Excellent thread on how the FRAX and frxETH Curve AMOs work.
04 Feb 2023, 22:02
Excellent thread on how the FRAX and frxETH Curve AMOs work! If you’ve always wondered the mechanics, this should shed light on how powerful, profitable, & innovative it is.
Spent some time yesterday considering @fraxfinance's frxETH system and wanted to share an analysis to answer the murky question of:
"is my frxETH backed 1:1 with ETH?"
while also following-up my previous tweet which regrettably sounded like a "gotchya"...