FRAX Finance New L2: Full Full Analysis

Author: Francesco, web3 observer translation: good Ouba, Bitchain vision world

After a few months of waiting,Frax Finance finally launched their own blockchain Fraxtal.

This proves that they completely change the toughness and vision of DEFI:After the Luna collapsed, the FRAX was completely transformed from the algorithm stabilization currency protocol, which led to the creation of new primitives, including Liquid Stake (FRXETH), bonds, real world assets, etc.

Fraxtal is the pinnacle of their vision:A modular blockchain has a unique expansion roadmap and incentive measures to inspire users to grow and develop.

FRAXTAL is an EVM compatibility summary based on OP BEDROCK stack, which can ensure that complete EVM equivalent, Ethereum consistency and security, and promote the deployment of DAPP.

The name Fraxtal comes from “fractal”.In mathematics, fractal is a kind of containingThe geometric shape of any small scale detailed structure usually hasStrictTopotial dimension -dimensional dimension dimension

The particularity of the division lies in infinite complexity, and its patterns will be repeated forever.In addition, every part of the fractal, no matter how magnified, looks very similar to the entire image.

This concept is reflected in Fraxtal’s strategic vision.

As SAM repeatedly mentioned, Fraxtal is a technical papers -driven chain, and it is not intended to be an independent application chain.on the contrary,Fraxtal hopes to be a modular L2 Rollup to inspire others to build on this basis.

At present, there are two mainstream views on the development of the future architecture of the blockchain: single and modularization.The modular perspective believes that the key components of the blockchain stack (such as verification, execution, data availability, etc.) can be separated or combined to adapt to specific cases, thereby improving the efficiency of the blockchain network.

This article briefly introduces the role of Fraxtal and how to motivate users on its L2 platform, and FXS in this new ecosystem.

Introduction to FRAXTAL

Fraxtal benefits from the support of Frax Finance. The latter is one of the most tough protocols in the DEFI field, covering almost all Defi primitives.

This provides a powerful network and practicality for Fraxtal from the beginning, and has infrastructure that multiple users can use.

Therefore, FRAXTAL’s goal can be regarded as a general -purpose computing chain. Its route map includes future integration with data availability protocols, more L1 and other blockchain components.

One of the integration is Eclipse, which is an agreement using solana virtual machine but settlement on Ethereum.As a modular Rollup, FRAXTAL will provide multiple infrastructure and middleware components, “for other chains and networks, connecting, deploying L3 and building it above it.”

For example, Fraxtal uses the internal data availability module developed by the FRAX team.

Fraxtal is expected to be released in the second week of March and will have a buffer period that allows developers to release DAPP, which reflects their stable approach and ensure that all settings are perfect.

This is usually FRAX’s approach, and they are more willing to focus on long -term goals, not short -term vision.As the founder of FRAX said, this method includes “seeing the development direction of the industry and ensuring that you can create the maximum value there, with long -term growth.”**

This also means not to follow the current and keep the core attention to the long -term vision of the agreement.

To achieve this goal and motivate development, Fraxtal chose a different path from many L2 releases today.

The FRAX team did not use the promise of airdrops to guide Fraxtal. Instead, FLOX was launched, which is a series of block space incentives for users and developers who use Fraxtal chains.

FLOX is a system. Users and developers of popular smart contracts on the chain can get FLOX points at each EPOCH (initial week, but customized).

Initially, EPOCH will be set to weekly, but its length can be further customized to avoid mechanism games and get more fine -grained periods.

So far, GAS has returned the effect of attracting users is relatively poor, because they are often disposable, not long -term, and their contributions to project funds are often minimal.

The same is true of airdrops. They are disposable stimulation and cannot help users sticky and retain users.

Therefore, FRAXTAL has created the FLOX points that can be regarded as a “persistent airdrop” for rewarding the actual use of users.

In order to prevent malicious arbitrage or users using their contract manipulation system, Fraxtal introduced three relief mechanisms:

Block space usage: How many block space does the contract contribute?How much does it create for the FraxtAL network?
Contract ranking: Similar to Google’s ranking for the domain name page, this mechanism will consider the popularity and ranking of contracts in the Fraxtal ecosystem.This ensures that a single user cannot manipulate the system and evaluates how many users are effectively using the contract, and the amount of each user deposited and expenditure.
Random block sampling: Similar to data availability sampling, FRAXTAL uses random block sampling to ensure the availability of assets at any time.

Combined with these mechanisms, these mechanisms will reduce the Sybill attack and give priority to the source of organic demand and fair reward mechanism.

Compared with the “GAS Return” or “Sortor Cost Sharing”, this method is more effective, because the awards generated on the contract per project on their contracts are far more rewarded than any fee sharing plan.

In short, FLOX can be regarded as a continuous inspiration for usage and consumption of block space.The FLOX reward will be expressed as token symbol FXTL and will be performed within 12 months after the “Fraxtal chain is launched.”

At present, the team has not yet decided whether the “FXTL points will be used as a separate pledged token (FXTL) for the chain to the tokenization, or it will still be converted to the FXS tokens (or both) at a specific ratio.”

The FLOX award will be launched on March 13 and will take the airdrop Flox points to the Vefxs pledker.

Next we will discuss the next question: What will happen to FXS now?

FXS’s role in the FraxtAl ecosystem

As for the future of FXS, don’t worry, FXS will still play a core role in the Fraxtal ecosystem.In fact, FXS will become the native currency of Fraxtal, cumulative network value, and serve as a long -term pledged tokens -a driver wheel equipped with multiple incentive mechanisms.

Nevertheless, it is worth noting that fuel costs on Fraxtal will be paid through FRXETH.

At the same time, Fraxtal will bring extra practicality to Vefxs.Users can now pledge VEFXS on Fraxtal, while maintaining the same balance as the Ethereum main network, which will be used to obtain FLOX points and participate in activities.

More information about FRAXTAL

In addition, Fraxtal also plans to launch a FRAX version of Bitcoin, FRXBTC.How does FRXBTC benefit?Because FRAX’s goal is to become the main issuer of the most important economic unit (such as USDT, ETH), and is committed to becoming a general chain.Therefore, in addition to the market covered by FRAX, Bitcoin represents another huge potential market.