The IQ token now has an incentivized IQ-frxETH pair on Curve, one of the largest decentralized exchanges! Curve users who supply liquidity to the pool earn CRV rewards. Those who stake their LP tokens with Convex can also earn CVX tokens.
Users can now deposit frxETH & IQ on Curve Finance and stake LP tokens on Convex. There is currently around $250,000 of liquidity in the pool. FrxETH-IQ is a v2 pool which means it contains non-pegged assets. The incentives from the Curve gauges are now live, $CRV holders can vote for emissions for the IQ/frxETH pool.
This new pair is part of BrainDAO’s strategy to increase liquidity for the IQ token on decentralized exchanges. $IQ has over $7,000,000 in liquidity on Fraxswap. The IQ token also has a USDT pair on Binance, the world’s largest cryptocurrency exchange, and a KRW pair on Upbit, South Korea’s largest crypto exchange.
What is frxETH?
FrxETH is a stablecoin pegged to ETH. 1 frxETH always represents 1 ETH, and their quantities in circulation match. When ETH is sent to the frxETHMinter, an equivalent amount of frxETH is minted. Holding frxETH doesn't yield staking rewards and is similar to holding ETH. The frxETH peg defends a 1% range around a 1.00 exchange rate, keeping it between 1.01-.9900 ETH per 1 frxETH.
SfrxETH is a token that is an ERC-4626 compliant vault. It is designed to accrue the staking yield of the Frax ETH validators. The profit generated from Frax Ether validators is distributed to sfrxETH holders.
The BrainDAO treasury currently holds around $7,000,000 in sfrxETH staked earning yield.
The IQ token is a cryptocurrency dedicated to building a more intelligent future through artificial intelligence and blockchain technology. The IQ token powers a knowledge ecosystem including applications such as IQ.wiki, the world's largest cryptocurrency and blockchain encyclopedia. IQ.wiki integrates AI for tasks including summarizing wiki articles. The token is governed by BrainDAO which also includes BrainDAO's treasury of digital assets.