The stablecoin protocol Frax Finance will launch the Layer 2 blockchain Fraxtal in February

2024-01-18 14:02:38

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ChainCatcher news, according to CoinDesk, the founder of the stablecoin protocol Frax Finance, Sam Kazemian, stated in an interview that the company plans to launch the Layer 2 blockchain Fraxtal in February. Kazemian said, "The current timeline is the first week of February. Etherscan will support it on the first day through Fraxscan, and many projects will debut shortly after the launch."

The new product will add to Frax's existing product suite, which includes Frax (a fully collateralized algorithmic stablecoin), a lending platform, an automated market maker, an inflation-linked stablecoin, FPI, and the liquid staking token frxETH. Fraxtal will utilize rollup technology. Frax's liquid staking token frxETH will power Layer 2 and serve as the gas fee for the blockchain.

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Mention the project

Frax Algorithmic Stablecoin Protocol