Fraxtal Emerges: Frax Finance’s L2 Blockchain Unveiled
Frax Finance, renowned for its liquid staking and stablecoin FRAX, has launched its L2 network, Fraxtal.
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Frax Finance, renowned for its liquid staking and stablecoin FRAX, has launched its L2 network, Fraxtal.
Crafted using the OP Stack from Optimism, Fraxtal is a modular, Ethereum Virtual Machine (EVM)-compatible blockchain, akin to the Base network.
Currently, Fraxtal is accessible to partners like Chainlink, Safe, LayerZero, and Axelar, with plans to open it to the public in the upcoming days.
One distinctive feature of Fraxtal is its Flox block incentives. This system grants FXTL points to accounts and smart contracts that engage with certain applications within the Fraxtal network. The points are awarded based on the Flox algorithm.
Frax Finance also announced an upcoming FXTL point airdrop scheduled for March 6, 2024, for veFXS stakers, based on their FXS balance. It remains to be seen whether these FXTL points will translate into specific tokens in the future.
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