Frax Finance Publishes Discussion of Proposal to Convert FXTL Points to FXS
July 3, 2011 - Stablecoin protocol Frax Finance has posted a discussion of a proposal to convert FXTL points to FXS in its governance forum. The proposal consists of two parts, an initial conversion, and an FXTL conversion that would run annually thereafter. Five million FXS will be used for this purpose, and FPIS will have a market capitalization of 93 million FXS once the initial conversion is completed, after which one million FXS unlocked will be designated for the FXTL Points conversion each year.
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