Switch

DeFi

Strong

Frax

<img width="1920" height="1095" src="https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector.jpg" class="attachment-full size-full wp-post-image" alt="Frax Share (FXS)" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector.jpg 1920w, https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector-300x171.jpg 300w, https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector-1224x698.jpg 1224w, https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector-768x438.jpg 768w, https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector-1536x876.jpg 1536w, https://coingape.com/wp-content/uploads/2023/12/frax-share-fxs-coin-cryptocurrency-concept-banner-background-vector-150x86.jpg 150w" sizes="(max-width: 1920px) 100vw, 1920px">
Frax Finance has unveiled an ambitious singularity roadmap, setting its sights on catapulting the <a href="https://coingape.com/glossary/tvl-total-value-locked/" target="_blank" rel="noopener">Total Value Locked (TVL)</a> 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 <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener">blockchain</a> 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. 
<h2 id="fraxtal-s-fractal-scaling-roadmap-and-layer-3-expansion">Fraxtal’s Fractal Scaling Roadmap and Layer 3 Expansion</h2> 
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 <a href="https://coingape.com/top-layer-3-projects/" target="_blank" rel="noopener">layer 3</a> 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. 
Also Read: <a href="https://coingape.com/un-embraces-ai-rules-out-landmark-global-resolution-led-by-us/" target="_blank" rel="noopener">UN Embraces AI: Rules Out Landmark Global Resolution Led By US</a> 
<h2 id="proposal-for-protocol-fee-switch-and-tokenomics-enhancement">Proposal for Protocol Fee Switch and Tokenomics Enhancement</h2> 
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 <a href="https://coingape.com/glossary/stable-coins/" target="_blank" rel="noopener">stablecoin</a> 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. 
Also Read: <a href="https://coingape.com/bitcoin-btc-holders-and-miners-in-strong-profit-booking-mode-whats-ahead/" target="_blank" rel="noopener">Bitcoin (BTC) Holders and Miners In Strong Profit-Booking Mode, What’s Ahead?</a> 
The post <a href="https://coingape.com/frax-finance-releases-ambitious-roadmap-for-100b-tvl-and-layer-3/">Frax Finance Releases Ambitious Roadmap for $100B TVL and Layer 3</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Frax Finance Releases Ambitious Roadmap for $100B TVL and Layer 3

Table of Contents

Coingape News Media

Other articles published on Mar 22, 2024

US government asks for court approval to sell private jets tied to Sam Bankman-Fried

BlockDAG Presale Sparks Frenzy With $6.3 Million Raised Amidst Polkadot Predictions for and Litec...

Latest Twist in Do Kwon’s Case: Montenegrin Court Halts Extradition

As Bitcoin steadies, Dogecoin and Shiba Inu pull back, EOS and rising AI crypto present fresh opp...

Bitcoin: ‘Bigger forces than ETF’ a factor, thanks to ‘other players’

ARK Invest Continues to Sell Coinbase and Other Tech Stocks

Join our free newsletter for daily crypto updates!