The improvements of ELENA

Elena: The comparison of price anchoring mechanism between FRAX and FEI

Price	Solution	FRAX	FEI
>$1	arbitrage	same	same
<$1	arbitrage	Advantage 1. The speed of returning to $1 is very fast 2. Distribute profits to participants, increase participation and transaction volume, and make the market more active Disadvantage 1. The funds in the treasury consumed during arbitrage are more reweighted than FEI	N/A
-	mint reward	N/A	Disadvantage 1. Similar to the bond in basis v1 which has been proved to be invalid 2. Generate new selling pressure 3. Speculators need to face the risk that prices continue to fall
-	burn penalty	N/A	Disadvantage 1. Stable coins lose their circulation attribute 2. Early referees did not receive dividends, affecting market sentiment
-	reweight	N/A	Advantage 1. It consumes fewer capital, compared to the arbitrage mechanism. Disadvantage 1. Need to be triggered regularly, and the speed of return is slower than arbitrage

-	FRAX	FEI
Collateral	USDC	ETH