Author: Nikyous, encrypted KOL; Translation: Blockingxiaozou
Frax Finance announced the launch of Fraxchain – L2 hybrid rollup. The fourth largest LSD protocol aims to provide more utility for FRAX, frxETH, and FXS. FXS also plans to deploy a decentralized sorter. This could change the L2 world forever. Let’s take 2 minutes to learn everything you need to know.
1 , What is Fraxchain?
- Balancer: Disabled the fee feature that may affect the mining pool, no funds are at risk.
- Review of Binance Labs’ investment projects for 2023: Neutron, Maverick, Polyhedra
- Optimism has been renamed to OP Mainnet, with the aim of creating a “superchain”.
Fraxchain is a 2-layer rollup provided by the Ethereum mainnet for security. The network will emphasize decentralized finance.
2 , What are the advantages?
The governance of Fraxchain will be led by FXS token holders. The network supports the use of FRXETH, FRAX stablecoins, and SFRXETH as transaction fees. The generated fees can be partially destroyed or allocated to FXS governance token stakers.
3 , Online time
The network is scheduled to be completed by the end of this year. Founder Sam Kazemian said: “Fraxchain essentially represents the pinnacle of the entire FRAX ecosystem, as well as all the attention and usage we have gained.”
Is Fraxchain an Optimisitc rollup or a ZK rollup?
4 , Hybrid rollup
Fraxchain consists of both Optimistic rollup and ZK zero-knowledge proof. This will achieve faster transaction finality and decentralized sorter functions.
5 , Sorter
The decentralized sorter is a node specifically responsible for sorting and packaging transactions on the rollup network. This feature will distinguish Fraxchain from other second-layer solutions on Ethereum, as other solutions typically rely on a single sorter.
6 , VeFXS
Fraxchain may choose to adopt EIP-1559. This means that fees can be destroyed and the corresponding value can accumulate in the hands of veFXS holders. VeFXS holders can also choose to introduce bribery markets to the sorter.
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