Odaily Planet Daily News Twitter user DeFiCheetah published an analysis of the reasons why Michwill established crvUSD/fFRAX: Because Fraxlend adopts a time-weighted variable interest rate, it will adjust the interest rate according to time, up to 10,000%. The higher the utilization rate, the shorter the promotion cycle. Michwill established the crvUSD/fFRAX liquidity pool, aiming to reduce the utilization rate and prolong the interest rate increase cycle. For fFRAX holders, they can obtain FRAX loan exit liquidity, and those who have confidence in Michwill can also provide LP to obtain high rewards. For crvUSD holders, the worst case is that they will end up holding CRV's book liabilities, namely fFRAX, and these people are also staunch supporters of the Curve ecosystem.

On August 1st, data on the chain showed that Curve founder Michael Egorov created a new liquidity pool crvUSD/fFRAX for FraxLend’s CRV/FRAX market on Curve, where fFRAX is the receipt token of CRV/FRAX on Fraxlend. At present, the annualized reward of crvUSD/fFRAX pool on Curve is as high as 462.5%, and the annualized reward of CRV/FRAX on Fraxlend is about 70%.