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💫 FRAX SINGULARITY SPACE 💫
Recorded: March 29, 2024 Duration: 0:50:36Space Recording
Full Transcription
This video is brought to you by S.T.A.L.A.L.D.
it's looking extremely bullish um again these are estimates not financial advice in any way but
people like to look and compare so i was just doing that the other day and uh i i liked what
i was seeing yeah yeah for sure it's funny uh when ve fxs first started you know it was first
a burn uh and then it was like oh like why don't we just you know break you know give it all back
to ve fxs holders and now with foe and fxs being this pairing with all these different m2 assets
uh when you were talking about this it kind of was reminding me how kind of with right now with
solana and all the meme coins you see all the all the locked liquidity like all liquidity getting
locked and that's kind of like a pseudo burn for solana like against all these different meme
coins this is kind of the same thing happening but like instead of for meme coins it's happening with
like useful m2 access assets is that like a good comparison yeah and and also like you said
originally the the unifying like the singularity token in in all these like uh liquidity is fxs
because that's the the thing that uh basically essentially is governing all of these assets and
and the uh modular roll-up so basically um actually the the motivation here i will say in terms of theory
is like before the singularity roadmap and a lot of people that are like frax molests in the community
might might like already know this is like most of the liquidity and the pairs for uh frax tokens like
frax assets and everything across chains on ethereum mainnet has basically been to focus on the stable
coins and the lsds and things and if you think about it uh fxs was kind of the second class citizen it's
like oh you can stake it for revenue and or like governance and stuff but like you said it didn't
feel like a l1 or l2 token where there's a lot of liquidity against it in a diverse set of pairs and
it almost is just this kind of like functionally relegated kind of token and there's like oh maybe
one or two uh liquidity pairs like on frax swap or like on on like uniswap or something that changes
totally uh with this uh singularity roadmap right in fact there's like this figure that i that i made
that essentially every single pair of frax assets and hopefully even more as people see how important
of a piece of the whole whole picture fxs is that everything has unifying liquidity to fxs the same way
you were talking about solana right all of these meme coins uh essentially have uh liquidity against
solana and like same thing with just any l1 right you look at eth every every like base pair
is against eth right every base pair on solana is against sol and there's just this shelling point
of people that understand like hey well there should just be a pair like against this this unit because
it's extremely important and that you know begins genuinely with uh fxs and the singularity roadmap so
you're totally right and i actually expect more and more people you know on frax still as people build
there is a few meme coins on frax still like like rwa kfc a few other ones and i expect obviously there
will be um a bunch more and uh it would be cool to see um a lot of them also have liquidity uh against
fxs too and and whether they do or not like you're saying it doesn't matter because every dollar of
revenue will just actively increase the fle pol which is a very very powerful mechanism
and this is all happening on the application level this is incentivizing liquidity at the
application level we haven't even gotten to the role of infrastructure level with fractal yet and so
and moving on to frax so um in a recent thread uh we had narrow off highlight how fractals really
focusing on innovating the da layer um what exactly is going on there um why post like why post da to
multiple multiple places does that get expensive and like what exactly is fractal trying to do with
settlement and with da's yeah so that's a great question and again i think it's it's good to take
like one step back and kind of first both highlight the uh overall overarching view of like how the roll up
itself uh matches and and actually increases the synergy with the m2 assets the stable coins uh lsds and
uh flat coins and everything and then kind of go into the the tech part of it and executing on that
and so first thing uh i i want to say is like the way that i view how the frax assets and the defy layer
interacts with frax so directly is that essentially the way to think about it is after the singularity
roadmap everything essentially gets issued on frax still and so what that means is uh most of the actual
uh the the actual collateral that backs all of these things like frax the dollar pex stable coin
um the staked frax ether the the lsd and all these as much as possible that collateral will actually
uh live on frax still so you can think about it in a way where uh like let's say frax you know the
