Ethereum Layer 2 (L2) network Frame today announced that users engaged in NFT trading on the Ethereum network that have paid royalties over the past two years can now apply for the initial FRAME token airdrop.

You can apply for the airdrop here.

Token Details

The Frame mainnet and the accompanying tokens are set to launch simultaneously on January 31, 2024.

FRAME tokens will be non-transferable until the next phase is initiated.

Additionally, Frame disclosed the successful conclusion of its initial financing round, with Electric Capital and community members leading the way.

Investors and advisors include dingaling, 9GAG CEO Ray Chan, and Azuki project founder Zagabond.

What is Frame?

Frame is an Ethereum rollup with a focus on NFTs.

Its custom execution client is designed to optimize NFT-centric use cases, including delegation, canonical registry reads and writes, and contract account interactions.

Palette Protocol, Frame's dedicated protocol for NFT liquidity, is utilised to enforce and simplify royalties.

Rollups, as a layer 2 scaling solution built on Ethereum, are integral to Frame's functionality.

Being EVM-compatible, Frame allows users to perform various actions comparable to the Ethereum mainnet, such as deploying contracts, using Web3 apps, and interacting with wallets.

However, transactions on Frame are more cost-effective and faster due to its rollup nature, particularly as an optimistic rollup inheriting security properties from Ethereum.

At its core, the rollup concept involves shifting computation from one blockchain, like Ethereum, to another blockchain, in this case, the rollup.

The rollup processes transactions swiftly, compresses and bundles transaction data, and subsequently posts this data back to the underlying blockchain, which is the layer 1.ollup nodes leverage this data to determine the accurate state of the chain, and the Layer 1 network utilizes it to validate withdrawals.