FRAX Finance (FRAX) and Sol Invictus take flight.
FRAX joins the ever growing treasury of Sol Invictus. Nocturnal creatures, joining forces to guide Sol Invictus towards a brighter future.
(◎,◎)
Out of the night that covers me, Black as the pit from pole to pole, I thank whatever gods may be For my unconquerable soul.
In the fell clutch of circumstance I have not winced nor cried aloud. Under the bludgeonings of chance My head is bloody, but unbowed.
Beyond this place of wrath and tears Looms but the Horror of the shade, And yet the menace of the years Finds and shall find me unafraid.
It matters not how strait the gate, How charged with punishments the scroll, I am the master of my fate,
I am the captain of my SOL.
(◎,◎)
Frax Finance and Sol Invictus, adding another piece to Decentralized Puzzle
Sol Invictus is pleased to offer FRAX bonds, with a partnership between Invictus DAO and Frax Finance. Frax Finance is the creator of Frax (FRAX) and Frax Shares (FXS), decribing itself as the “… the world’s first fractional-algorithmic stablecoin.” Furthermore, Frax finance is the first protocol to introduce the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically. Similar to UST, FRAX will allow Invictus DAO to accelerate the transition away from centralized stable coins such as USDC and USDT that the Solana DeFi ecosystem so heavily relies on. With FRAX in our treasury, we can not only improve the quality of our stable assets, but move towards a more decentralized future on Solana. Better stables, brighter future, out of the darkness of the night sky.
When will the bond offering go live?
We are targeting the bond offering to be live in the next 24 hours. Updates will be given just prior to launch in our Discord!
How to purchase FRAX
The best way to purchase FRAX for the bond offering is to use Jupiter Aggregator. With Jupiter Aggregator, ensure you select the correct version of the wormhole FRAX, not wFRAX_v1 or use the link below:
How to move your FRAX to Solana
Moving your FRAX to Solana is relatively simple using Wormhole. With wormhole, select the chain that you hold FRAX on, and simply use the token bridge between that chain and Solana to bring the FRAX across. Please make sure you are using Wormhole V2 when doing this. For a visual guide on how to do this:
More than just a bond offering, pt. 2.
FRAX has proposed to bond 250,000 FRAX to show support for Invictus DAO. From Terra’s forum post, with FRAX’s forum post to be released at a later date:
Sol Invictus is the decentralized reserve currency built on Solana that aims to be more than just an Olympus fork. Invictus has done a great job putting their treasury to work, they have a market cap of $120m and treasury of $70m.
To date the Invictus treasury owns nearly $50m in USDC/USDT. Invictus, with support from Terra and Frax, plans to introduce UST, UST-IN LP, and FRAX bonds to slowly replace and overtake the USDC/USDT in their treasury. This creates another black hole for UST from which it will never be sold. To show support this proposal asks the Terra community pool to bond $250k in UST, and Frax Finance will be doing the same.
Total funds: 250k UST (With FRAX matching)
Transparency plan: Follow up posts in the Agora thread when bond transaction is done and bi-weekly updates on UST in the Invictus treasury for two months.
We are always watching. (◎,◎) Spread this message far and wide for all to be seen (◎,◎).
Sol Invictus is the captain of my SOL. Sol Invictus brings me IN, helps me grow, and leads me towards where I must go. You have looked into our (◎,◎) and we have looked back at yours.
Follow us on Twitter: @invictusdao
Our discord: https://discord.gg/invictusdao
Frax Finance: https://frax.finance/
Jupiter Aggregator: https://jup.ag/
