Stablecoin protocol Frax Finance plans to launch Layer 2 blockchain Fraxtal in February

According to CoinDesk, Sam Kazemian, the founder of stablecoin protocol Frax Finance, stated in an interview that the company is planning to launch Layer 2 blockchain Fraxtal in February. Kazemian said: "The current schedule is the first week of February. Etherscan will provide support for it through Fraxscan on the first day, and a large number of projects will debut shortly after its release."

It is reported that the new product will add to Frax's existing suite of products, including Frax (a fully collateralized algorithmic stablecoin), a lending platform, an automated market maker, an inflation-linked stablecoin, FPI, and the frxETH liquidity staking token. Fraxtal will use rollup technology, which executes transactions on the Ethereum mainnet, batch processes data, compresses it, and sends it back to the mainnet. Frax's frxETH liquidity staking token will provide the power for Layer 2 and serve as the gas fee for the blockchain.