dollar pex stable coin has like a hundred billion dollars of tvl years into the future right hopefully and
the the way to think about that is at least uh on frax still there should be at minimum around a
hundred billion tvl on on the roll-up right because if issuance and collateral is mainly held
on frax still going forward after the singularity roadmap that means that the the floor tvl of the
actual roll-up is the tvl and backing of all of these m2 assets as a whole and then so the next
question there is okay well that's great uh coinbase is also if you guys saw there they're
saying they're bringing stuff on uh on on base and on chain they're holding usdc uh customer usdc on
uh on base but then the next question is that's great but what what does this get you other than
really cool stats on on like l2b or or defy llama or something like that which is pretty cool but then
what else right what else does it uh do for you well it's a very very powerful thing because
you can safely actually hypothecate this collateral into growing the the actual chain and and the
ecosystem uh in in a manner where you turn the demand for the stable coin uh across all the other
chains into liquidity and and demand and and yield on your own roll-up and so let me give you an
example of what that means so let's say uh like you you might have seen let's uh frax is going to be
issuing frax assets on on phantom sonic network we also had a recent partnership with with near to
expand frax assets on on their uh defy you know layer and mainnet as the frax asset and and demand
grows on all of those chains right what happens is frax needs to get minted and there needs to be
backing for frax right and so again where is that going to happen that's going to happen on frax still
so whether you know frax is backed by tokenized t-bills or other uh other stable coins that that
are good risk adjusted yield like uh athena's susde or other things all of that tvl will be held on
frax still and the more demand for frax assets on phantom for example near long list of chains that are
coming metis all of these other l2s that we're already on as the demand for frax on those places
increase the assets on frax still that is on the balance sheet will also increase and so what what
can you do with that well for example you can have curve pools that are extremely liquid for those
assets right and and even though those assets are backing the frax stable point there's no reason why
they can't be in an extremely safe curve pool or blue chip defy uh protocol right or those assets
can actually be lent into uh safe over collateralized frax lend positions right so like let's say you have
uh you know another stable coin ty usd which we have a good relationship with or even usdc right that
backs the frax stable coin partly right well what you can do is you can take that on frax still and you can
deposit it as a lending uh side on for example a uh staked frax ether pair right and then you get
additional utility for your lsd tvl on the defy layer on frax still fully backing the the frax stable
coin because again this is not like a terra luna you know under collateralized system it's an extremely
safe over collateralized fully backed system that you can actually use this this mental model of growing
a chain and a defy layer and an ecosystem with the increasing monetary demand of your m2 assets in
other networks right so so as demand for frax everywhere else on multiple chains increases what
that necessarily means right the the functional way of thinking about it is the actual value liquidity tvl
utility and and the growth of frax still itself necessarily increases and this is a really powerful
way to uh mentally model how frax still is going to grow and how it directly uh relates to frax assets
this is an extremely synergistic way to to to do it and i know you asked a little bit about the da layer
but i wanted to first actually tie everything together so so people understand exactly how we're thinking
about it and and so when they see stuff like uh oh frax is you know expanding to phantom sonic and it's
expanding to near and and you know you guys are going to see a lot of other chains people might
scratch their head and be like well what what's what's going on with frax still i thought they're
going to like you know stop issuing it on other chains and focus on frax so that's totally the opposite
and and and the and the it might sound counterintuitive but now that i've explained this model i think
people understand is using monetary premium and demand for your uh asset that that is natively originally
issued and originates on on your uh blockchain you can actually expand the the value tvl liquidity
use cases of your blockchain in a way that like no one else no other you know blockchain uh developers
can actually do other than frax and it's a very unique and powerful system right so what you're saying
is if that's you're expanding to near just abandon sonic all these other chains as frax tvl and
circulation grows on those chains they will grow on fraxtile as well because it's minted from fraxtile
like fraxtile was the source the base yeah exactly the the collateral that backs the the frax will be on
