The new blockchain that is currently dubbed FraxChain will be a fully EVM-compatible easy-to-code environment for all types of decentralized applications. All assets of Frax Finance ecosystem will be natively available on FraxChain.
frxETH will be used for gas fees on the new network. Users will be able to bridge their assets to it via FraxFerry, FraxChain's decentralized bridge. Users will also be invited to restake their frxETH synthetic assets as sfrxETH to earn extra yield on their liquidity. As a result, the new blockchain will be an outstanding solution of many issues dangerous for the modern L2 ecosystem:
This design has multiple beneficial factors that will set Fraxchain apart from other L2's and rollups: faster transaction finality, enhanced security through validity proofs, increased throughput, capital efficiency, decentralization capabilities. frxETH will then be redistributed among veFXS holders. The launch of a viable version of FraxChain is scheduled for Q4, 2023.Also, FraxChain will natively support account abstraction from the very beginning. This is the most anticipated upgrade for all EVM blockchains that can turn every wallet into a decentralized bank.
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