According to ChainCatcher's message, the Snapshot governance page shows that Convex Finance has initiated a proposal to significantly reduce the PYUSD holdings.The proposal states that Frax holds a large amount of PYUSD in its assets, but the interest is very low. Frax should diversify away from low-yield assets, and therefore it is suggested to reduce the over two million dollars of PYUSD in the Curve FRAX/PYUSD to a maximum of 500,000 dollars.The current proposal has a 99.51% opposition rate and will end on September 20.

ChainCatcher news, the stablecoin protocol Frax Finance has announced the launch of the domain name service FNS, which is now open for user applications. FNS is a branch of the Ethereum Name Service (ENS) within the Frax ecosystem. It retains the core functionalities of ENS, but FNS burns FXS tokens.Every year, 1,000 three-letter FNS domain names will burn 1 million FXS tokens.

ChainCatcher message, the re-staking infrastructure provider Symbiotic announced that the first batch of 14 networks has joined its shared security framework ecosystem, including Frax, EtherFi, RedStone, Arrakis, Stride, Capx, Primev, Router, Pragma, Hinkal, Inference Labs, Ditto, RollChains, and Leaf. These projects will leverage Symbiotic's technology to enhance security and decentralization in their respective fields, covering various aspects such as DeFi, oracle services, cross-chain bridging, AI resource matching, MEV optimization, and privacy solutions.In addition, Symbiotic plans to launch its mainnet in September.

ChainCatcher message, Movement announces that the DeFi protocol Frax Finance plans to natively deploy on the Movement blockchain today. As a key part of this plan, Frax commits to rewriting its entire Solidity codebase in the Move language.Frax will introduce at least four new assets on Movement: Frax stablecoin, sFrax (staked Frax), frxETH (a liquid staking token pegged 1:1 with ETH), and FXS (the staking and governance token of the Frax ecosystem). Frax will also deploy Fraxlend, Frax CDP, and its staking contracts on Movement.Both parties will work together to provide $10 million in protocol liquidity and offer incentives for existing Frax users to cross-chain to Movement. Frax plans to complete the deployment on the first day of the Movement mainnet launch.

ChainCatcher news, the stablecoin protocol Frax Finance has released a proposal discussion on its governance forum to convert FXTL points into FXS.It is reported that the proposal consists of two parts: an initial conversion and an annual FXTL conversion thereafter. For this purpose, 5 million FXS will be used, and after the initial conversion of FPIS, its market value will reach 93 million FXS. Subsequently, 1 million FXS will be designated each year as the unlock amount for FXTL point conversion.

ChainCatcher message, Frax Finance announced a partnership with NEAR Protocol on X, further realizing the multi-chain vision through programmable money and user-owned artificial intelligence.Currently, over $5.5 million of FRAX has been bridged and provided to NEAR ecosystem DeFi projects Burrow Finance and Ref Finance. Frax's yield-bearing dollars and ETH assets sFRAX and sfrxETH will also power NEAR DeFi.Additionally, through this collaboration, Frax will integrate NEAR DA into Fraxtal, serving as a liquidity hub for all cryptocurrencies.

ChainCatcher news, according to Lookonchain monitoring, as the price of CRV drops, a user has just been liquidated for 10.58 million CRV (approximately 3.3 million USD) on Fraxlend.

ChainCatcher news, the X account of Frax Finance has been hacked. To regain control, Frax Finance CEO Sam Kazemian is calling on his fans to help contact X customer service.Users report that X took about 72 hours to process complaints related to the stolen account. While X staff suggested changing the password during the account breach, Kazemian insisted that the password had not been tampered with and stated that any issues within Frax Finance could not have caused the leak. Instead, he suspects that X's internal personnel were involved: "The Frax Finance X account was compromised, seemingly due to internal work at X or a social engineering event, as Frax itself did not reset passwords or have other issues."

ChainCatcher message, Frax Finance founder Sam Kazemian posted on social media that the official Frax Finance Twitter account has been hacked, and Frax itself has not had any password resets or other issues. Users are advised to be cautious and not to click on any links.

ChainCatcher news, according to official sources, Frax has now integrated with the Ethereum Layer 2 network Scroll, allowing users to exchange Frax assets on Sushiswap on Scroll. This integration is achieved through Axelar Network.

ChainCatcher news, Frax Finance tweeted that as part of Frax's vision for a harmonious multi-chain ecosystem, Frax Assets are now available on Scroll, allowing users to trade on SushiSwap and achieve further integrations through Scroll.

ChainCatcher message, the liquidity re-staking protocol Swell announced on platform X that Frax has launched on Swell L2. Tokens deposited in the pre-release of Frax Finance will earn 10 million FXTL points in the first month, as well as Swell airdrop rewards at the launch of L2, airdrops from Swell L2 projects, and 1 million EigenLayer points.Supported tokens: FRAX (2x FXTL points); frxETH (2x FXTL points); sFRAX; sfrxETH;

ChainCatcher news, Ethena Labs posted on social media that the singularity roadmap proposal from Frax Finance has been approved, which includes allocating funds for the USDeFRAX POL through Curve AMO, with a cap of $250 million. Starting from yesterday, FRAX has increased the USDe POL, which will create one of the deepest on-chain dollar liquidity pools, diversifying FRAX's sources of yield.

ChainCatcher news, according to The Block, Frax Finance is collaborating with Noble to bring the Frax stablecoin into the Cosmos ecosystem.It is reported that the initial issuance of Frax on Noble will include the Frax token, a decentralized stablecoin that combines collateral and algorithmic mechanisms to achieve peg stability; and sFrax, which is the staked version of Frax designed to provide yield.

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.

ChainCatcher news, the Fantom Foundation officially announced that Sam Kazemian, the founder of Frax Finance, has become its angel investor. In addition, Frax Finance will deploy its native issuance asset on the first day of the Sonic technology stack launch.

ChainCatcher news, the first part of the Singularity roadmap proposal from Frax Finance has opened community voting, with the voting deadline set for March 31 at 8:17.This includes the launch of Fraxtal; all Frax assets, including FRAX, sFRAX, frxETH (and new Frax assets), will be issued on Fraxtal first; the launch of 23 L3s within the next year to kickstart the Fraxtal Nation community; and new FXS Singularity token economics.

ChainCatcher news, Frax founder Sam Kazemian released the Frax roadmap on the governance forum, planning to achieve over $100 billion in Fraxtal TVL by the end of 2026; launching 23 officially provided L3s within the next 365 days to kickstart the Fraxtal Nation community, which will receive a large allocation of FXTL; new assets such as frxNEAR, frxTIA, and frxMetis may be launched this year; it is proposed to reopen the protocol fee switch, with 50% of the revenue flowing to veFXS, and the other 50% used to buy back FXS and other Frax assets; it is suggested to reduce the conversion rate from FPIS to veFXS by 67%, to a new rate of 1 FPIS -> 1.33 veFXS, for a period of four years.

ChainCatcher message, Frax Finance has initiated a community proposal to allocate 75% of the protocol fees to veFXS holders. The proposal states that the collateral ratio (CR) of FRAX is 98.8%, which is close to 100%, and the overall market sentiment is in the bullish zone. Therefore, it is suggested to resume the allocation of fees to veFXS holders. Before the protocol fully acquires external collateral, the fees should be distributed between veFXS holders and the protocol treasury at a ratio of 75/25.