DeFi project Frax FRAX
-0.32%
Fraxtal works as an Ethereum-compatible bullish rollup, developed using the OP pile. It will also be part of Optimism’s Superchain ecosystem Coinbase supported base.
Fraxtal is currently limited to launch partners – including decentralized infrastructure providers such as Safe, Chainlink oracles, and Axelar and LayerZero bridges.
General users are expected to gain access to the chain in the coming days. The network will function as a dapps platform focused on decentralized finance.
Frax is the creator of the decentralized Frax stablecoin and Frax Ether, with a total value of over $1 billion. The project is managed via Frax Shares (FXS) tokens.
On March 6, an airdrop snapshot will be made for holders of vote-locked Frax Shares (FXS) tokens, who will receive Fraxtal (FXTL) points. The team did not clarify whether the points would be replaced with a separate token.
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