Deploy Frax aggregator and silos on X Layer


This proposal seeks to whitelist the Frax Silo on the Sturdy UI on X Layer. X Layer is OKX’s zkEVM Layer 2 network built on Ethereum, powered by Polygon CDK.


Enable users to borrow FRAX using sfrxETH collateral or gain leveraged long exposure to sfrxETH.


Frax Protocol issues innovative, decentralized stablecoins and contains subprotocols to support them. The Frax Protocol currently issues 3 stablecoins: FRAX, FPI, and frxETH. The Frax Protocol also has 3 subprotocols within it that integrate its stablecoins: Fraxlend, Fraxswap, and Fraxferry.


Frax will bootstrap and incentivise the Silo with $FXS rewards to kickstart the market and Sturdy Finance to match with $STURDY incentives.


Lending/borrowing asset: FRAX

Collateral asset: sfrxETH

LTV: TBD (Open to discussion in the forum)

Liquidation fee: TBD (Open to discussion in the forum)

Oracle: API3
The sfrxETH/FRAX feed can be derived from the below feeds as frxETH is pegged to and redeemable for ETH

sfrxETH/frxETH : 0x726903CBF82c54B20583858576a5049d3A1077d7

ETH/USD: 0x7501f1Aa71d409D1D4732b98178beE5Ad83d467B

FRAX/USD: 0xAA7710e07C1f60483625867a43B91914137a4DA2

Network: X Layer Mainnet
Lending asset: FRAX
Initial whitelisted silos: sfrxETH

About the author:
The author is a contributor to X Layer and is not a representative of the FRAX team.

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