Quick Guide
12 things to know about True Freeze
True Freeze launched with an airdrop of the Freezer Revenue Token (FRZ). Airdrop, Incentives, Insiders
You can stake this revenue token in True Freeze to receive early withdrawal fees (in frETH) and penalties (in WETH).
Anyone can lock WETH to mint frETH (longer lock time = more frETH), receive a Freezer NFT Certificate of Deposit and buy/sell frETH & the NFT.
Because ETH's price is volatile, people who lock WETH with time-preference [A] may either change their time-preference over time or sell their NFT to someone with a different time-preference [B].
As time-preferences change (e.g., bull and bear cycles) or holders of the NFT change, some people will willingly pay the fees/penalty to redeem the NFT for ETH backing it prior to the NFT's maturity date (e.g., to sell ETH high and rebuy it low). Mature NFTs can redeemed at 0 fee/penalty - but not everyone will be patient.
The price of frETH in ETH terms acts as a free market determined time preference rate for ETH.
Time preference already exists in DeFi. For example: Lido stETH on Curve can trade below 1 ETH, even though 1 stETH is backed by 1 ETH, because stETH can't be redeemed until after the merge and Shanghai upgrade. This discount on stETH acts as a time preference rate + pricing the uncertainty risk around the merge/redemptions/Lido slashing. True Freeze is focused on tokenizing time-preference for ETH separate from anything merge or proof of stake related.
True Freeze is the simplest and most explicit way for the market to trade tokenized time-preference with no reliance on oracles, collateral, liquidation, perpetuals, etc.True Freeze tries to be Risk-Minimized DeFi
FRZ is inflationary, this forces stakers to continuously earn FRZ to maintain their % of revenue flow from early withdrawals. FRZ Inflation Schedule
You can earn FRZ in 3 ways: burn frETH to get a proportional amount of FRZ inflation forever; provide liquidity between frETH and WETH while liquidity incentives exist; earn it from Partner DAOs that were granted FRZ. Partner DAOs
At scale, True Freeze's value proposition is measuring & pricing ETH's volatility via tokenizing market time-preference rates.
There is no governance token for True Freeze, nor any concentrated DAO nor administration at the protocol level. It is a Day 1 Complete immutable public good with no centralized control at all. Deep Freeze LLC maintains 1 website for accessing True Freeze, but there will be others. No (Centralized) Roadmap
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