on fraxtile right and so yeah that that's the that's the key thing like let's say um there's there's going
to be like as an example a billion dollars of demand for the frax stable coin on uh phantom sonic right
that we recently have a a big partnership with well that one billion frax on phantom it's got to be
backed by something right and again we we've approached the uh era where frax is fully collateralized just
like die and everything else right and so that collateral has to be somewhere right that collateral
will be on fraxtile almost entirely and so what can you do with that collateral well you can do
very very very very safe rehypothecation to increase the actual uh liquidity and use case of of the
blockchain right you can put that in curve pools right let's say that one billion uh backing is in
you know a rwa partners you know tokenized t-bills or something right and for example you know people
have seen the blackrock news right they they've tokenized their uh their actual um t-bill fund right
there's other places that that have tokenized t-bills right like ondo and other things there's
also other stable coins that the frax uh on on phantom can be backed by let's say s-u-s-d-e well
all of that will be located on fraxtile right and then and the question there is well what can you do
with it a lot of stuff as long as it's very very safe right you can do a lot of stuff and you can
actually increase the the actual uh demand for for your blockchain that way and so the the goal here is to
build as much monetary premium and integrations for m2 frax assets everywhere so that everyone
actually wants to use them and then translate that demand into partnerships and and collateral
backing with strategic partners on fraxtile itself okay understood the collateral lives on fraxtile and
from there you can rehypothecate and increase monetary premium i i got it yes sir okay and so
now moving on to the da layer how does this what you guys are doing with da how does this play into
it all yeah so fraxtile is a modular roll-up which means we separate out uh the core critical components
of uh the the blockchain and so as a lot of people probably know the the modular thesis is that there's
basically a few important uh modules that make up a blockchain right there's uh execution environment
right the the smart contract system of a blockchain um for everyone listening that the execution environment
on uh fraxtile is opstack and it's super chain compatible so we are uh as easy to build on as base
optimism any other evm uh based system something that's very familiar with with everyone uh and then
additionally the there's two other pieces of uh modularity right consensus and and uh ordering and
then da right data availability where the actual uh data for all the blocks is is based out and so
one of the things that we've uh we've done with fraxtile is we have the ability to post uh da on the
fly to multiple locations whether it's ethereum blobs or celestia uh near da people might have uh seen in
our partnership one of the things we're directly exploring is uh also posting data on near da and
so what this allows us to do is either transition uh sometimes to the the cheapest places or like you
said post it to multiple places uh either one and so that actually allows us to do two important things
one is fraxtile is always going to be the the cheapest place to actually do uh development and
build things even if block prices on ethereum get very high um so you might have seen for example base
uh super good fees and then depending on the block prices going up or down uh the actual fees get
uh affected a little bit right with uh fraxtile right now any swap is under like one cent um any erc20
transfer is uh under one cent as well and then those prices are actually expected to come down by another
uh 80 to 90 percent after we finish our ecotone upgrade in terms of the execution environment and
so it'll always be one of the cheapest places to actually do uh any kind of transaction specifically
because how quickly the da module can actually change where and what uh place it actually posts the
data and so now directly to your question about posting to multiple places uh why would we do that and
so the roadmap with for fraxtile and in the singularity roadmap is a uh l3 based roadmap and so one of
the most important things is we want to foster a growing ecosystem not on just fraxtile mainnet the
the modular roll-up but uh a lot of l3s that settle on fraxtile and whether they're app chains social
fi uh you know ai chains inference chains any of these things uh we want to foster that environment and
actually make sure that people can build on top of below you know on the side of fraxtile and like
you know call it building on a fractal right wherever uh people want to actually uh build and
connect to the actual chain in the frax economy right uh the the important thing is when you want to be an
l3 right you have this decision of what where you want to post the da where you want your enshrined bridge to
