Ethereum Layer 2 (L2) network Frame announced today that users who have participated in NFT transactions on the Ethereum network for which they have paid royalties over the past two years can now apply for an initial FRAME token airdrop.
You can apply for the airdrop here.
The Frame mainnet and accompanying tokens are scheduled to launch simultaneously on January 31, 2024.
FRAME tokens are non-transferable until the next phase begins.
Frame also disclosed the successful conclusion of its initial funding round, led by Electric Capital and community members.
Investors and advisors include Dingaling, 9GAG CEO Ray Chan, and Azuki project founder Zagabond.
Frame is an NFT-focused Ethereum rollup.
The custom execution client is designed to optimize NFT-centric use cases including delegation, standard registry reads and writes, and contract account interactions.
Palette Protocol, Frame’s proprietary protocol for NFT liquidity, will be leveraged to enforce and simplify royalties.
Rollup, a layer 2 scaling solution built on top of Ethereum, is at the heart of Frame’s functionality.
Compatible with EVM, Frame allows users to perform a variety of tasks similar to the Ethereum mainnet, including deploying contracts, using Web3 apps, and interacting with wallets.
However, Frame’s transactions are more cost-effective and faster due to its rollup characteristics, especially optimistic rollup, which inherits Ethereum’s security properties.
The core of the rollup concept is to move computation from one blockchain, such as Ethereum, to another blockchain (in this case, rollup).
Rollups expedite transactions, compress and bundle transaction data, and then post this data back to the underlying blockchain (Layer 1). All-up nodes leverage this data to determine the exact state of the chain, which the Layer 1 network leverages. Confirm your withdrawal.