- Buy Crypto
- Markets
Futures- Spot
- Copy Trade
- Earn
- More
Frax: USDH Buyback Ratio to Be Determined by the Community, Ecosystem Data to Remain Transparent
BlockBeats News, September 9th, Frax Vice President of Growth, Sean Kelley, stated at the "USDH Stablecoin Roundtable" hosted by Hyperliquid that regarding the question of "whether to allocate funds from revenue for buyback," he believes that the specific allocation ratio should be determined by the community. Frax strongly hopes to address this issue through governance. This may require finding a balance in the following areas: allocating some funds for buyback to support further growth of USDH and improving other areas in the ecosystem that are considered weaker. The specific percentage should ultimately be determined by the community.
As for the transparency of revenue distribution, Frax places great emphasis on data visualization, hoping to ensure that fund flows can be transparently traced. Data will be published on a dashboard for user access, essentially tracking everything on-chain in the ecosystem. Regarding buyback distribution, Frax believes that conducting it quarterly may be reasonable, and all operations will be executed through smart contracts.
BlockBeats previously reported that last Friday, Hyperliquid announced the launch of a "US dollar stablecoin that is Hyperliquid-first, aligned with Hyperliquid principles, and compliant," and reserved the USDH ticker for it. Subsequently, several stablecoin issuers, including Paxos, Frax Finance, Ethena Labs, and Agora, have rapidly entered the competition for the right to issue the USDH stablecoin.
You may also like
Make Probability an Asset: A Forward-Looking Perspective on Predictive Market Agents
Consumer application issues
Arthur Hayes: The flames of war in the Middle East rise, Bitcoin is bullish
Legendary investor Naval: In the AI era, traditional software engineers have no value?
More absurd than knowing about the war in advance is knowing in advance about the assassination of Soleimani
Key Market Insights on March 2nd, how much did you miss?
How to systematically track high-performing addresses on Polymarket?
From Stanford Lab to Silicon Valley Streets: How OpenMind is Solving the "Last Mile" Problem of the Machine Economy?
PlanX: Reconstructing On-Chain Execution with AI, Moving Towards a New Paradigm
US Judge Allows Binance Unregistered Token Lawsuit to Advance
Key Takeaways: A federal judge in Manhattan dismissed Binance’s petition to resolve a securities lawsuit through private arbitration,…
Crypto VC Paradigm Plans $1.5 Billion Expansion into AI and Robotics
Key Takeaways: Paradigm is setting up a new $1.5 billion fund to explore AI, robotics, and other emerging…
Ethereum Smart Accounts Set to Launch Within a Year, According to Vitalik Buterin
Key Takeaways: Ethereum’s “account abstraction” or smart accounts might be introduced in the coming year through the Hegota…
Bitcoin Recovers After Iran Conflict Shocks Market, Reverses $5K Fall in Just 24 Hours
Key Takeaways: Bitcoin dropped to approximately $63,000 amid tensions but rebounded to $68,200 within a day. Volatility led…
Former Mt. Gox CEO Suggests Hardfork to Retrieve $5.2 Billion in Bitcoin
Key Takeaways: Mark Karpelès, former CEO of Mt. Gox, proposes a Bitcoin network hard fork to access nearly…
South Korea National Tax Service’s Mistake Resulted in $4.8 Million Crypto Loss
Key Takeaways South Korea’s National Tax Service inadvertently exposed private keys, resulting in a $4.8 million crypto loss.…
Morgan Stanley Seeks National Trust Charter for Cryptocurrency Custody
Key Takeaways: Morgan Stanley has initiated a significant step toward digital asset management by applying for a national…
Solana Price Outlook: Major ETF Inflows Hint at Institutional Moves
Key Takeaways: Solana has experienced substantial ETF inflows, prompting speculation about institutional buy-in. On February 25, Solana recorded…
Bitcoin Price Prediction: Wikipedia Founder Warns BTC Could Plunge Below $10K — Should Investors Worry?
Key Takeaways Wikipedia co-founder Jimmy Wales warns Bitcoin might decline to below $10,000, prompting a bearish outlook. Wales…
App