LlamaRisk supports the removal of FRAX from Isolation mode under the proposed parameters. DAI’s parameters, including 0% LTV, are appropriate for this asset. Liquidity for the asset is good.
We do not see significant changes in the protocol structure since our last comment reviewing this asset. It is worth noting that FRAX now conducts governance on Fraxtal L2, their inhouse chain, but it does not appear to be “onchain” governance that was promised since 2023.