{"id":11040,"date":"2024-02-26T15:36:28","date_gmt":"2024-02-26T13:36:28","guid":{"rendered":"https:\/\/forklog.com\/en\/frax-finance-explores-uniswap-inspired-initiative-fxs-rises-by-17\/"},"modified":"2024-02-26T15:36:28","modified_gmt":"2024-02-26T13:36:28","slug":"frax-finance-explores-uniswap-inspired-initiative-fxs-rises-by-17","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/frax-finance-explores-uniswap-inspired-initiative-fxs-rises-by-17\/","title":{"rendered":"Frax Finance Explores Uniswap-Inspired Initiative, FXS Rises by 17%"},"content":{"rendered":"<p>DeFi project Frax Finance is developing a reward mechanism for veFXS stakers, akin to an initiative by the Uniswap Foundation. This news led to a 17.3% surge in Frax Share (FXS).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Should veFXS holders vote to distribute Frax Protocol revenue back to veFXS stakers again? Frax Finance makes 8 figures of annual revenue &#038; growing, mostly being conserved in the treasury now. Time to turn it back on? ? <a href=\"https:\/\/t.co\/3Yd9oDV98A\">https:\/\/t.co\/3Yd9oDV98A<\/a><\/p>\n<p>\u2014 Frax Finance \u00a4\u26d3\ufe0f\u00a4 (@fraxfinance) <a href=\"https:\/\/twitter.com\/fraxfinance\/status\/1761102567667548277?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Should veFXS holders vote to resume the distribution of Frax Protocol revenue among veFXS stakers? The project&#8217;s annual revenue is in the eight-figure range and growing, replenishing the treasury. Is it time to return to the previous mechanism?&#8221;<\/em> the message reads.<\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.coindesk.com\/business\/2024\/02\/26\/frax-finance-mulls-uniswap-like-reward-mechanism-for-token-stakers\/\">CoinDesk<\/a> recalled the project&#8217;s community decision to halt revenue distribution among token holders in 2022.<\/p>\n<p>On February 23, 2024, a nonprofit organization associated with Uniswap published a proposal to distribute protocol fees among UNI holders.<\/p>\n<p>If the proposal gains support, rewards will be distributed to token holders who have staked or delegated their voting rights. This move by the Uniswap Foundation could be a response to community criticism over the asset&#8217;s lack of &#8220;utility.&#8221;<\/p>\n<p>Following the announcement, UNI surged by 54.5%.<\/p>\n<p>The response of FXS to a similar proposal was more modest, with a price jump of 17.3%, followed by a correction. Daily growth rates fell to 5.7%, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/frax-share\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-926.webp\" alt=\"1-926\" class=\"wp-image-226802\"\/><figcaption class=\"wp-element-caption\">5-minute FXS\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/FXSUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>In a conversation with CoinDesk, Frax co-founder and CEO Sam Kazemian promised to bring this issue to the community for consideration. The essence is to share protocol revenue with veFXS stakers.<\/p>\n<p>In Frax Finance, the governance and utility token is FXS. When the asset is staked, holders retain associated rights and receive veFXS as a reward. These can be staked in the main Ethereum network and the L2 solution <a href=\"https:\/\/u1f987.com\/en\/news\/frax-finance-launches-fraxtal-l2-blockchain\">Fraxtal<\/a>.<\/p>\n<p>Curve Finance reacted positively to Frax Finance&#8217;s proposal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Do et!<\/p>\n<p>\u2014 Curve Finance (@CurveFinance) <a href=\"https:\/\/twitter.com\/CurveFinance\/status\/1761173559009833364?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back in June 2023, Kazemian supported a more &#8220;aggressive&#8221; buyback of the project&#8217;s tokens.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DeFi project Frax Finance is developing a reward mechanism for veFXS stakers, akin to an initiative by the Uniswap Foundation. This news led to a 17.3% surge in Frax Share (FXS). Should veFXS holders vote to distribute Frax Protocol revenue back to veFXS stakers again? Frax Finance makes 8 figures of annual revenue &#038; growing, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1289,596,1391],"class_list":["post-11040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-staking","tag-tokens","tag-uniswap-uni"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11040"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11039"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}