Discover and read the best of Twitter Threads about #sfrxETH
Most recents (3)
Wombex @WombexFinance has been making significant strides in recent weeks, establishing themselves as a force to be reckoned with in the world of #DeFi
I witnessed that team has been very active since its launch on @arbitrum
A recap of the most important milestones till now 👇
I witnessed that team has been very active since its launch on @arbitrum
A recap of the most important milestones till now 👇
1⃣ New Pools Added
🔹On April 8th, @WombexFinance pools were added to @DeBankDeFi, followed by new pools & yields added to @DefiLlama on April 12th
🔹On the same day, #Wombex added $BOB, $Frax, $MAI, and $MIM pools to the #Arbitrum Dapp
🔹On April 8th, @WombexFinance pools were added to @DeBankDeFi, followed by new pools & yields added to @DefiLlama on April 12th
🔹On the same day, #Wombex added $BOB, $Frax, $MAI, and $MIM pools to the #Arbitrum Dapp
2⃣ Increasing TVL
🔹Just a day later on April 9th, #Wombex joined #Arbitrum X @WombatExchange AMA on Twitter, which helped to increase its visibility
🔹By April 29th, #Wombex had passed a total of $70M TVL on its platform, indicating strong growth & adoption
🔹Just a day later on April 9th, #Wombex joined #Arbitrum X @WombatExchange AMA on Twitter, which helped to increase its visibility
🔹By April 29th, #Wombex had passed a total of $70M TVL on its platform, indicating strong growth & adoption
Last month, @fraxfinance launched their liquid staking service and related token $frxETH
A thread 🧵to talk about $frxETH, and why I think it goona be the biggest challenger for Lido and $stETH 👇
Keep reading!
A thread 🧵to talk about $frxETH, and why I think it goona be the biggest challenger for Lido and $stETH 👇
Keep reading!
(1)
Let me introduced the mechanism of $frxETH first.
Users can deposit their ETH into the validator ran by frax finance and mint $frxETH.
Different with Lido’s stETH rebase mechanism, $frxETH is constant and holding $frxETH cannot generate yield
Let me introduced the mechanism of $frxETH first.
Users can deposit their ETH into the validator ran by frax finance and mint $frxETH.
Different with Lido’s stETH rebase mechanism, $frxETH is constant and holding $frxETH cannot generate yield
(2)
Two choice for users to earning rewards
First. Staking $frxETH to mint sfrxETH. sfrxETH is ERC-4626 vault and accumulates staking yield of Frax ETH validators.
The rates of frxETH:sfrxETH is changeable, holders will earn reward when redeem frxETH back.
Curreny APY is 4.72%
Two choice for users to earning rewards
First. Staking $frxETH to mint sfrxETH. sfrxETH is ERC-4626 vault and accumulates staking yield of Frax ETH validators.
The rates of frxETH:sfrxETH is changeable, holders will earn reward when redeem frxETH back.
Curreny APY is 4.72%
Let me provide a guide on $frxETH staking and explain why it's going to be the most attractive liquid staking derivative around.
@fraxfinance recently opened up the minting of $frxETH here: app.frax.finance/frxeth/mint
This allows you to stake your $ETH into a Validator ran by Frax.
@fraxfinance recently opened up the minting of $frxETH here: app.frax.finance/frxeth/mint
This allows you to stake your $ETH into a Validator ran by Frax.
Once you've minted your $frxETH you can stake it and receive #sfrxETH.
sfrxETH represents the staked frxETH + yield accrued. This means that over time, the underlying value of sfrxETH keeps increasing.
sfrxETH represents the staked frxETH + yield accrued. This means that over time, the underlying value of sfrxETH keeps increasing.
To put this into an example:
If APR were to be a consistent 8%, then after staking 1 sfrxeth for 1 full year, you'd be able to swap back your 1 sfrxETH for 1.08 $frxETH.
If APR were to be a consistent 8%, then after staking 1 sfrxeth for 1 full year, you'd be able to swap back your 1 sfrxETH for 1.08 $frxETH.
