Frax Finance Unveils Singularity Road Map to Reach $100B TVL for Fraxtal and Launch 23 New Layer 3s

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Cointime2024/03/22 06:27

By:Cointime

Frax Finance, a DeFi protocol, has released a singularity road map with a target of $100 billion in TVL for its layer 2 blockchain Fraxtal by the end of 2026. The proposal includes launching 23 new layer 3s and reviving switch mechanisms to boost liquidity for the FXS governance token. The plan also details new tokenomics to fully collateralize Frax's stablecoin FRAX and boost yields on staked sFRAX. FXS is currently trading at $1.35 with a 2% gain in the last 24 hours, but has declined 14% this year.

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