Frax Finance

For more information about this proposal, please see the full discussion here: https://gov.frax.finance/t/frax-x-eternity/1133

Proposal

Eternity invites FRAX to participate in the Eternity seed round as a protocol DAO. This round includes investments from PIF.vc.

FXS Holders benefit as a direct result since GLORY tokens would go toward diversifying the protocol balance sheet. To align incentives, we are committed to using FRAX-GLORY as our pair of choice and intend to apply for an FXS gauge in the future. We find that the Frax protocol is building the most robust monetary system in all of DeFi and seek to become positive-sum partners well into the future.

GLORY is the revenue-bearing asset and Eternity governance token. GLORY can be used to purchase items. GLORY is primarily rewarded in-game for completing significant challenges or special events and can be staked in exchange for experience potions - important consumables which can help level up Heroes. GLORY stakers also qualify for rare NFT airdrops, in-game achievements, and access to special challenges and Heroes. Finally, stakers receive voting rights on the future direction of game content and the grander story of Eternity.

Investment Terms

$500,000 allocation for FRAX Protocol

$0.66/GLORY

$33M Fully Diluted Value

Investment paid for in AMO Profits (approximately 12 hours of protocol profit)

6 month lock, then 2 Year Vest with quarterly cliffs

Actions

For: Invest in Eternity & attain the full $500k allocation

Against: Do nothing