Frax Finance ¤
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English 🇰🇾
  • Frax Ecosystem Overview
  • FXS & veFXS
    • Frax Shares (FXS)
    • veFXS
    • Gauges
    • FXS Distribution
    • FXS Smart Contract & Addresses
  • GOVERNANCE
    • Frax Governance Overview
    • How It Works
    • Advanced Concepts
    • Fraxtal Snapshot Voting
  • FRAX V1 - ORIGINAL
    • Original Design
    • Staking Contracts
    • FRAX ABI & Token Addresses
    • Frax V1 Pool ABI & Addresses
    • Core Frax Multisigs
  • FRAX V2 - Algorithmic Market Operations (AMO)
    • AMO Overview
    • AMO Minter
    • Collateral Investor
    • Curve
    • Uniswap v3
    • FRAX Lending
    • Decentralization Ratio (DR)
  • FRAX V3 - 100% CR AND MORE
    • Overview
    • Fraxtal
    • AMOs
    • RWAs
    • sFRAX
    • FXBs
    • sFRAX Token Addresses
    • sFRAX & FXB Multisigs
  • Bridging
    • Fraxferry
    • LayerZero x Stargate
    • Fraxtal Bridge
  • Frax Price Index
    • Overview (CPI Peg & Mechanics)
    • Frax Price Index Share (FPIS)
    • FPIS Distribution
    • CPI Tracker Oracle
    • FPI Controller Pool
    • veFPIS
    • FPIS Conversion / FPIS Locker
    • FPI and FPIS Token Addresses
    • FPI Multisigs
  • Fraxswap
    • Overview
    • Technical Specifications
    • Fraxswap Contract Addresses
  • Fraxlend
    • Fraxlend Overview
    • Key Concepts
    • Lending
    • Borrowing
    • Advanced Concepts
      • Position Health & Liquidations
      • Interest Rates
      • Vault Account
    • ABI & Code
    • Fraxlend Multisigs
  • Frax Ether
    • Overview
    • frxETH and sfrxETH
    • Technical Specifications
    • Redemption
    • frxETH V2
    • frxETH V2 Technical Details
    • frxETH Code & V2 Addresses
    • frxETH and sfrxETH Token Addresses
    • frxETH Multisigs
  • BAMM
    • Overview
  • Frax Oracle
    • Frax Oracle Overview
    • How It Works
    • Advanced Concepts
    • Fraxtal Merkle Proof Oracles
  • Guides & FAQ
    • FAQ
    • Staking
    • Uniswap Migration / Uniswap V3
    • Fraxswap / FPI
  • Miscellany
    • All Contract Addresses
    • Bug Bounty
    • Miscellaneous & Bot Addresses
    • API
  • Other
    • Audits
    • Media Kit / Logos
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  1. Frax Price Index

veFPIS

An updated and modular veFPIS

PreviousFPI Controller PoolNextFPIS Conversion / FPIS Locker

Last updated 7 months ago

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⚠️ veFPIS is now unlocked, and yield for it stopped, per the . Users are encouraged to migrate to the on Fraxtal for eventual FPIS conversion into FXS ⚠️

veFPIS is an updated and vesting + yield system for the FPIS governance token. Similar to veFXS, users may lock their FPIS for up to 4 years for four times the amount of veFPIS (e.g. 100 FPIS locked for 4 years returns 400 veFPIS). veFPIS is not a transferable token nor does it trade on liquid markets. It's akin to an account based point system that signifies the vesting duration of the wallet's locked FXS tokens within the protocol.

The veFPIS balance linearly decreases as tokens approach their lock expiry, approaching 1 veFPIS per 1 FPIS at zero lock time remaining.

Double Whitelist & Modular Functionality

veFPIS has an additional "DeFi whitelist" for smart contracts that add modular functionality to the staking system. Governance can approve each new whitelisted DeFi feature. For example, a liquidation contract can be whitelisted by governance which allows a staker's underlying FPIS tokens to be liquidated if they borrow against their veFPIS balance. Users will have to approve each DeFi whitelisted contract to spend their FPIS tokens before the new functionality can be unlocked for each user. This allows the staking system to remain fully trustless so that no extra logic can access a staker's veFPIS balance without a staker's approval thus keeping modules opt-in per wallet address. This system allows governance to add new iterative functionality to veFPIS staking such as "slashing conditions" and new ways to earn higher yield (and potentially be slashed if users opt-in) by adding smart contracts which allow veFPIS holders to vote on CPI gauge weights, borrow FPI, or control liquidity deployment.

Frax Singularity Roadmap Part 1
FPIS Locker