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Home»ADOPTION NEWS»Frax Finance plans to announce proposed revenue sharing within 10 days: ‘It will be huge returns’
ADOPTION NEWS

Frax Finance plans to announce proposed revenue sharing within 10 days: ‘It will be huge returns’

By Crypto FlexsFebruary 26, 20242 Mins Read
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Frax Finance plans to announce proposed revenue sharing within 10 days: ‘It will be huge returns’
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Posted 1 minute ago In ~

Decentralized stablecoin protocol Frax Frax

+0.34%
The Treasury is considering withdrawing rewards for token stakers again within the next two weeks.

This move follows Uniswap’s offer to reward UNI holders. However, while Uniswap is implementing rewards for the first time, Frax Finance will reverse its previous decision to discontinue rewards, Frax founder Sam Kazemian told The Block.

“Yes, they voted to stop rev (revenue) sharing before, but now we think it’s the right time to flip a huge switch. It’s going to be a huge revenue boost,” Kazemian said, adding that implementation will happen. Within 10 days.

Connect to Uniswap

February 24, Prax asked Social media platform Is it?”

Just the day before, Uniswap proposed rewarding users for staking its native token UNI to encourage active and thoughtful delegation. Frax will follow Uniswap’s decision, but ultimately it’s up to the community to make the decision, Kazemian told CoinDesk.

Frax Finance develops FRAX, a decentralized USD-pegged stablecoin. The Frax protocol is governed by a native token. FXS

+7.15%
What users can stake to earn money veFXS, an illiquid token. Frax Finance has discontinued staking rewards for veFXS holders in 2022.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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