Frax DAO Secures 1 Million FRAX For Epic CRV Takeover
- Proposal for Frax DAO to use 1 million FRAX from DAO fund to purchase CRV tokens.
- Strategic move to boost Frax development and strengthen Curve partnership.
- Innovative OTC or cvxCRV transaction to fuel growth of Frax Finance ecosystem.
Snapshot page has unveiled a groundbreaking outcome for the Frax DAO.
The eagerly anticipated proposal titled “buy CRVs with Frax DAO treasury funds” has triumphantly garnered unanimous support, ringing in at an impressive 100%.
The resolute endorsement of this proposal by the Frax DAO community signifies a pivotal moment in the evolution of the Frax ecosystem. With the proposal’s resounding success, the stage is set for a strategic maneuver that could potentially reshape the dynamics of the crypto landscape.
The visionary proposal outlines a bold move that involves the utilization of 1 million FRAX from the DAO fund. This formidable resource will be wielded to acquire CRV tokens, a significant development that aligns with the broader vision of promoting Frax’s evolution within the crypto ecosystem.
The execution of this proposal will see the Frax DAO engage in a sophisticated operation, either through an over-the-counter (OTC) mechanism or via cvxCRV, employing a locked contract to facilitate the transaction. This multifaceted approach underscores the meticulous planning behind the move, aimed at ensuring the optimal execution of the strategy.
Beyond the immediate transactional implications, this move holds a dual purpose. On one hand, it reinforces the ties between Frax DAO and the esteemed founders of Curve, forging a mutually beneficial alliance. On the other, it directly contributes to the advancement of the Frax Finance ecosystem, underpinning its growth trajectory.
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