Fraxtal, Frax's hybrid rollup L2, has been launched for a week now and the #1 activity for on-chain degens has been trading meme coins. So far, 4 meme coins have captured the attention of traders and are driving continued growth for the network.
Let's take a look at their analytics and see how they have preformed since network launch.
Gecko Terminal Updates
We now have a near complete view of all meme coins on Fraxtal across both Fraxswap and Ra now. GeckoTerminal added support for Ra Exchange, and so now all but Curve is featured on their page. We pulled all of our trading data from their platform.
Krypto Fraxtal Chicken (KFC)
After a week, KFC is topping the charts, boasting close to $1m in liquidity. KFC encountered front end issues with Fraxswap when it launched due to a faulty router implementation. Travis said that the issue has been found and should be fixed in an upcoming update.
KFC is currently trading below mint price as traders used the TWAMM to sell out while the Frax team fixes Fraxswap. While unfortunate that KFC ran into this router issue, potentially sentiment will shift after the updates are made to Frax's native DEX.
Telegram: https://t.me/KryptoFraxtalChicken
Real World Abs (RWA)
Real World Abs shot up 20x this past week near $2m in market cap. Then prices fell 70% after that and it's now sitting at $800k market cap with over $250k liquidity. It's been one of the most popular pairs to trade over the last week.
With the upcoming launch of FLOX points, RWA might continue its reign at the top of the charts while KFC trading issues are being resolved.
Telegram: https://t.me/realworldabs
Super Algorithmic Money (SAM)
Super Algorithmic Money is nearing the first week of its massive liquidity incentives on Ra Exchange. During this past week the meme coin provided over $50k token rewards in SAM for liquidity providers. Next week the incentive rewards will halve and supply expansion will slow. They also have alluded to a forthcoming ERC404 token/NFT in the near future.
While prices have been falling, the TVL of the pairs liquidity has remained somewhat constant as traders sell half their LP rewards and add more liquidity. Once incentives slow down, SAM should stabilize.
Telegram: https://t.me/superalgorithmicmoney
Eve the Cat (EVE)
Eve the Cat continues its growth run, with a market cap of $300k and $60k in liquidity. The meme coin has seen successful organic growth of its TG chat and the chart is up only at this point.
Telegram: https://t.me/EveTheCatFRAX
