June 29, 2022: Frax-imum Overdrive ⚡🚚

Frax Base[d]Pool Goes Live, Domination Next

crv.mktcap.eth

Jun 29, 2022

∙ Paid

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.

Haym Salomon @SalomonCrypto

FRAXBP!!!

Needless to say, some seismic events produce massive shocks. See if you can observe any changes here…

Editor’s Note: If you see 4 digit yield and expect this will persist, ask your registered financial advisor why you’re an idiot.

To contextualize Frax’s ambitions in terms of their roadmap:

Haym Salomon @SalomonCrypto

You are now exiting the pre-FRAXBP era. No re-entry from this point!!! Step 1) Launch FRAXBP ✅ Step 2) Attain FRAXBP gauge ✅ Step 3) Vote to make FRAXBP a base pool ✅ Step 4) $veCRV whitelist 👈 You are here 👈 @fraxfinance 🤝 @ConvexFinance 🤝 @CurveFinance FRAXBP!!!

harvey milk @imnarrating

frax base pool passed

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. 🏳️‍🌈

FRAX BULL @fraxbull1

Me and @usdcbull1 vibing after the FraxBasedPool deployment 🌊 https://t.co/Sx3hTYNjj8

Shark11 |🦇,🔊| @Mark11ETH

🫡 FRAX/USDC basepool https://t.co/NXUpi1MevD

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.