frxeth

ChainCatcher news, the first part of the Singularity roadmap proposal from Frax Finance has opened community voting, with the voting deadline set for March 31 at 8:17.This includes the launch of Fraxtal; all Frax assets, including FRAX, sFRAX, frxETH (and new Frax assets), will be issued on Fraxtal first; the launch of 23 L3s within the next year to kickstart the Fraxtal Nation community; and new FXS Singularity token economics.

ChainCatcher news, the Ethereum re-staking protocol EigenLayer will introduce three new liquid staking tokens (LST) on January 30 at 04:00, namely Frax Ether (sfrxETH), Mantle Staked Ether (mETH), and Liquid Collective Staked Ether (LsETH).At that time, EigenLayer will reopen, allowing re-staking with an existing cap of 200,000 ETH for each LST.

ChainCatcher message, Aave has passed the community proposal vote to "launch sfrxETH on the Aave V3 Ethereum network," with a supply cap of 40,000 tokens, a borrowing cap of 4,000 tokens, and an LTV of 71%.

ChainCatcher news, Frax founder Sam Kazemian responded to users in the official Telegram about "the role of frxETH and FXS in FraxChain," stating that the Gas token for FraxChain is frxETH, and the role of the FXS token is as a staking token for the FraxChain network validators, which can be used to capture validator income.Previous news, the Ethereum L2 network Fraxchain's testnet aims to go live in early January 2024. Fraxchain is a computation Rollup, not an application chain.

ChainCatcher message, the LSD stablecoin protocol Prisma Finance stated on social media that the new debt ceiling has been activated, increasing the debt ceiling for wstETH, rETH, and sfrxETH from 6 million mkUSD to 9 million mkUSD, and raising the debt ceiling for cbETH from 2 million mkUSD to 3 million mkUSD.Currently, wstETH has reached its debt ceiling.

ChainCatcher message, the LSD stablecoin protocol Prisma Finance reached its debt ceiling for wstETH and sfrxETH just hours after launching on the Ethereum mainnet. Users can still mint mkUSD using rETH and cbETH as collateral.Currently, the total value of collateral in Prisma Finance has exceeded 30 million dollars, with total debt at 16.4 million dollars, leaving only 360 mkUSD available for minting.

ChainCatcher news, official data shows that the issuance of Frax Finance's liquid staking product frxETH is nearly 250,000 pieces, with a total issuance of approximately 247,508 frxETH, valued at about 460 million USD.In addition, DefiLlama data shows that the amount of ETH staked in frxETH is currently ranked fourth, only behind Lido, Coinbase, and Rocket Pool, with a market share of 2.27%.

ChainCatcher news, crypto researcher Winter Soldier tweeted that the first 1 million Curve native stablecoin crvUSD was generated by collateralizing the Ethereum liquid staking product sfrxETH under Frax Finance.In addition, DefiLlama data shows that as of now, the TVL of crvUSD is approximately 1.82 million USD. (source link)