BB-FUSE-02: Add FRAX for Borrowing
FRAX is an algorithmic stablecoin that is partially collateralized by USDC at a rate determined by the floating market price of FRAX. When FRAX dips below $1, its USDC collateralization ratio increases until the market returns to parity; when above $1, its USDC collateralization ratio decreases accordingly.
FRAX has held its peg remarkably well over time, even during high volatility periods in the market:
FRAX makes for an interesting addition to our Fuse pool because of a program they refer to as an Algorithmic Market Operation. It would allow FRAX to periodically mint stablecoins into our Fuse pool to satisfy demand.
FRAX could prove to be a powerful partner, especially if our Fuse Pool demand for stablecoins quickly outstrips supply with SY jTokens and SA senior tokens getting added over the coming weeks.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0xa8bF...219305 | 65,726 | Yes |
 0xdDfd...d96a29 | 9,703 | Yes |
 0xD228...789702 | 8,410 | Yes |
 0x30DE...9eCD04 | 4,807 | Yes |
 0x20C7...3E0935 | 3,851 | Yes |
VOTE POWER
Proposal Status
- Mon August 23 2021, 04:30 pmVoting Period Starts
- Wed August 25 2021, 12:30 pmEnd Voting Period
Current Results
1-Yes
101,516.17