The first part of the Frax Singularity Roadmap proposal has been approved, and 250 million FRAX will be distributed in cooperation with Ethena in the future

According to official news, the first part of Frax Finance's Singularity roadmap proposal has passed the community vote, and the changes it will bring are as follows: First, with the FRAX stablecoin fully collateralized, veFXS holders' revenue sharing can start as early as this Wednesday, and FXS repurchases through the Fraxtal liquidity engine will also start as early as next week. Second, the cap rate of sFRAX will be increased to 50% APY, with a minimum interest rate of 5.40%. This means that sFRAX will have a benchmark interest rate in DeFi until most of the FRAX supply is collateralized, after which the APY converges to 5.40% with 100% supply of sFRAX. Frax also cooperated with Ethena to allocate 250 million FRAX to the sUSDe lending pool in the lending protocol Morpho and POL in Fraxlend and Curve to expand Frax's cash flow, increase sFRAX APY, and increase sUSDe＜＞FRAX liquidity. In the coming weeks, sfrxETH will be supported by EigenLayer AVS validators through a strategic partnership, providing points and additional benefits to holders. In addition, to give the community more time to stake veFXS on Fraxtal, the second snapshot date for FXTL points will be moved to 07:59 on April 18.