateral for a Self-Repaying $alUSD loan.
March 25: Partnership with Arbitrum Exchange.
- A next-generation DEX on Arbitrum designed for unparalleled efficiency, flexibility, and user-friendliness.
March 24: Frax receives 515,081 ARB tokens from the Arbitrum Foundation as part of the airdrop program.
March 20: Convex Finance adds support for FPIS in its locking/staking mechanism toolbox.
- $cvxFPIS stakers will earn rewards from Convex-locked $veFPIS(as vanilla $FPIS).
March 2: Partnership with Ramses Exchange.
- Ramses pairs incentives with concentrated liquidity for next-level capital efficiency on the Arbitrum network.
February 21: veFPIS launched.
- FPI is one of the three flagship stablecoins created and maintained by Frax.
- FPIS is the governance token of FPI.
- Users can lock FPIS up to 4 years for yields on their locked positions.
February 12: Launch of newly designed pairs on Fraxlend.
- New pairs come with composability upgrades that make them easier to consume and build on top of.
- Upgraded oracle feed.
- Each pair now gets price information from two sources.
- If either price feed deviates, borrowing will be temporarily paused.
- This means that Fraxlend pairs can now support more price feeds and are significantly less susceptible to oracle attacks.
February 7: Eden Network announced validation partnership with Frax.
February 1: FXS Fraxferries enabled for:
- Arbitrum, Avalanche, BSC, Fantom, Moonbeam, Optimism, and Polygon.
- Most of the 3rd party bridge tokens are now deprecated for these chains.
- Those holding any of those unofficial bridge tokens, will have to bridge them back to ETH Mainnet and then Ferry back across to your desired chain.
January 21: FXS listed on BitForex.
January 13: Metronome integrated FRAX and vaFRAX as collateral assets.
January 20:
- FXS spot listed on ByBit.
FXS perps listed on Binance Futures.
2022
December: FraxFerry launched.
- Native bridging solution which supports bridging of Frax ecosystem tokens across Ethereum Mainnet, Arbitrum, Optimism, and Moonbeam Chains.
- Frax no longer supports swaps with other bridge tokens.
October 13: FrxETH and sFrx ETH liquid staking derivative announced.
- Users can mint FrxETH with ETH, or sFrx, which earns yield on ETH.
September 9: FraxLend goes live on Ethereum.
- Users can borrow FRAX against WETH and WBTC at variable rates.
- Plan to expand to more chains.
August 15: FPIS available to borrow or use as collateral on Euler Finance.
May 31: Velodrome adds FRAX and FXS for trading on day 1 of launch on Optimism.
May 14: FraxSwap TWAMM migrated to post-audit code.
April 10: FPI (Frax Price Index) and FPIS (Frax Price Index Share) are live.
- Mint and redeeming done via the introduction of FraxSwap, Frax’s own TWAMM (Time Weighted Average Market Maker) AMM.
- 10m FPIS tokens airdropped to Frax derivative holders or LP participants.
March 29: FRAX and FXS live on Gemini.
March 24: FTX lists FXS spot and perpetual futures.
February 25: CVX and FRAX rewards live for Convex Finance FXS pools.
February 23: FRAX and FXS are live on Solidly exchange.
February 15: FRAX deployed to Evmos Cosmos EVM chain.
January 25: New gauge controller contract deployed to optimize math and gas savings.
January 7: 100% of FXS holding wallets in profit.
January 6: FPI announced.
- Stablecoin pegged to U.S. CPI (Consumer Price Index).
- Stablecoin meant to be inflation-resistant.
- Powered with Chainlink price feeds.
January 5: Partnership with TraderJoe.
- FRAX liquidity pools incentivized.
- FRAX – AVAX pool rewarded with FXS.
January 4: Partnership with Qi DAO.
- FXS added as collateral.
- Users can borrow FRAX against MAI (Qi DAO native stablecoin) on Polygon.
- FRAX – MAI liquidity pool goes live.
2021
November 29: FRAX added to GMX’s GLP liquidity pool index.
- FRAX is live on Aurora NEAR network via NearPad FRAX-NEAR and FRAX-PAD liquidity pools.
November 9: FRAX lending live on Fantom and Arbitrum on Hundred Finance.
October 18: SushiSwap bridge goes live.
- Users can bridge FRAX from BSC and Polygon to Fantom directly.
September 21: FXS – USDT pair added to Bittrex.
September 9: Vote to bring FRAX to Aave passes.
- Fist algorithmic stablecoin on Aave.
September 7: Partnership with Enya to bring Frax to Boba Network.
August 30: Partnership with Pangolin to list FRAX-AVAX and FXS-AVAX pairs to boost liquidity on Avalanche.
August 20: Frax upgrades oracle mechanism to Chainlink to secure FRAX stablecoin minting and redeeming, and maintain peg.
August 11: FXS – USDC pair live on crypto.com
July 26: FRAX added to Orion Savers.
July 21: FRAX partners with Harmony One to launch FRAX, FXS, and AMOs on Harmony ecosystem.
July 17: FRAX Uniswap V3 contract is deployed, migration from V2 to V3 pools goes live.
July 16: veFXS gauges announced.
- Enables veFXS to be used to vote for increased emissions on any of the dApps FRAX is live on, including Curve, Uniswap, and more.
July 14: Saber Finance adds FRAX pool, first FRAX pool on Solana.
July 13: FRAX pool becomes 5th biggest pool on Convex Finance.
- Pool also had the least CVX reward token sell pressure.
June 30: FRAX added to Sadde Finance’s decentralized stablecoin pool, along with alUSD by Alchemix, LUSD by Liquity, and FEI by Fei Protocol.
May 27: Frax begins building on Polygon.
- FRAX-FXS and FRAX-USDC pairs go live and are incentivized on Polygon Sushiswap.
May 23: veFXS contract V2 implemented.
- Allowed for re locking of yield for more veFXS.
- Fixed minor error in how yields were calculated.
May 15: veFXS implemented.
- FXS holders could lock their tokens into veFXS to earn yield and enhanced governance voting rights.
- Based on Curve veCRV model.
April 15: Frax Curve pool added.
April 8: FRAX and FXS deployed on BSC.
- Liquidity available on SakeSwap and PancakeSwap DEXs.
- Rari Capital RAI – FRAX pool goes live.
- Goal of RAI – FRAX pool was to start phasing USDC collateral out of Frax, and use crypto.
March 21: Frax Curve AMO added.
March 10: Frax V2 announced.
- Introduces AMOs (Algorithm Money Operations) Controller, a smart contract that runs the monetary policy of Frax.
March 8: FRAX deployed on Avalanche.
January 22: FRAX onboarded to Sushiswap.
- Added to Onsen Menu, Sushiswap’s program which gives SUSHI rewards to newly created tokens.
- Added to Sushiswap’s stablecoin routing whitelist.
January: 100m FRAX tokens minted at 85% collateral ratio.
2020
December 1: Protocol launched on Ethereum Mainnet.
- TVL reached $43m one hour after launch.
November 26: Testnet version was released for early users to report bugs.
- Frax aimed to provide a partially algorithmic stablecoin solution with FRAX, which could be more capital efficient than other stablecoins while being decentralized.
