Frax Launches Layer 2 Network Fraxtal With Partner Apps
DeFi project Frax Finance has released its Ethereum Layer 2 network, Fraxtal. A restricted mainnet was activated today for specific partner apps.
Fraxtal operates as an Ethereum-compatible optimistic rollup developed using the OP Stack. It will be part of Optimism’s Superchain ecosystem alongside Coinbase-backed Base.
Fraxtal is currently limited to launch partners — including decentralized infrastructure providers such as Safe, Chainlink oracles, and Axelar and LayerZero bridges.
General users are expected to be able to access the chain in the coming days. The network will function as a dapps platform focused on decentralized finance.
Frax is the creator of the decentralized Frax stablecoin and Frax Ether, hosting a total value locked of over $1 billion. The project is governed via Frax Shares (FXS) tokens.
On Mar. 6, an airdrop snapshot will be taken for holders of vote-escrowed Frax Shares (FXS) tokens, who will be given Fraxtal (FXTL) points. The team did not clarify if the points would be replaced by a separate token.
(With inputs from Shikha Singh)
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