be and what framework for your blockchain you want to use do you want to use for example an arbitrum you
know uh nova fork or an op fork for the execution environment or like soon i'm sure there's as you
guys probably know a lot of different roll-up frameworks that are coming that people can can
select from our goal is to be as less and low opinionated about any of that stuff as humanly possible
and so for example if we only posted da to one location let's say we only posted it to uh ethereum
then you could think of a uh potential l3 would think okay well i'm really interested in settling on
an extremely extremely cheap l2 so that my stuff is uh extremely cheap and so like i want to settle on
you know somewhere that eventually goes on celestia not like ethereum or or something like that or other
you know more ethereum aligned projects obviously will be like i want to settle on ethereum and not
these uh alternative da's because you know ethereum is the best right and so the cool thing is we can
do that in a totally unopinionated manner we can continue to post da on on blobs on celestia on near
um and in all of those places and so people can be l3s on frax still knowing that whatever they want
uh we can actually give them and then also they can pick any framework for rollups so for example
um a lot of people that are you know looking at being an app chain or something like that
they usually go and they talk to you know the arbitrum you know foundation or labs and or like
op labs and and uh or polygon and these major rollups we actually don't have like a framework for for
building rollups because we we're not trying to compete in zero sum with you know polygon zk evm
op stack or or arbitrum in fact teams should pick whatever they want whatever relationship they want
with the the framework uh that that actually um they're most comfortable with and then when they
decide where they want to settle which means where their uh native bridges and then where their you know
data availability pipeline is then they should consider settling on frax still and no matter
what they actually decide to use we'd be more than happy to invest incentivize uh allocate frax still
points and do what we do best no matter what kind of software or da pipeline they use so does that help
basically answer the question of like how come uh there's this you know special da module that
both keeps prices down but also keeps frax still very unopinionated yes it does uh we we understand
now basically gives those who are looking to build l3s complete optionality uh in their stack uh speaking
of l3s do you have any in the proposal you said oh we have two confirmed our goals to have 23 uh in the
pipeline coming out with frax still l3s do you have any hints of who they could be i mean i could guess
but i'm wondering if you could uh spill so many alpha or anything yeah well first uh actually the
good point that you brought up the 23 l3s because i think that's very uh important uh in the singularity
roadmap part of our l3 vision is in the first year to have 23 l3s and that sound that might sound like a
weird funky number but the the goal here is for frax to work very directly with a small
but but substantive number of chain teams that want to actually integrate into the uh the the
the frax economy want to have frax native yield want to actually build something that uh works
directly with the frax core devs and i think if you think about it in a in a year from now if we have
anywhere near 23 uh that would be a huge huge uh incredibly core part of the the crypto industry and
and l2 with billions of tvl and anywhere between you know 20 20 something l3s and the reason we
picked that low number by the way is because we really really care about working very directly with
projects and you know it's so easy to be like oh you know we're gonna have thousands of l3s frax is
incredible and like everyone just you know launch hundreds and then thousands of l3s and things like
that and maybe that might sound a little more bullish if the if if i write something like
you know the goal is many many thousands and and more than anyone else but the reality is what we
want to do is we want to have a very close relationship with app chains and teams that
want to plug into the the growing frax ecosystem and you just can't do that if there's uh if you're
trying to say hundreds and everyone come and deploy uh and and there's not enough hours in the day or
direct uh money to make very very large investments and grants and allocations to app chains on on that
level you can do it with like 10 20 right or specifically 23 is our target but you can't do it for
that 500 right let's be honest and so what we wanted to make sure people know is that the spots are open
um as you said we're currently talking to two uh teams for the inaugural ones i i won't say their
their name uh but but it's going to be really good once we uh actually do the the joint announcement
especially because i don't want to take any of their thunder um but the goal is that we want to have
a a tight-knit but substantive family of app chains and settlement uh happening in the first year we want
