pitchFXS Tokenomics

Liquidity for FXS governance.


pitchFXS aims to be Frax’s deepest on- and off-ramp for liquid governance. pitchFXS is a liquid wrapper for locked veFXS positions to retain governance power. Staking pitchFXS entitles holders with:

  • Automatic participation in Frax governance rewards on https://pitch.money/, including vote delegation on Snapshot

  • Participation in the native boost of liquidity providing strategies

  • Native veFXS yield, which is distributed by periodically TWAMMed on FraxSwap to buy back pitchFXS and help the peg.

  • Gauge incentive yield

  • Programmability, including the ability to borrow and lend against the ERC-20 token

Vote Delegation

Delegating voting power with pitchFXS is as simple as casting a vote on the Pitch Snapshot. A new Snapshot vote is created each week to allow pitchFXS holders to delegate their voting power to the protocol. Using pitchFXS, voters can cast weighted votes for their desired gauges. Pitch will allocate the protocol-controlled veFXS accordingly.

Snapshot votes are conducted once every other week to accommodate for the 10-day vote cooldown period. The results of each Snapshot vote will apply to two epochs.

Pitch Snapshot votes for gauge weights always end 24 hours prior to the end of the epoch. Delegated votes are cast between the time that the Snapshot closes and the end of the epoch.

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