TechFlow reports, Frax founder Sam Kazemian revealed in the official Telegram that Frax Finance's Ethereum L2 network, Fraxchain, plans to launch its testnet in early January 2024. It will be a compute rollup rather than an app chain, aiming to support any developers who want to build on it—including those creating other stablecoins, LSDs, or projects that don't necessarily use Frax assets.
Early builders will receive the largest block space incentives. FXS will serve as Fraxchain’s native token, entitled to sequencer revenue, and will eventually govern the decentralized sequencer mechanism in future upgrades.
Add to Favorites
Share to Social Media
