[FIP-451] Add Royco SLP to sfrxUSD Strategies

Authors

Frax Core Team

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Summary

This proposal seeks to authorize the sfrxUSD strategy framework to allocate up to 1,000,000 frxUSD into the Royco SLP. The objective is to provide redemption liquidity for sr-srRoyUSDC while earning yield generated by the underlying srRoyUSDC strategy, expanding sfrxUSD's portfolio of governance-approved yield strategies and strengthening frxUSD's role within the Royco ecosystem.

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Background & Motivation

As sfrxUSD continues to expand its benchmark-rate strategy, the protocol seeks to diversify across governance-approved opportunities that combine attractive risk-adjusted returns with strategic ecosystem growth.

The Royco SLP serves as the primary redemption mechanism for srRoyUSDC and enables users to enter and exit p