The first part of the proposal for the Frax Finance Singularity roadmap has been approved

ChainCatcher news, the first part of the Frax Finance Singularity roadmap proposal has been approved. First, as the FRAX stablecoin becomes fully collateralized, veFXS holders' yield sharing can begin as early as this Wednesday, and the buyback of FXS through the Fraxtal liquidity engine will also start as early as next week. Secondly, the cap interest rate for sFRAX will be raised to 50% APY, with a minimum interest rate of 5.40%.

Frax has also partnered with Ethena to allocate 250 million FRAX to the sUSDe lending pool in the lending protocol Morpho, as well as to POL in Fraxlend and Curve, to expand Frax's cash flow and enhance sFRAX APY.

In the coming weeks, sfrxETH will receive support from EigenLayer AVS validators through strategic partnerships, providing holders with points and additional yields. Additionally, to give the community more time to stake veFXS on Fraxtal, the second snapshot date for FXTL points will be moved to April 18 at 07:59.