to work extremely closely with those teams and there's only a limited amount of spots because
we want to actually allocate a lot of resources to them right and so if these two uh deals go through
there will be 21 uh kind of left for the for the next year or so and uh i think that we'll be able to
close all these slots and have a very very rich ecosystem of l3s and settlement uh on frax so that's
that's the number uh and the reasoning behind it i thought it was because of jordan and since he's
number one that's the real we're aspiring we're the uh the jordan uh roll up uh but uh quality but not
quantity uh for sure uh so with fractal how does value accrue to fxs uh with fractal uh at that level
yeah that's a it's a great question um so actually uh it's it's hard to actually explain how synergistic
all of the pieces actually are uh because when when you kind of see it and we're we're building and
talking to uh all these teams you actually see how a lot of the conversations for example i have with
uh people for i'll just give some names like eigenlayer and abs teams or or like uh you know
roll up as a service providers and all of them there's one thing that everyone always says which
is like wow frax as as like a as like an ecosystem is so synergistic and so full stacked there's like no
other protocol or ecosystem like it because for example with like eigenlayer just as an example we
have a you know top lsd with about a billion in tvl we're able to have abs support but since we have a
roll up we're also able to be a avs customer of various avs teams for important uh features that
they're building and for example dual token staking of fxs in these uh abs systems as well as eth right
and the reason we can do both of those is we have a chain and we have a top lsd this is not actually
uh possible with like any other protocols i'm sure eventually there will be other you know teams maybe
lido will have an l2 or or something like that but frax is basically the first and biggest full
stack ecosystem and so one of the things that everyone always talks about is like when i talk
to them about strategic partnerships everyone is very impressed and excited because they're like
there's so many parts of the stack that we can create value on together whether it's deploying
like an app on fraxtel mainnet uh joint liquidity uh restaking with uh frax ether v2 which will have
restaking support um building uh on top of or or like a fraxtel module together right and in doing all
of these things is not possible with uh any other ecosystem and so the the thing that connects all this
stuff together as you said is fxs right so if we actually are going to build avs's with dual
token restaking which is a conversation we're having with uh multiple partners obviously that token will
be fxs and then eth right in terms of uh avs eigenlayer restaking services if uh there's a a sequencer
decentralization roadmap that will actually obviously be uh governed by fxs and i actually anticipate fxs
staking for uh consensus modules if eventually we want to do something that's very very uh
important in the settlement space and then also obviously the most clear one is uh sequencer
revenue right which is the the ground is set for that because of the way that the singularity roadmap
distributes all of the the fees so that'll actually be huge and so when that gets going
uh i think you can kind of again there's there's estimations you can make um again it's not financial
advice it's just you know benchmarks i know people in crypto especially defy like to do a lot of data
modeling currently for example as like a top-end benchmark base is making about two to three
million dollars of uh essentially um profit uh but overall revenue after you subtract most of the
blog costs and so you can easily imagine uh when fraxel starts moving up the ranks what that kind of
revenue numbers added on top of the other parts of the the ecosystem would look like for the fxs
token so anybody could partner with frax in any different part of the stack whether it's the
application level or more of the infrastructure level there's something there for you with frax
yes sir frax the singularity the single this is a singularity coming to to fruition uh but speaking of
uh frax assets uh you mentioned uh a bit about s-frax and s-frax seat in a post-frax world uh the new
target rate for s-frax you anticipate being 50 percent well s-frax seats will be able to take advantage
of everything that comes with frax t v2 as well as lrt optionality kingo in a bit with the future of s-frax and
s-frax seat yeah and this is an important actually part of uh our our entire uh singularity road map
and honestly probably one of the most critical parts because it's what creates monetary premium
and demand across all of the places that both of these assets are issued uh i can honestly have an
entire uh you know twitter space is talking about the the um the economics behind yield and risk
adjusted yield and should people be developing a stable coin that's basically extremely safe with
like very little yield or farther out on the uh risk curve but uh yields a lot you know like
