fraxchain

ChainCatcher news, Frax Finance founder Sam Kazemian stated in the official Telegram group that there will be a unique Fraxchain airdrop / points system related to something new with FXS+, which is something we plan to announce until the New Year.

ChainCatcher news, Frax founder Sam Kazemian responded to users in the official Telegram about "the role of frxETH and FXS in FraxChain," stating that the Gas token for FraxChain is frxETH, and the role of the FXS token is as a staking token for the FraxChain network validators, which can be used to capture validator income.Previous news, the Ethereum L2 network Fraxchain's testnet aims to go live in early January 2024. Fraxchain is a computation Rollup, not an application chain.

ChainCatcher news, Frax founder Sam Kazemian revealed in the official Telegram that the Frax Finance Ethereum L2 network, Fraxchain, aims to launch its testnet in early January 2024.Fraxchain is a computation Rollup, not an application chain, and plans to support any developers who want to build on it, including those creating other stablecoins, LSDs, or anything that doesn't have to use Frax assets. Early project builders will definitely receive the most block space incentives. FXS will be the native token of Fraxchain and will earn sequencer revenue, with a decentralized sequencer mechanism to be controlled in future updates.

ChainCatcher news, stablecoin protocol Frax Finance has launched the Ethereum Layer2 network Fraxchain, which will focus on creating a smart contract platform that emphasizes decentralized finance. The network is expected to be ready by the end of this year. The governance of Fraxchain will be led by holders of the Frax Shares (FXS) token. The network will use the stablecoin Frax and liquid staking derivatives Frax Ether to pay for transaction fees. Additionally, Frax founder Sam Kazemian stated that fees generated by the Rollup network could be partially burned or redirected back to the Ethereum mainnet to be distributed to holders of the FXS governance token.Fraxchain adopts a Layer2 Rollup model in its design, publishing the state root to the Ethereum mainnet to secure the network. Fraxchain will integrate decentralized sequencers. These sequencers are specialized nodes responsible for ordering transactions into batches within the Rollup network. They will be operated by any entity elected through governance voting. (source link)