Dear Bitruers,
Today, we are excited to share a new article about Frame FRAME! Be sure to follow Bitrue's Official Twitter and Telegram to stay updated!
Introduction
Frame, known for its FRAME token, emerges as a pivotal Layer 2 platform geared toward supercharging the development and potential of Non-Fungible Tokens (NFTs) in the blockchain space. This Layer 2 project, operating on Ethereum, was unveiled in September and is laser-focused on enhancing NFT functionalities by harnessing the capabilities of optimistic rollups technology, much like Arbitrum and Optimism.
Optimizing NFT Development
Frame's architecture revolves around being Ethereum Virtual Machine (EVM) compatible, offering an easily navigable pathway for dApps and protocols to migrate seamlessly from Ethereum. The platform commits itself to expedited transactions at lower fees compared to the Ethereum mainnet, catering specifically to the nuanced requirements of NFTs. Notably, Frame ensures NFT copyright fees through its Palette Protocol liquidity creation mechanism.
Transaction Fee Utilization and Governance
A portion of transaction fees contributes to a fund earmarked for supporting NFT creators and projects fostering solutions within the platform. While the FRAME token, initially serving governance roles, is currently non-tradeable, it's anticipated to play a more active role post-inaugural stages. An airdrop for users engaging in Ethereum-based NFT trades over the past two years was announced by Frame, with mainnet deployment scheduled for the end of January.
Key Features and Mechanisms
Frame champions NFT development by optimizing its execution engine for secure and efficient smart contracts, tailored specifically for NFT attributes such as delegation, reading, writing, and smart contract interactions. The platform's EVM compatibility ensures expedited transaction times, lower gas fees, and heightened security, inheriting Ethereum's robustness and decentralization.
Operational Mechanics and Sequencer System
Operating on the mechanism of sequencers batching transactions, Frame significantly reduces transaction fees. The sequencer then syncs these batches with Ethereum, wherein the State Root (network state) resides for 7 days. Any fraudulent activities prompt a dispute resolution process handled on-chain, reverting to a pre-fraud state. While Optimistic Rollup simplifies operations, it introduces withdrawal time complexities from Layer 2 to Ethereum.
FRAME Token Details
- Token Name: Frame
- Symbol: FRAME
- Blockchain: Frame
- Standard: ERC-20
Backing and Community Involvement
Frame secured funding from Electric Capital in its first round in 2023, attracting attention from notable investors and community members. The project's momentum continues to build as it gains traction within the crypto community.
Final Thoughts
Frame's optimized Layer 2 architecture tailored for NFTs seeks to accommodate tens of thousands of NFT-related transactions per second, aiming to streamline and enhance the NFT ecosystem. The scheduled airdrop in January 2024 has sparked substantial interest within the crypto community, positioning Frame as a promising player in the burgeoning NFT landscape.