Frax founder analyzes frxETH v2: What’s new?
Frax founder on frxETH v2 analysis: What's new?
frxETH v2 is a decentralized lending market and ETH stablecoin supported by validator debt, and it is also the most programmable LSD base layer in the project. The frxETH v2 version is expected to complete the audit by the end of this month, and project founder Sam Kazemian talks about the essence of the LSD protocol and the innovations of frxETH v2.
The basic structure of all LSD protocols is a simple lending market, where lenders lend ETH and receive voucher tokens (LSD), and borrowers rent the right to operate validators and pay interest to the lender. It’s straightforward, without the need for additional marketing rhetoric.
Innovation of frxETH v2: Idle ETH not in validators will be sent to Curve AMO for liquidity and returns. The utilization considers AMO ETH, so it is self-balancing. Fully decentralized beacon oracle/chain-controlled zk proof. No management keys/msig/EOA trust. The frxETH v2 version code will be completed at the end of this month and will undergo an audit.
Reference: https://twitter.com/samkazemian/status/1664737658797686784
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