What is True Freeze?

True Freeze is an autonomous protocol allowing anyone to lock ETH out of circulation ("proof of patience") and mint frETH yield tokens and a tradeable Certificate of Deposit Freezer NFT for doing so.

1. Get paid to send ETH into the future.
2. Pay to bring ETH back to the present.

What is Freezer NFT?

Freezer NFTs are Certificates of Deposit. Each NFT is backed 1:1 with WETH locked in the system. These NFTs can be sold on any NFT marketplace transferring ownership of the locked WETH with it.

What is freezer-ETH (frETH)?

The freezer-ETH yield tokens (frETH) is your tokenized proof of patience. When you lock ETH into the future you're committing to HODL that ETH. You might already be bullish on ETH, but the market doesn't know that. By using True Freeze, you create on-chain evidence of your willingness to HODL ETH (proof of patience). Because ETH is a volatile asset (so far in 2022 it has traded at both $3,500 and $1,000) HODLing is hard. True Freeze enables WETH holders to get paid to HODL. frETH is not pegged to ETH. It's value comes from people using it to redeem NFTs early and burning it to earn the Freezer Revenue Token (FRZ).

What is the Freezer Revenue Token (FRZ)?

Freezer NFTs are minted when WETH is locked into the future. Redeeming the NFT early requires fees (in frETH) and a 0.25% WETH penalty. This is revenue to stakers of the FRZ token. Thus, the FRZ token is a standard dividend token.

What we will see in this dashboard:

• The Daily Volume of ETH Frozen on TrueFreeze
• The Daily Number of Transactions to Freeze ETH on TrueFreeze
• Daily Early Redemption of Users on TrueFreeze

At first lets take a look at the daily volume of ETH frozen

As wee see in the area results above the highest volume of ETH frozen was on July 20th.

Second we’re looking at the daily number of transactions to freeze ETH

Again we see on July 20th, the daily number of transactions to freeze ETH is higher than the other days.

And the last one is Daily Early Redemption but actually what is Early Redemption?

An Early Redemption Penalty (also known as an Early Repayment Charge or ERC) is a fee you may be required to make to a lender if you pay off a loan or mortgage before the scheduled term of the credit facility, also sometimes referred to as a Redemption Penalty.

True Freeze users can pay a fee to unlock their ETH early. If users redeem before the maturity date, they have to pay a variable frETH fee and a fixed WETH penalty.

Conclusion

• Users can actually make profits with HODLing in bearish market with TrueFreeze
• Both daily volume of ETH frozen and daily number of transactions to freeze ETH were the highest on July 20th
• If anyone lock down his or her ETH on TrueFreeze, can pay some frETH as fees and a fixed WETH penalty to unlock it before the maturity date