Authors

Frax Core Team

Summary

Authorize Fraxlend AMO to deposit minted FRAX into the following Fraxlend pairs with the mentioned maximum authorized allocation.

Fraxlend Pair Name	Chain	Fraxlend Pair Address	Max Authorized Allocation
sfrxETH/FRAX - Variable Rate V2	BSC	TBD	5,000,000 FRAX

Background and Motivation

Fraxlend is a lending platform that allows anyone to create a market between a pair of ERC-20 tokens. Each pair is an isolated, permission-less market that allows anyone to create and participate in lending and borrowing activities. This protocol is creating new financial opportunities for the FRAX community.

Automated Market Operations (AMOs) make FRAX one of the most potent stablecoin protocols, creating maximum flexibility and opportunity without altering the base stability mechanism that made FRAX a leader in the stablecoin space. So far, we have deployed multiple AMOs, including lending AMOs on the Fraxlend, Aave, and Rari protocols.

Adding more pairs into Fraxlend AMO on layer two chains is the next step in this vision, allowing the protocol to mint FRAX backed by over-collateralized debt.

Voting

• For: Authorize Fraxlend AMO to deposit minted FRAX into the mentioned Fraxlend pair with the mentioned max authorized allocation.
• Against: Do nothing.