Frax Finance面临WLFI合作伙伴关系的风险

Frax联合创始人史蒂芬·摩尔（Stephen Moore）与WLFI的联系以及以前作为特朗普本人的经济顾问的工作增加了该提案的权重。

Frax Finance, a major decentralized finance (DeFi) protocol, is currently voting on a high-stakes proposal to invest up to $15 million in World Liberty Financial (WLFI), a DeFi project reportedly linked to the family of former US President Donald Trump. This bold proposition has sparked heated debate within the Frax Finance community, carrying both potential risks and rewards.

Frax Finance是一项主要的分散财务（DEFI）协议，目前正在投票通过一项高风险提议，以向世界自由金融（WLFI）投资高达1500万美元，这是一个与美国前总统唐纳德·特朗普家族有关的DEFI项目。这个大胆的主张引发了Frax Finance社区中激烈的辩论，具有潜在的风险和奖励。

The proposal outlines an initial investment of $5 million to acquire WLFI tokens and forge a strategic partnership with the project. If the first phase proves successful, it could pave the way for an additional investment of up to $10 million, contingent on performance metrics.

该提案概述了500万美元的初始投资，以获取WLFI代币并与该项目建立战略合作伙伴关系。如果第一阶段证明是成功的，那么它可能会为最高1000万美元的额外投资铺平道路，取决于绩效指标。

Proponents argue that this deal could unlock vast opportunities for Frax Finance. By collaborating with World Liberty Financial, Frax would gain access to a broader audience, leveraging Trump's public presence and pro-cryptocurrency stance to reach millions of Americans who may be unfamiliar with decentralized finance.

支持者认为，这项交易可以为Frax Finance释放巨大的机会。通过与世界自由金融合作，Frax将获得更广泛的受众访问，并利用特朗普的公共存在和亲密货币立场来吸引数百万美国人，他们可能不熟悉分散的金融。

According to blockchain analytics platform Spot On Chain, WLFI has attained a degree of notoriety, having already funneled over $70 million into large DeFi protocols, such as Aave, Chainlink, Ethereum, Tron, and Ethena. Its governance structure enables token holders to influence decisions on projects, and the technical and operational benefits from its partnerships with entities like Chainlink and Ethena Labs are substantial.

根据Blockchain Analytics Platform在Chain上的地位，WLFI已获得了一定程度的臭名昭著，已经在大型Defi方案中汇集了超过7000万美元，例如AAVE，Chainlink，以太坊，Tron和Ethena。它的治理结构使代币持有人能够影响项目的决策，以及与Chainlink和Ethena Labs这样的实体的合作伙伴关系所带来的技术和运营益处。

After $ETH, World Liberty Financial (@worldlibertyfi) is buying $TRX, $AAVE and $LINK!

$ ETH之后，世界自由金融（@worldlibertyfi）将购买$ trx，$ aave和$ link！

In the past 20 minutes, the fund spent $14.1M to buy:

在过去的20分钟中，该基金花费了1410万美元来购买：

- 19.3M $TRX ($4.7M)

-193M $ TX（470万美元）

- 13,261 $AAVE ($4.7M)

-13,261 $ AAVE（470万美元）

- 177,928 $LINK ($4.7M)

-177,928 $链接（470万美元）

Note that TRON DAO (@trondao) also spent another 15M $USDT to buy… https://t.co/LJdgBssdvr pic.twitter.com/2p7zqiokRK

请注意，Tron Dao（@trondao）还花了另外1500万美元的USDT来购买…https://t.co/ljdgbssdvr pic.twitter.com/2p7zqiokrk

Frax Finance’s Risky Partnership with WLFI

Frax Finance与WLFI的风险合作伙伴关系

Frax co-founder Stephen Moore's involvement with WLFI and his prior role as an economic adviser to Trump himself lend further significance to the proposal. However, some members of the Frax community have expressed reservations about the lack of a clear strategic connection between the two entities. If the proposal is approved, this collaboration could bolster Frax Finance's standing as a leading US-based stablecoin, granting it entry into WLFI's governance ecosystem.

Frax联合创始人史蒂芬·摩尔（Stephen Moore）与WLFI的参与以及他先前担任特朗普本人的经济顾问的角色对该提案更加重要。但是，Frax社区的一些成员对两个实体之间缺乏明确的战略联系表示保留。如果该提案获得批准，这项合作可以支持Frax Finance作为美国领先的Stablecoin的地位，从而授予WLFI的治理生态系统。

“By partnering with WLFI, Frax would solidify its status as a premier US-origin stablecoin while benefiting from WLFI’s ecosystem and governance opportunities,” the proposal reads.

该提议写道：“通过与WLFI合作，Frax将巩固其作为首屈一指的美国 - 原子稳定的地位，同时从WLFI的生态系统和治理机会中受益。”

Despite its potential upsides, the proposal has not been without its controversy. Critics within the Frax community have raised concerns about the financial risks, particularly regarding the valuation of WLFI.

尽管有潜在的局势，但该提议并非没有争议。 Frax社区中的批评家提出了对财务风险的担忧，特别是对WLFI的估值。

One community member expressed apprehension over the project's $5 billion fully diluted valuation, labeling it "extremely risky and unreasonable." They cautioned that this lofty valuation aligns with the unsustainable hype witnessed during the crypto bull run of 2021-2022, raising concerns about future dilution and its impact on token value.

一位社区成员对该项目的50亿美元完全稀释的估值表示担忧，并将其标记为“极为风险和不合理”。他们警告说，这种崇高的估值与2021 - 2022年加密公牛运行期间见证的不可持续的炒作保持一致，这引起了人们对未来稀释及其对代币价值的影响的担忧。

As the debate deepens over the fine line within the DeFi sector - between those who are fully receptive to high-profile partnerships and those who, in the case of unproven projects, prefer to exercise caution - the critical decision hinges on whether Frax Finance will embrace WLFI's potential to reshape its US market or prioritize community concerns and proceed more conservatively.

随着辩论在偏见部门内的细线加深 - 那些完全接受备受瞩目的伙伴关系的人与在未经证实的项目中更喜欢谨慎行事的人之间 - 关于Frax Finance是否会接受的关键决定是否会接受WLFI重塑其美国市场或优先考虑社区问题并更加保守的潜力。

While the community deliberates on this proposal, it highlights a crucial balancing act that DeFi protocols must undertake - between innovation and risk - a dynamic that will likely continue to shape the space for years to come.

尽管社区对此提案进行了审议，但它突出了一项至关重要的平衡行为，该法案必须在创新和风险之间进行，这种动态可能会在未来几年内继续塑造该空间。

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