Frax

Optimism, a layer-2 scaling solution for Ethereum, has announced the opening of applications for Retro Funding 4. This funding round aims to reward the impact of onchain builders within the Optimism ecosystem. A total of 10 million OP tokens, the native cryptocurrency of Optimism, has been allocated for this purpose. Interested builders are encouraged to review the eligibility criteria and submit their applications before the deadline of June 6th, 2023, at 7:00 PM UTC.

Frax, the fractional-algorithmic stablecoin protocol, has announced the Fraxtal Hackathon, a major event for developers to build on the emerging Frax chain. The hackathon offers over $345,000 in immediate prizes across three tracks, with an additional $5 million+ in follow-on prizes to be announced. Winners will receive direct support and investment from Frax's network of VCs and angels. Project categories include perpetuals, DEXes, SocialFi, GameFi, Layer 3 appchains, DeFi, and stablecoin infrastructure. The hackathon is being run in partnership with DoraHacks, and the submission deadline is June 21st. Developers are encouraged to join the official Telegram group, read the rules, and register their projects.

The Frax Protocol has announced a new initiative to incentivize Layer 3 (L3) teams to launch their projects on Fraxtal, the protocol's Layer 2 scaling solution. L3 teams that join the Superchain Collective and launch on Fraxtal will be eligible to earn direct rewards in the form of $FXTL and $FXS tokens, as well as additional perks from the OP Superchain. This move aims to attract more projects to the Fraxtal ecosystem and further expand the capabilities of the Frax Protocol.

A detailed analysis has been published exploring the potential outcomes of the $FXTL points airdrop by the Frax Protocol. The analysis delves into multiple scenarios and is being recommended as a highly informative read for those interested in understanding the implications of this airdrop.

Frax, the world's first fractional-algorithmic stablecoin, is set to launch on OKX's new zk-rollup Layer 2 network, XLayer. Frax assets will be available from day one, powering decentralized finance (DeFi) and yield opportunities on the network. This follows recent integrations of Frax on the Metis and Base Layer 2 networks, as the protocol continues its expansion across various Layer 2 ecosystems.

The Frax Protocol, known for introducing the world's first fractional-algorithmic stablecoin, has announced the upcoming FraxtalBuild event scheduled for May. This event promises substantial prizes, investments, and rewards worth millions. Further details are expected to be revealed soon.

The decentralized finance protocol Burrow Finance has facilitated further integration and utility growth for the fractional-algorithmic stablecoin Frax on the NEAR Protocol blockchain. Frax, a pioneering stablecoin partially backed by collateral and partially stabilized through algorithmic mechanisms, continues to gain traction across various blockchain ecosystems.

BuildWithGrove, a prominent entity in the blockchain ecosystem, has announced its support for running and maintaining Fraxtal nodes. This move aims to enhance decentralization, provide additional developer resources, Remote Procedure Calls (RPCs), and infrastructure for the Fraxtal ecosystem. The integration of BuildWithGrove's services is expected to contribute to the growth and development of the Fraxtal network.

Frax has announced a partnership with Fjord Foundry aimed at projects launching on Fraxtal, Frax's modular Layer 2 chain. Projects that raise capital on Fjord to deploy on Fraxtal can receive extra benefits, points, and incentives for launching via Fjord's platform. Teams launching on Fraxtal through Fjord Foundry may earn FXTL points, FXS incentives, work directly with the Frax Core Team, and potentially receive follow-on investments from the Frax DAO. Their treasury can grow by holding investments in yielding assets like sFRAX and sfrxETH. The Frax Core Team and certain VCs have expressed interest in investing in projects launching via Fjord Foundry on Fraxtal. Frax is actively encouraging its ecosystem and community to raise and launch Fraxtal-based projects on Fjord Foundry, which is the first capital raising platform on Fraxtal.

Frax, the world's first fractional-algorithmic stablecoin protocol, has announced that its assets will be available on the Base decentralized exchange. Base Swap will be one of the first platforms to provide liquidity and yield opportunities for early Frax liquidity providers. This integration aims to expand the accessibility and utility of the Frax ecosystem.