Frax Finance plans to publish proposed revenue sharing within 10 days: ‘It will be a ton of revenue’

Decentralized stablecoin protocol Frax FRAX

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Treasury is considering reinstating rewards for token stakers within the next two weeks.

This move follows Uniswap’s proposal to reward UNI holders with rewards. Although Uniswap would implement the rewards for the first time, Frax Finance would reverse an earlier decision to discontinue the rewards, Frax founder Sam Kazemian told The Block.

“Yes, they have voted before to stop the revenue share. But now we feel this is the right time to flip the big switch. It will bring in a lot of revenue,” Kazemian said, adding adding that implementation would take place. in 10 days.

Connection to Uniswap

On February 24, Frax announced asked on social media platform .Time to turn it back on?”

A day earlier, Uniswap proposed giving its users rewards for staking its native token UNI to encourage active and thoughtful delegation. Frax would follow Uniswap’s decision, but it is up to the community to ultimately decide on the move, Kazemian told Coin Bureau.

Frax Finance develops decentralized USD-pegged stablecoin FRAX. The Frax protocol is managed by its own token FXS

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that users can use to earn veFXS, an illiquid token. Frax Finance has disabled staking rewards for veFXS holders in 2022.