ChainCatcher news, the stablecoin protocol Frax Finance has released a proposal discussion on its governance forum to convert FXTL points into FXS.It is reported that the proposal consists of two parts: an initial conversion and an annual FXTL conversion thereafter. For this purpose, 5 million FXS will be used, and after the initial conversion of FPIS, its market value will reach 93 million FXS. Subsequently, 1 million FXS will be designated each year as the unlock amount for FXTL point conversion.

ChainCatcher message, the liquidity re-staking protocol Swell announced on platform X that Frax has launched on Swell L2. Tokens deposited in the pre-release of Frax Finance will earn 10 million FXTL points in the first month, as well as Swell airdrop rewards at the launch of L2, airdrops from Swell L2 projects, and 1 million EigenLayer points.Supported tokens: FRAX (2x FXTL points); frxETH (2x FXTL points); sFRAX; sfrxETH;