Frax to Launch High-Speed, Low-Cost Layer 2 Fraxtal in February, Powered by frxETH Token and Flox Incentives
• Frax Finance's layer 2, Fraxtal, to launch in first week of February 2023
• Fraxtal will use rollups technology to batch transactions off Ethereum mainnet to improve speed
• Liquid staking token frxETH will power Fraxtal layer 2 and act as gas for the chain
• Fraxtal will debut with Flox incentives program to reward users and developers for blockspace usage
• Frax expects Fraxtal to attract hundreds of millions in assets within first month, aiming for $1 billion in first quarter