Frax Finance initiates the proposal to "convert FXTL points to FXS".

the stablecoin protocol Frax Finance has released a proposal discussion on its governance forum to convert FXTL points into FXS.

It is reported that the proposal consists of two parts: an initial conversion and an annual FXTL conversion thereafter. For this purpose, 5 million FXS will be used, and after the initial conversion of FPIS, its market value will reach 93 million FXS. Subsequently, 1 million FXS will be designated each year as the unlock amount for FXTL point conversion.