LlamaLend v2 just shipped, and we see it as a serious unlock for the Frax × Curve stablecoin stack. v2 is now live on @Optimism, with an @Ethereum mainnet deployment planned for later this year. It evolves @llamalend from a crvUSD‑centric lending system into a broader framework of isolated lending markets. Lending pairs are no longer required to include $crvUSD. Now any governance‑approved asset pair can form its own market. Curve LP tokens and other yield‑bearing positions can be used as collateral, while they continue to earn trading fees and rewards. The LLAMMA range‑based soft‑liquidation model remains at the core, so positions are unwound gradually across a price band instead of being hit by a single cliff‑edge liquidation. For the @fraxfinance ecosystem, the key unlock is simple: markets can now be configured so that users borrow $frxUSD directly against productive Curve LP collateral, once those markets move through governance. That turns $frxUSD from “just” core liquidity in PegKeeper and routing pools into an asset that can also sit on the debt side of the system, adding a clean new source of organic borrowing demand. PegKeeper pools that use $frxUSD can, in principle, be plugged into isolated v2 markets: you provide liquidity, earn swap fees and incentives, and then post the same LP as collateral in a LlamaLend v2 market to borrow a governance‑approved asset (potentially $frxUSD itself). Your capital stays fully deployed on @CurveFinance while unlocking additional borrowing power, exactly the kind of money productivity $frxUSD is designed for. Net‑net, LlamaLend v2 is another step toward a tighter Frax–Curve feedback loop, where $frxUSD acts both as the liquidity backbone and as a high‑class borrowing asset inside a soft‑liquidation, isolated‑market framework. We believe future infrastructure for global DeFi is being built exactly at this intersection.

🧵As FraxForce we spend a lot of time deciding which projects genuinely deserve our attention and educational spotlight. Today we want to highlight one of those projects. This thread explains what @Eva_Markets does, why we think it’s worth your attention, and how it connects to $frxUSD and @Fraxfinance. ⏬

5) The interesting part for us Frax maxis is how Eva plugs directly into the @fraxfinance stablecoin stack... evaUSDT has chosen $frxUSD as its default stablecoin pairing for a @CurveFinance PegKeeper pool. frxUSD provides the stable base and pegkeeping layer, while evaUSDT brings isolated yield from Wintermute’s Wildcat loans. As an LP you are effectively sitting between Frax on one side and a transparent institutional credit line on the other, earning Curve trading fees, incentives and Eva’s underlying credit yield in a single capital‑efficient position. Check the PegKeeper here: curve.finance/dex/ethereum/p…