Crypto:
29213
Bitcoin:
$63.926
% 1.66
BTC Dominance:
%54.2
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Market Cap:
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% 0.46
Fear & Greed:
65 / 100
Bitcoin:
$ 63.926
BTC Dominance:
% 54.2
Market Cap:
$2.29 T

Frax Unveils Fraxtal: A New Ethereum L2 Network for DeFi Innovation

Buckle up DeFi enthusiasts! Frax Finance, the team behind the popular Frax stablecoin, has officially launched its highly anticipated Layer 2 network, Fraxtal.

Think of Fraxtal as a supercharged highway for Ethereum transactions, designed to handle DeFi applications with faster speeds and lower fees. Built on the OP Stack, it joins Optimism’s growing Superchain ecosystem alongside Base, backed by Coinbase.

But hold on, not everyone can access this futuristic highway just yet. Currently, Fraxtal is cruising with a select group of launch partners, including infrastructure providers like Safe, Chainlink, and bridge builders like Axelar and LayerZero. But fear not, general users are expected to join the ride in the coming days!

So, what’s under the hood of Fraxtal? It’s all about DeFi innovation. Imagine a platform specifically designed for decentralized finance applications, buzzing with faster settlements, cheaper interactions, and scalability dreams coming true.

Remember Frax, the mastermind behind the popular Frax stablecoin and Frax Ether? They’re at the helm of this project, bringing their expertise and over $1 billion in total value locked (TVL) to the mix.

And here’s the cherry on top for loyal Frax supporters: on March 6th, there’s an airdrop for holders of vote-escrowed Frax Shares (FXS) tokens, rewarding them with Fraxtal points (FXTL). While the team hasn’t spilled the beans yet, speculation is swirling about these points potentially evolving into a separate token.

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