and and so um that is a conversation for for like a philosophical and economic conversation probably for
other twitter spaces perhaps with like other uh you know stable coin and lsd founders um like maybe people
from athena uh ruin from maker however what i will say is that our philosophy with going forward in the
singularity roadmap is that frax and frax is m2 assets right specifically the dollar pex stable coin uh
frax ether they should give the best risk adjusted yield for the safety that the yield actually uh
uh like like like the yield that actually is given back to the the community and and holders and what
i mean by that is that it doesn't mean that uh frax the stable coin is the the safest and and basically uh
always going to be backed by you know t-bills or or rwa assets nor does it mean that you know the frax ether
lsd is always only going to be backed by vanilla validators that don't partake in any risk at all
right and as you can see with frax ether v2 there's uh lsd and restaking support so like uh they can be
backed by lrt tokens they can be backed by avs services and for like you said as frax ether we're
increasing the apy to 50 uh at the top end for a for a dollar uh peg stable coin which i think once
that goes into effect it would be currently higher than uh athena i think which is like 35 right now
and way way higher than um maker which is at like 15 to 13 for the dsr on esti and again the philosophy
here is to be as as safe as possible in a risk adjusted manner for the actual yield that you're
giving you don't want to necessarily always optimize for uh safety and near zero yield nor do you want
to optimize for something ridiculous like uh you know um tara or anchor or something that's in extremely
unsustainable uh pushing the protocol to insolvency what you want to give is you want to know
you want everyone to know frax as the safest place to get the best yields right and so what that means
is our ability to design systems that give the best yield in a risk adjusted manner is what sets us apart
from everyone else not that we always are that the safest thing in in the world not that we're always
the riskiest thing in the entire world is that you get the best uh bang for your buck if you pardon the
pun for every m2 asset that you hold in the the frax ecosystem and frax is already a lindy name it's been
out for for multiple years through uh an entire cycle um it's performed very very well um you know
knock on wood there hasn't been any uh critical issues no one's ever lost money uh for having you know
uh assets in frax through like a smart contract issue or or anything like that and that's the
value that people get and should expect to get and and the reason for integrating for example s-frax uh
s-frax eth they will know that they're getting the best possible risk adjusted yield uh in the
decentralized finance and the decentralized stablecoin lrt ecosystem that's the goal
got it yeah that's a great idea have a space or a show with you know all the major stablecoins
because the landscape has really changed and has been shook up i feel like all the stablecoins have
learned their lessons from last cycle and i've taken them to innovate the cycle to be safer and also to
offer you know pretty pretty good yields uh which is pretty cool to see um my so this leads to my final
question uh you know frax has been around for a number of years three and a half years at this
point uh when frax launched it was a hybrid algorithmic stablecoin now with the cr reaching 100 we are well
well past that era um how would you summarize frax in this new age uh what is your frax one-liner
yeah i think the the frax one-liner um honestly overall uh is the is actually the current uh twitter
description of of the actual uh frax account and so like i'd say the developers of frax still modular
roll-up with uh fractal scaling tech and issuers of the most innovative m2 digital assets right and
again we talked about what m2 digital assets mean best risk adjusted yield um and and basically the
the second most safest thing underlying an m1 asset right which is like pure cash or pure eth or pure
btc or things like that right um that's the one-liner i think it makes a lot of sense uh as you said this
new era of frax the dollar pex stablecoin being fully collateralized is again a a vision and a reflection
of the fact that what we want to give and and create is the best safest risk adjusted uh yield and
asset in the m2 digital you know ecosystem and d5 it doesn't mean that we're the the safest entirely
compared to every single thing it doesn't mean that we are the the most degen it means that it's the
most value uh and so integrating frax assets everywhere uh makes the most sense right and and in fact
that's why the cr is at 100 took a while as you guys know people in the community know it was a
uh a while of no revenue distribution um and basically uh increasing the the assets on the
balance sheet but then now that this is this possible frax is fully collateralized everything
uh is is ready to uh basically start the new singularity era and to not l2 uh wait before we
