Frax Finance Announces Proposal Discussion to Convert FXTL Points to FXS
2024-07-03 12:25:29
Message stablecoin protocol frax finance governance theory release fxtldesk3cryptocurrencydesktopCrypto News
On July 3rd, Frax Finance, a stablecoin protocol, published a proposal to convert FXTL credits to FXS in its governance forum. The proposal consists of two parts, an initial conversion, and an FXTL conversion to run every year thereafter. 5 million FXS will be used for this purpose, and after the initial conversion of FPIS, its market value will reach 93 million FXS. Thereafter, 1 million FXS unlocks will be designated for FXTL credits conversion every year.
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