Gamma Partners With Frax And Convex Finance
Gamma partners with Frax Finance and Convex Finance to manage the FPI-FRAX Uniswap v3 pool on Optimism
The Gamma Partners With Frax And Convex Finance. Gamma are pleased to announce that their proposal to add the Gamma FPI-FRAX 0.05% Uniswap v3 pool as a Frax gauge has passed! Liquidity providers of this pair will also be able to stake their LP positions on Convex to earn boosted FXS rewards. This pool will be manage on Optimism, bringing more liquidity, market coverage, and trading volume for FPI and FRAX to the Optimism ecosystem. The addition of the Gamma managed Frax gauge was widely supported by both the Frax and Convex communities with 27 million FXS votes in favor of the proposal on Frax and 9.6 million CVX votes in favor on Convex.
Convex Finance strives to optimize opportunities for liquidity providers on Frax by allowing them to earn trading fees and boosted FXS rewards for their LP positions when staking Frax LP tokens on Convex Finance.
During a bear market condition in crypto, the inflation-indexed stablecoin of FPI and the low impermanent loss pair of FPI-FRAX offers a compelling yield-bearing strategy for Gamma liquidity providers. They will be able to earn trading fees from FPI-FRAX on Uniswap v3 as well as earn boosted FXS rewards by staking their liquidity positions on Convex and Frax. Furthermore, the low gas fee environment of Optimism will make this pair even more attractive for all LPs.
Partnership
This partnership with Frax Finance & Convex, they believe that there will be many future opportunities for collaboration with these protocols. They are also currently working with the Frax tech team on integration. They will make an announcement when the FPI-FRAX pair will be ready for depositing on Optimism.
About Frax Finance
Frax is the first fractional-algorithmic stablecoin protocol. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum and other chains. Goal of Frax to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
About Convex
Convex allows Curve.fi liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves. Liquidity providers can receive boosted CRV and liquidity mining rewards with minimal effort.
About Gamma
Gamma a protocol designed for the non-custodial, automated, active management of concentrated liquidity pools. Gamma’s protocol is built into a Web Application hosted on the main Gamma site. This protocol is available to both the Public, and Pro entities like DAOs, treasuries, and protocols.
