Frax Finance Deploys Fraxtal L2 Blockchain

Frax Finance, a DeFi project, has successfully implemented its own secondary network on the Ethereum platform, called Fraxtal. This network is currently available to a limited number of “launch partners.”

Built using the OP Stack and utilizing Rollups technology, Fraxtal is compatible with the Ethereum Virtual Machine and is integrated into the Superchain Optimism ecosystem, alongside Coinbase’s Base.

The initial launch of Fraxtal supports key infrastructure solutions such as Etherscan, and several applications from launch partners including Safe, Chainlink, Axelar, and LayerZero.

Fraxtal is expected to become widely available in the “next few days” and will serve as a platform for DeFi-focused decentralized applications.

Frax Finance, the issuer of decentralized stablecoins Frax (FRAX) and Frax Ether (FRAXETH), is managed using Frax Shares (FXS) tokens. On March 6, the team will take a snapshot of FXS locked in staking for voting, which will accrue Fraxtal Loyalty Points (FXTL).