DeFi project Frax Frax
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Fraxtal operates as an Ethereum-compatible optimistic rollup developed using the OP Stack. It will become part of Optimism’s Superchain ecosystem. Base based on Coinbase.
Fraxtal is currently limited to launch partners, which include decentralized infrastructure providers such as Safe, Chainlink oracles, Axelar, and LayerZero bridges.
Regular users are expected to be able to access the chain in the next few days. The network will function as a dapp platform focused on decentralized finance.
Frax is the creator of the decentralized Frax stablecoin and Frax Ether, hosting a total locked value of over $1 million. 1 billion dollars. The project is governed through the Frax Shares (FXS) token.
On March 6th, an airdrop snapshot will be held for escrowed FXS (Frax Shares) token holders, who will receive Fraxtal (FXTL) points. The team did not clarify whether points would be replaced by separate tokens.
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