go uh i have one more question uh and it's about the flox mechanism uh when does it launch can we go
into a bit more for those who are unfamiliar because you know i'm sure people have heard about it but they
might not be familiar with the details but what is flox and what do you exactly what what are you guys
exactly trying to do with it and when should we see it live yeah actually a great great last question
because uh it's actually a huge thing um that we didn't talk about and uh i was actually just talking
to taroon uh from gauntlet for people that know the the gigas brains of all uh gigabrain and he actually
told me that for him the most interesting part of a fraxel uh is is not like a um you know blockchain or
something because there's like going to be a bunch of more blockchains that's all cool and stuff but
he said the the most interesting part that he keeps thinking about that he thinks is really novel and
and new and and probably the most part of his you know attention that he's seen in the docs and stuff
is this flox mechanism which we call uh block space incentives or uh flox for short and the idea behind
it is that uh popular contracts popular uh places to you know uh interact with assets holding you know
different assets on fraxel and everything just automatically earn fraxel points and the short
you know one liner of it is think of eip 1559 uh which is like how popular and uh in demand is block space
currently right and then that is an equation for how much eth people have to burn to get their
transactions included this is the reverse it's how popular is uh the contract and the current amount
of uh block space in fraxel but instead of how much eth you have to burn it outputs the amount of
fraxel points that uh you earn by interacting with those contracts and paying for gas it's like the
inverse of eip 1559 it's a reward mechanism for uh anyone either users or developers of smart contracts
that that build on fraxel and the idea is this algorithm is always running it's not an airdrop it's
not like uh this one-time campaign uh it is actually part of the chain that everyone that interacts with
popular contracts or the actual popular contracts themselves so the developers and the protocols
that deploy them uh earn fraxel points based on this flox algorithm and it's a really novel idea
because you can think about it in a world where everyone's trying to get attention for their own
blockchain their own l2 and and capture uh people's like like mindshare this is always running right
and so like if you actually can uh create one of the most valuable applications or have one of the most
valuable assets that people are interacting with the the erc20 contract on fraxel you will get a
disproportionate amount of fraxel points compared to the gas that uh your contract uses this is not a gas
rebate system uh again because that wouldn't make sense right because we previously talked about how
fraxel will be the cheapest uh and most high-performant place on on most l2 uh ecosystems and so it's not a
rebate it's not like a a gas sharing program it's actually a program that uh distributes in an egalitarian
and transparent manner the the fraxel points of the ecosystem to the most popular applications and it's
actually pretty hard to game the the math is a little bit uh out of the scope of the this this uh
this twitter spaces but the doc the docs are up for it people can actually go and uh check it out
um the docs are you know cool enough that it got taroon's attention so like the you know you've got to
know the math is uh pretty interesting in terms of how it makes gaming the system difficult uh and so it's a
really novel mechanism and to answer your question it's actually been out and running for about two
two weeks now um since march 13th there is no ui until very shortly so so the ui uh has not been out
so that you know people might not think they're earning fraxel points interacting with contracts
or deploying contracts but they actually are and you can check any balance uh of your address or a
contract you've deployed the address on uh frax scan uh through the fractal points contract it's
already running it's already live in fact if you want to you know earn fractal points before anyone
else because you're you know you're an early uh you know points earner points degen you could probably
earn a very disproportionate amount of uh frax points uh fractal points because no one else really
knows however the ui will go live probably in the next couple days um everyone will be able to see what
the popular contracts are how much fractal points they're earning per block how everything works and
i anticipate there will be a uh exponential increase in in activity and traffic and tbl into fractal
you heard it here guys we're early uh go stack up those fractal points uh go use track so go go follow
sam go follow flywheel uh go follow me uh i'd like sam thank you so much for coming on
as always dave it's a pleasure thanks guys for attending and uh really excited for the singularity
era of frax yes the singularity era and we'll see you on chain thanks everyone
