"Same Same But Different -- Again" - Frax Check #33
Flywheel DeFi
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The Profitability of Frax Land
The company lost 25 K in March because of the peg increase that you had to rise to meet the inflation rate. But regardless, like I mentioned earlier, there's a massive excess of like 4.75 million in equity,. So 25 K is kind of a blip, totally manageable. And then now putting all of this together on the next slide in April, um, we have so far for the month of April, a loss of 530 K for the convex AMO. For frax land, we've made 14 K, uh, frax land liquidations, zero FPI loss of 14 K.
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