Frax Finance Sets Ambitious Goal for $100B Total Value Locked in Singularity Roadmap

Frax Finance Sets Ambitious Goal for $100B Total Value Locked in Singularity Roadmap

By: Eva Baxter

Frax Finance, a decentralized finance (DeFi) protocol, recently revealed its Singularity Roadmap, which aims to boost the total value locked (TVL) of its layer 2 blockchain, Fraxtal, to an ambitious $100 billion by 2026. This would signify a 760,000% increase from current TVL levels at $13 million. Frax Finance has consolidated its core offerings with the launch of Fraxtal and attaining a full 100% Collateralization Ratio (CR).

The protocol disclosed that it has already successively generated over $45 million, achieving 100% CR. The FRAX stablecoin, which remained dormant during consolidation, and the FXS revenue share, reduced by 90% temporarily to preserve assets, are now set for significant transformation.

Designed on the Optimism (OP) network, Frax Finance distinguishes itself as one of the most widely adopted layer 2 solutions on top of Ethereum (ETH). The Frax team claims it has tailored its underlying incentives to enhance adoption while creating a frictionless experience for developers and users. The upcoming inclusion of Layer 3s (L3s) on Fraxtal is projected to further contribute to the protocol's growth and widespread acceptance.

The roadmap also reveals Frax Finance's strategy to establish 23 Layer 3s within a year, initiating the 'Fraxtal Nation' community. With substantial incentive, and investment support to these chains, Frax is looking to adopt a positive-sum approach to foster additional support to its official partners.

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