According to Foresight News, Frax Finance's Ethereum L2 network, Fraxchain, is expected to launch its testnet in early January 2024, as revealed by Frax founder Sam Kazemian on the official Telegram. Fraxchain is a computation Rollup, not an application chain, and plans to support any developers who want to build on it, including those building other stablecoins, LSD, and anything that does not require the use of Frax assets. Early project builders will definitely receive the most block space incentives. Additionally, FXS will be the native token of Fraxchain and will be eligible for sequencer revenue, controlling the decentralized sequencer mechanism in future updates.