So far, I have analyzed the most complex DeFi and there is a high probability that there will be an airdrop in February next year. Because there are very few people who understand it, but it is also one of the most active assets on Pendle. So there are real investment opportunities. After all, it is one of the five major DeFi protocols!!! He is - @ fraxfinance V3 Ecological token: one Stablecoins: frax In the early days, it was for stability calculation, but now it is a fully collateralized stablecoin with pure collateral and AMO, which is the fundamental asset of the entire ecosystem Its collateralized interest earning token is sFRAx two FXS (Frax Shares, governance token) The core value capture token of Frax ecosystem The total amount is fixed and never inflates Used for governance, pledging, and its interest earning token is veFXS All economic values (expense income, bond yields, liquidity management) are ultimately linked to FXS 3. FPIS (Frax Price Index Share), FPI (Frax Price Index, Anti Inflation Stablecoins) The two tokens that are very active in betting against CPI on Pendle have a very complex mechanism. Due to space limitations, temporarily skip 4. frxETH (interest bearing ETH system) Model similar: stETH/rETH But Frax separates withdrawal liquidity from returns FrxETH represents the liquidity of ETH, with its collateralized interest earning token being sfrxETH (One of the largest YT/PT assets on Pendle) 5. FXTL (Frax's new token to be released in 2026) This is the hottest one recently: Governance/Incentives and Gas Toke of FXTL=Fraxtal Layer2 Fraxtal is Frax's upcoming L2 public chain Ecological construction reward The governance core on Frax L2 in the future Expected airdrop in Q1 to Q2 of 2026 The Relationship of Token Economics: ┌──────────────┐ │ FXS │← Frax Ecological Full Value Capture └─────┬────────┘ │ (Governance) ┌────────────┼────────────┐ │ │ │ FRAX/sFRAX frxETH/sfrxETH FPIS/FPI (USD) (ETH) (Anti Inflation System) │ │ └-------------- → Fraxtal L2 → FXTL (New Coin) How to brush hair:? Potential grooming behavior: 1. Early users Bridge FRAX, frxETH, ETH on Fraxtal L2 Conduct transactions and deploy contracts (Dev score) Provide liquidity for DEX/lending on L2 Use the official cross chain bridge 2. Holding Holding FXS (High Power Key Name) Holding sfrxETH (pledged version of frxETH) Holding sFRAX Or the corresponding YT of sfrxETX and sFRAX Or provide liquidity for YT 3.LP Participate in Frax LP/Liquidity Pool frxETH/ETH FRAX/USDC sFRAX/FRAX sfrxETH/frxETH How to check your FXTL score? The official document states that FXTL points are managed by the "Fraxtal Points" main contract, and users can check their accumulated points through this contract. The contract address has been made public (on the Fraxtal chain): 0xaB4b7c5C9A7C8EBB9787085A6C3550ad4Ed3f97 (FxtlPoints contract) Go to "Read Contract" ->enter your wallet address ->view your points Why is checking scores so troublesome? Afraid of you brushing your score, do you like to do it or not Strategy:? This long article is definitely not called a guide. I will combine various behaviors to earn points later. Write a fool's guide. If you don't have the patience to wait for answers on your own, you can bookmark this article and follow my subsequent updates~