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Analyzing Fraxchain, the Ethereum Layer 2 network that Frax will launch
Author: Nikyous, encryption KOL; translation: Golden Finance xiaozou
Frax Finance announced that it will launch Fraxchain - L2 hybrid rollup. The fourth largest LSD protocol aims to provide more utility to FRAX, frxETH and FXS. FXS also plans to deploy a decentralized orderer. This could change the L2 world forever. Let's take 2 minutes to learn everything you need to know.
What is 1**、Fraxchain****? **
Fraxchain is a 2-layer rollup with security provided by the Ethereum mainnet. The network will place a strong emphasis on decentralized finance.
2** What are the advantages? **
The governance of Fraxchain will be dominated by FXS token holders. The network supports the use of FRXETH, FRAX stablecoins, and SFRXETH as transaction fees. The fees generated can be partially burned or distributed to stakers of FXS governance tokens.
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 and all the attention and usage we’ve gained.”
Is Fraxchain Optimisitc rollup or ZK rollup?
4**、mixed rollup**
Fraxchain consists of Optimistic rollup and ZK zero-knowledge proof. This will enable faster transaction finality and decentralized orderer functionality.
5**, sorter**
The decentralized sorter is a node responsible for sorting packaged transactions on the rollup network. This feature will differentiate Fraxchain from other second-layer solutions on Ethereum. Because other schemes usually rely on a single sorter.
6**、VeFXS**
Fraxchain may optionally adopt EIP-1559. This means fees can be burned and the corresponding value accrued to veFXS holders. VeFXS holders can also choose to introduce a bribe market to the orderer.
7**、Auction**
Sequencer roles can be auctioned and rotated. This creates the basis for a decentralized sorter. If an orderer is forced to shut down, Fraxchain will allow the next chosen orderer to pick up where the previous orderer left off.
8**、Why is this important? **
FRAX is the fourth LSD by TVL, and its ETH pledge is about 228,000, which is equivalent to a TVL of about 392 million US dollars. Frxchain will bring use cases to all these frxETH. This is another source of income.
9**、income**
FXS earnings are growing rapidly. As you can see, most of the gains come from frxETH. Other yield-generating chains include: ARB, BNB, MATIC, AVAX, FTM.
10**, DISTRIBUTION**
Most tokens are in circulation. There is no massive token unlocking, so inflation is minimal.
Market cap: $390 million
FDV: $537 million
Total TVL: $759 million
Market cap/TVL ratio: 0.51