Turned to PIP-42 – Vote: Snapshot
Frax Finance has developed the world’s first fractionally collateralized stablecoin. FRAX remains the only fractional-algorithmic stablecoin to accomplish the feat of maintaining its peg.
Similar to Pickle, Frax has adopted a vote-locking system veFXS, inspired by Curve’s system (like us) and which is analogous to DILL. veFXS entitles FXS depositors to a portion of the protocol’s revenues as well as access to “boosted” farm rewards.
Pickle is currently interested in creating a veFXS “backscratcher” Jar (inspired by Yearn’s work). This is mutually beneficial to both our protocols as Pickle helps facilitate users locking up FXS, resulting in benefits from boosted FXS farming rewards.
Sam, the founder of Frax, has been supportive of whitelisting Pickle’s smart contracts so we may achieve the above.
Frax has indicated that they would like to lock PICKLE rewards for DILL. Frax would first have to be added to the DILL whitelist to be able to participate in DILL.
This proposal, if passed, entails adding Frax Finance to the DILL whitelist. Frax Finance is a highly respected DeFi protocol and I believe that both our protocols would greatly benefit from reciprocal whitelistings and stronger collaboration.
I welcome any comments or suggestions anyone may have.