Frax Finance has introduced Fraxtal, a non-custodial lending platform, along with a modular Layer 2 blockchain.
Fraxtal offers incentives for blockspace usage and rewards users on a block-by-block basis. It primarily operates on an EVM rollup with OP stack equivalence, ensuring full compatibility and security alignment with Ethereum standards.
Fraxtal aims to provide a user-friendly and cost-effective deployment process, leveraging familiar Ethereum infrastructure like Fraxscan by Etherscan and essential decentralized applications such as Safe, Chainlink oracles, and bridges from Axelar Network and Layer Zero.
Frax Finance has unveiled its strategy to introduce incentive schemes, liquidity rewards, new FTXL points, and an airdrop snapshot later this month. This move aims to enable partners and teams to deploy their dApps and stake FXS with thorough preparation.
Currently, the Fraxtal testnet and mainnet are accessible to selected launch partners, with ordinary users set to join the chain shortly. The distribution of FXTL points, determined by the Flox algorithm, will reward accounts and smart contracts engaging with specific dApps on Fraxtal.
As per Frax Finance’s plan, FXTL points will be airdropped to veFXS stakers based on their veFXS balance at 7:59 on March 7, Beijing time. Following this airdrop in the second week, the activation of the Flox mechanism will enable users to earn rewards from each block, signifying a significant milestone.
Also Read: LBank Integrates Oasys Blockchain Gaming Platform
