Frax Finance, a decentralized finance (DeFi) platform, is making significant efforts to stand out in the DeFi world. According to recent developments, Frax has unveiled its roadmap named Singularity, with an ambitious target. The goal is to reach $100 billion in locked crypto assets within Fraxtal, which is quite impressive when considering the amount.
What Does Frax’s Roadmap Offer?
Frax’s roadmap presents a grand vision for Layer-2 Fraxtal, aiming for a $100 billion Total Value Locked (TVL) and planning to launch 23 new Layer-3 initiatives. This not only suggests growth for Frax but also indicates a rapid expansion.
A key point in the roadmap is the revitalization of certain mechanisms to increase the liquidity of the FXS governance token. With these steps, the Frax ecosystem is expected to strengthen and become more attractive to participants.
Considering the current TVL in Fraxtal is $13.2 million, the $100 billion target appears quite ambitious. However, given Frax’s past successes and the founders’ vision, they need to put in more effort to achieve this goal.
Suggestions to Contribute to Ecosystem Growth
Founder Sam Kazemian’s proposed mechanisms to increase protocol revenue are noteworthy. In particular, reactivating the protocol fee switch and sharing the revenue with FXS holders could attract more participants and contribute to the ecosystem’s growth.
Frax Finance is not only looking to grow its own ecosystem but also preparing to become a significant player in the DeFi space. Successful implementation of the steps outlined in the roadmap could position Frax to play a more prominent role in the future of DeFi, contingent on the formation of a strong community.
Lastly, the plans to revamp the token economy of Frax’s stablecoin FRAX and increase sFRAX yields are also intriguing. These steps are expected to further strengthen Frax’s position in the stablecoin market.
Having locked assets in the DeFi space is extremely important as the growth of the project is tied to this locked value. This stage also reflects the crypto community’s perception of the project, making locked value a mirror of trust. Let’s see if Frax Finance can achieve its stated goal.