Disclaimer: This is not official information, only what I collected from looking at the contracts and talking to ppl. The purpose of this post is to try to explain a little bit of how Frax works and its Protocol Controlled Value. Things I won’t explain: Collateral Ratio, Frax Minting and Redemption, Frax Stability Mechanism. TL;DR; Frax owns more than $1 for each Frax that needs backing.What is Frax?In the recent time we have seen a lot of blog posts and Twitter threads explaining how the par...

Disclaimer: This is not official information, only what I collected from looking at the contracts and talking to ppl. The purpose of this post is to try to explain a little bit of how Frax works and its Protocol Controlled Value. Things I won’t explain: Collateral Ratio, Frax Minting and Redemption, Frax Stability Mechanism. TL;DR; Frax owns more than $1 for each Frax that needs backing.What is Frax?In the recent time we have seen a lot of blog posts and Twitter threads explaining how the par...