According to Coindesk news Frax Financefor token holders Uniswap is developing a similar reward mechanism.
At this point, Frax Finance’s core team is considering an offer to share protocol revenue with stakers of the FXS token.
Sam Kazemian, CEO and founder of Frax, in an interview with CoinDesk The core team behind DeFi protocol Frax Finance said that leading decentralized exchange (DEX) Uniswap’s proposal to distribute a portion of protocol fees to stakers of its native token is also being considered for the FXS token.
While Frax CEO stated that it would be up to the community to approve the proposal, “We will follow Uniswap’s lead in offering this. “It will be up to the community to pass this.” said.
He made the following statements in his post from his Frax Finance X account:
“And should FXS holders vote to distribute Frax Protocol revenue back to FXS stakers?
Frax Finance is generating 8-figure annual revenues and growing, much of it now protected in treasury. Is it time to open this up again?”
As you may remember, last week Uniswapwhich stakes and transfers staked tokens UNI He submitted a proposal proposing to reward token holders with a portion of the DEX’s fee earnings. This offer was welcomed by the community and led to an increase in the price of UNI by more than 70%.
Following the news, Frax Finance’s native token FXS It increased by 17%.
*This is not investment advice.
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