June 29, 2022: Frax-imum Overdrive ⚡🚚
Frax Base[d]Pool Goes Live, Domination Next
By popular request, live videos are now being left untrimmed so all can see the discussion!
One of the finer pleasures in life is following crypto throughout the bear market. Everybody in this market is a first-hand participant enjoying history unfold. Whensoever things inevitably boom again, and the masses panic rush back into the market, they’ll hop right onto the infrastructure being created right now.
They’ll just assume this is how it’s always been. We’ll doubtless see a new thread000r appear and rack up a few million social media karma points:
Every wonder how @FraxFinance came to dominate DeFi?
Let’s review a boomer battle known as the Curve Wars!
🧵1/69👇
At the moment though, it’s being framed as a gradual shift.
Needless to say, some seismic events produce massive shocks. See if you can observe any changes here…
To contextualize Frax’s ambitions in terms of their roadmap:
Frax-USDC overwhelmingly passed Curve governance and the vote has since been deployed. The era of the FraxBase[d]Pool has officially begun.
For the visual learners, @fraxbull1 put together a helpful Pride-themed video explainer of the event. 🏳️🌈
For those lacking context, Frax has massive influence within the Curve Wars. They plan to use their influence to heavily incentivize pools launching against this 2pool with rewards in multiple tokens.
Ergo, if DeFi innovation continues, we can expect the next generation of DeFi protocols are incentivized to plug into the Frax ecosystem. The $FRAX stablecoin will be easily fungible with every new protocol that launches with it. The $FRAX token will become the central hub of DeFi, giving the token outsized utility.
Most DeFi projects would be happy to stop here and call it a day. Fortunately Frax Finance has greater ambitions.
For free-riders looking for more info on Frax, we’ll redirect you here to the outstanding advocacy of @SalomonCrypto:
