Frax 项目 - andywan

https://twitter.com/Rewkang/status/1479193841680928768

The Central Bank of Crypto (Web3) The @fraxfinance $FXS Mega Thesis

1/ For sovereign nations, a central bank exists to control the supply and cost of money & credit via various monetary policy operations The operations impact market-wide interest rates, liquidity, and asset prices

2/ These operations can mostly be distilled down to directly buying/selling securities, setting reserve requirements, and setting interest rates for borrowing/lending Basically, the Central Bank controls the economy

3/ Buying securities (bonds), lowering reserve requirements, and lowering borrowing rates generally are conducive to market wide effects of lowering cost of capital, increasing liquidity, and increasing asset prices We've seen this play out over the past few years

4/ @fraxfinance has developed a stablecoin protocol that has the potential to have a similar level of control over the entire crypto economy through its modularized design and unique AMO innovations

5/ What is an AMO?

https://docs.frax.finance/

6/ These AMOs allow for the protocol to algorithmically mint/burn $ while maintaining peg stability to generate income for the protocol, increase liquidity for FRAX paired assets, and influence interest rates for crypto money markets Sound familiar?

7/ Income Generation Normally, FRAX generates income from farming with its collateral. But if FRAX trades above peg, extra FRAX can be minted to both stabilize the peg and be staked in farms ~$80m profit has been generated over the past 6 months

8/ Liquidity FRAX can be minted to provide deep liquidity for both other stablecoins, and also non-stable assets Frax currently provides 9 figures of liquidity via programs like Frax-as-a-service and its Tokemak Reactor

9/ Interest Rates FRAX can be minted into collateralized money markets like Aave and Rari's Fuse. The more FRAX that is minted, the lower the interest rates. New pools and token's looking to collateralize no longer need to find 3rd parties for stablecoin liquidity

10/ By creating collateral status, Frax can make any coin a productive asset. They can be used to borrow off of and farm. Yield correlates with return - these coins are easier to hold, and people are less incentivized to sell them.

11/ If Frax can influence the liquidity, collateral ratios, interest rates for any asset, then what does a king make? @Tetranode

understands the power of the control stack

12/ Also at Frax's disposal is its ability to influence frax related pools with $FXS incentives. We saw how instrumental

@CurveFinance

has been in the growth of various stablecoin projects ($SPELL). Now imagine Frax applying that flywheel to non-stablecoin projects

13/ The Trinity What we've discussed is just the start. One must imagine FRAX as controlling the entire stack - Frax V3 will achieve The Trinity

14/ So how much are the keys to the central bank worth? We'll find out