Let me briefly tell you about FXS. FXS is a partially algorithmic stablecoin whose supply is partially backed by collateral and partially algorithmically stabilized. The ratio of collateral depends on the market price of the FRAX stablecoin. If FRAX trades above $1, the protocol lowers the collateral ratio. If FRAX trades below $1, the protocol increases the collateral ratio. 1. If FXS is a potential currency, you can consider building a position in a ladder. fxs fell by about 10% due to the crv incident, and the impact of long-term events will become smaller; 2. There is a repurchase mechanism. When the price of FXS falls below $5, a time-weighted average price (TWAP) repurchase worth $1 million will be initiated. . If the price falls further below $4, an additional $1 million repurchase will be initiated for a period of one month. As the price falls further, more FXS is purchased for subsequent burning. #fxs