According to CEO and founder Sam Kazemian, this will be one of the biggest releases of the year. Fraxtal is expected to make a successful debut. During the first month it is planned to attract crypto assets worth at least several hundred million dollars and more than $ 1 billion in the Q1.
A fully secured algorithmic stablecoin, a credit platform, an automated market maker, an FPI stablecoin and a liquid betting token frxETH will be added to the existing set of Frax Finance products.
The decentralized crypto exchange Curve has already offered to deploy its exchange functions on Fraxatal.
Recall that Layer 2 protocols are built on top of the existing block chain to eliminate bottlenecks and increase transaction speed. The race to launch Layer 2 gained momentum after the issue of Ethereum network congestion came to the fore in 2021.
Fraxtal will use pooling technology that performs transactions outside the main Ethereum network, groups data, compresses it and sends it back to the main network. The frxETH stacking token will act as a gas for blockchain transactions.