According to Wu, Frax Finance announced that it will launch the "North Star" upgrade on April 29 at noon (Pacific Time). The original Frax Share (FXS) will be renamed to Frax (FRAX) and will become the gas token of the Fraxtal network, permanently existing as the only commodity token used for security mechanisms within the ecosystem. FXS on Fraxtal will be automatically converted to FRAX at a 1:1 ratio; users of FXS on Ethereum can complete the exchange through cross-chain bridges after April 29.
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Frax will launch the North Star upgrade on April 29, with FXS renamed to FRAX and serving as the Fraxtal gas token.
According to Wu, Frax Finance announced that it will launch the "North Star" upgrade on April 29 at noon (Pacific Time). The original Frax Share (FXS) will be renamed to Frax (FRAX) and will become the gas token of the Fraxtal network, permanently existing as the only commodity token used for security mechanisms within the ecosystem. FXS on Fraxtal will be automatically converted to FRAX at a 1:1 ratio; users of FXS on Ethereum can complete the exchange through cross-chain bridges after April 29.