Frax Finance has unveiled an ambitious singularity roadmap, setting its sights on catapulting the Total Value Locked (TVL) to an impressive $100 billion by the year 2026. This strategic roadmap represents a significant milestone in the evolution of the decentralized finance (DeFi) space, reflecting Frax Finance’s commitment to innovation and growth. At present, the TVL within Fraxtal, the layer 2 blockchain of the Frax protocol, stands at $13.2 million. This current state serves as a foundation upon which Frax Finance aims to build and expand, leveraging its unique capabilities to realize its ambitious vision for the future.

Fraxtal’s Fractal Scaling Roadmap and Layer 3 Expansion

In a bold move towards expansion, Fraxtal is gearing up to launch 23 layer 3 protocols within the span of just one year. This ambitious endeavor aims to foster growth and enhance the ecosystem’s capabilities, ushering in a new era of innovation and opportunity. The introduction of these layer 3 protocols represents a significant step forward for Fraxtal, providing decentralized applications with highly customizable and interoperable networks built on top of layer 2 scaling solutions.

Alongside this expansion, new assets like frxNEAR, frxTIA, and frxMETIS are set to be introduced on the Fraxtal platform, further diversifying the offerings available within the ecosystem and catering to the evolving needs of users and developers alike. This strategic approach to expansion underscores Fraxtal’s commitment to driving value and pushing the boundaries of what is possible within the DeFi landscape.

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Proposal for Protocol Fee Switch and Tokenomics Enhancement

A proposal has been put forth to activate the protocol fee switch, with plans to allocate 50% of the yield to veFXS, the governance token of the Frax ecosystem, while the remaining 50% will be utilized to purchase FXS and other Frax assets. This strategic move aims to bolster liquidity and fortify the ecosystem’s stability, providing additional incentives for participants to actively engage with the platform.

Additionally, new tokenomics will be implemented to fully collateralize FRAX, the stablecoin at the core of the Frax ecosystem, and to enhance yields on staked FRAX (sFRAX). These enhancements seek to optimize the value proposition of FRAX and sFRAX, providing users with greater utility and value while further strengthening the overall ecosystem. By implementing these strategic initiatives, Frax Finance aims to cement its position as a leader in the DeFi space, driving innovation and value creation for its community and beyond.

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The post Frax Finance Releases Ambitious Roadmap for $100B TVL and Layer 3 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am