Founder and CEO of decentralized finance protocol Frax Finance, Sam Kazemian, stated in an interview with the foreign media “CoinDesk” that the core team of Frax may soon follow the proposal of decentralized exchange Uniswap to allocate a portion of protocol fee revenue to its native token stakers.
The governance and utility token of the Frax ecosystem is FXS, and users who lock FXS will receive veFXS tokens, allowing them to retain their utility and governance rights. Holders can also stake veFXS tokens on the Ethereum mainnet and on Frax’s Layer 2 network Fraxtal.
Kazemian mentioned in the interview that the proposal mentioned above will suggest sharing protocol revenue with veFXS token stakers, and whether it will be implemented will depend on the community. The Frax community had previously voted in 2022 to stop revenue sharing.
Frax Finance announced last Saturday on X platform that according to TradingView data, after CoinDesk released this news, the price of FXS briefly surged over 15% and has since fallen back to around $9.
Related report: “Uniswap Foundation proposes to distribute protocol fees to UNI stakers, UNI soars over 50%”