The Frax Finance community voted to approve the proposal to "use 1 million FRAX from the DAO treasury to purchase CRV from Curve founders."
ChainCatcher message, the Snapshot page shows that the proposal from the Frax Finance community regarding "using community treasury funds to purchase CRV" has been voted through.
The proposal states that Frax Finance will use 1 million FRAX from the FRAX DAO treasury to purchase CRV from the Curve founders via OTC. The treasury will not sell these CRV tokens but will instead stake them in veCRV (through Frax's whitelisted locking contract) or cvxCRV, in order to promote Frax's development within the Curve ecosystem.
ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.