PrcryptoA complete overview of Spicenet
Spicenet is an optimistic sovereign rollup built on Celestia and designed specifically for the PepperDEX derivatives exchange. It uses the Sovereign SDK, which allows developers to create rollups on various data availability layers like Celestia, Solana, and Bitcoin. Spicenet prioritizes speed and reliability with a goal of achieving soft confirmation times under 1ms and end-to-end latency between 30–200ms for users. This article will explore Spicenet’s design choices, architecture, community...
PrcryptoA very simple guide to t3rn network
T3RN enables cross chain smart contract executions. It provides for easy interoperability, fail safe transactions and composability. They recently secured a polkadot parachain slotEasy interoperabilityThe challenge with many cross chain solutions is that you are dealing with multiple virtual machines, different execution and consensus etc. T3rn enables developers to built smart contracts that are executable on multi blockchain easily like building smart contracts on Ethereum It supports Solid...
PrcryptoDoubleZero's Vision for a Decentralized, High-Performance Internet Infrastructure
In this piece i attempt to explain Double Zero, the main themes, important ideas, and key facts around DoubleZero, a new initiative aiming to build a faster and more reliable internet infrastructure optimized for distributed systems, particularly blockchains.1. The Problem: Limitations of the Existing Public Internet for High-Performance Distributed SystemsThe current public internet, while a marvel of global connectivity, faces inherent limitations when it comes to the demanding needs of mod...
Crypto|Research|Bounty|Airdrops|Testnets
PrcryptoA complete overview of Spicenet
Spicenet is an optimistic sovereign rollup built on Celestia and designed specifically for the PepperDEX derivatives exchange. It uses the Sovereign SDK, which allows developers to create rollups on various data availability layers like Celestia, Solana, and Bitcoin. Spicenet prioritizes speed and reliability with a goal of achieving soft confirmation times under 1ms and end-to-end latency between 30–200ms for users. This article will explore Spicenet’s design choices, architecture, community...
PrcryptoA very simple guide to t3rn network
T3RN enables cross chain smart contract executions. It provides for easy interoperability, fail safe transactions and composability. They recently secured a polkadot parachain slotEasy interoperabilityThe challenge with many cross chain solutions is that you are dealing with multiple virtual machines, different execution and consensus etc. T3rn enables developers to built smart contracts that are executable on multi blockchain easily like building smart contracts on Ethereum It supports Solid...
PrcryptoDoubleZero's Vision for a Decentralized, High-Performance Internet Infrastructure
In this piece i attempt to explain Double Zero, the main themes, important ideas, and key facts around DoubleZero, a new initiative aiming to build a faster and more reliable internet infrastructure optimized for distributed systems, particularly blockchains.1. The Problem: Limitations of the Existing Public Internet for High-Performance Distributed SystemsThe current public internet, while a marvel of global connectivity, faces inherent limitations when it comes to the demanding needs of mod...
Crypto|Research|Bounty|Airdrops|Testnets
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Frax finance is a suite of DeFi protocols aimed at giving the best of experiences in the crypto world.
⁃ began as Decentral bank
⁃ Rebranded to Frax Finance
The empire consists of a stablecoin, an AMM, a lending protocol, a bridge, a liquid staking derivative and an upcoming layer 2 chain.
It’s was partially backed by USDC and algorithmic allowed to float but after the TerraUSD collapse, it reverted to been fully collaterized by USDC. The ecosystem has 3 stablecoins, according to their documentation
The Frax Protocol currently issues 3 stablecoins. FRAX, a USD pegged asset. The Frax Price Index (FPI) stablecoin, the first stablecoin pegged to a basket of consumer goods creating its own unit of account separate from any nation state denominated money. FraxEther (frxETH), pegged to ETH for use as a replacement for WETH in smart contracts.
It is the first AMM to be built using the Paradigm TWAMM(time weighted automated market maker).
https://app.frax.finance/swap/main
It gives for the execution of large orders over time with little to minimal price fluctuations
It is used for the buyback of FXS from the market
Works like Aave or other lending protocols, you can borrow FRAX against assets as collateral.
https://app.frax.finance/fraxlend/available-pairs
Frax finance products are deployed across multiple chains, more than 12+ chains, the ferry is to allow for seamless bridging of Frax assets across any supported chains.
It’s an in-house bridge .
Appeared October 2022, since then it’s been growing aggressively.
https://facts.frax.finance/frxeth
The v2 of FrxETH will see all Liquid staking derivatives LSDs as lending Ethereum to validators , users deposits Ethereum in any LSD form, it gets lent to Node operators after they have dropped some form of collateral. Stalkers receive interest payments as a form of yield.
It is the governance token of the protocol, it accrues fees, revenue and excess collateral value and gives it back to veFXS holders
⁃ It will be a hybrid rollup( it will combine the best of optimistic and zero knowledge rollups)
⁃ It will integrate Frax ferry to expose the Frax empire to the new chain
⁃ It will use FrxETH as gas
⁃ These fees will be paid to holders of veFXS which means more profit accrual to those who locked FXS
⁃ More use of FrxETH will reduce the staked supply of FrxETH and increase the yield for staked FrxETH hodlers
⁃ It plans to use account abstraction accounts
⁃ It’s expected to launch by 2024
Reader, how do you see Frax Finance in the next few years.
originally published here by me
Frax finance is a suite of DeFi protocols aimed at giving the best of experiences in the crypto world.
⁃ began as Decentral bank
⁃ Rebranded to Frax Finance
The empire consists of a stablecoin, an AMM, a lending protocol, a bridge, a liquid staking derivative and an upcoming layer 2 chain.
It’s was partially backed by USDC and algorithmic allowed to float but after the TerraUSD collapse, it reverted to been fully collaterized by USDC. The ecosystem has 3 stablecoins, according to their documentation
The Frax Protocol currently issues 3 stablecoins. FRAX, a USD pegged asset. The Frax Price Index (FPI) stablecoin, the first stablecoin pegged to a basket of consumer goods creating its own unit of account separate from any nation state denominated money. FraxEther (frxETH), pegged to ETH for use as a replacement for WETH in smart contracts.
It is the first AMM to be built using the Paradigm TWAMM(time weighted automated market maker).
https://app.frax.finance/swap/main
It gives for the execution of large orders over time with little to minimal price fluctuations
It is used for the buyback of FXS from the market
Works like Aave or other lending protocols, you can borrow FRAX against assets as collateral.
https://app.frax.finance/fraxlend/available-pairs
Frax finance products are deployed across multiple chains, more than 12+ chains, the ferry is to allow for seamless bridging of Frax assets across any supported chains.
It’s an in-house bridge .
Appeared October 2022, since then it’s been growing aggressively.
https://facts.frax.finance/frxeth
The v2 of FrxETH will see all Liquid staking derivatives LSDs as lending Ethereum to validators , users deposits Ethereum in any LSD form, it gets lent to Node operators after they have dropped some form of collateral. Stalkers receive interest payments as a form of yield.
It is the governance token of the protocol, it accrues fees, revenue and excess collateral value and gives it back to veFXS holders
⁃ It will be a hybrid rollup( it will combine the best of optimistic and zero knowledge rollups)
⁃ It will integrate Frax ferry to expose the Frax empire to the new chain
⁃ It will use FrxETH as gas
⁃ These fees will be paid to holders of veFXS which means more profit accrual to those who locked FXS
⁃ More use of FrxETH will reduce the staked supply of FrxETH and increase the yield for staked FrxETH hodlers
⁃ It plans to use account abstraction accounts
⁃ It’s expected to launch by 2024
Reader, how do you see Frax Finance in the next few years.
originally published here by me
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