Frax Finance
FXS

$1.9600

-3.05%
  • Market Cap
    $161,865,627.374
  • 24 Hour Trading Vol
    $7,728,237.932
  • Fully Diluted Valuation
    $195,378,397.049
  • Circulating Supply
    82,675,254
  • Total Supply
    99,681,496
  • Max Supply
    99,681,496
Frax Finance
Frax Share is the governance token which accrues fees, seigniorage revenue, and excess collateral value.
Socials
Category
DeFi
Frax Finance Converter
FXS
1 FXS = $1.9600
FXS Statistics
  • Frax Finance Price
    $1.9600
  • Trading Volume
    $7,728,237.932
  • Market Cap
    $161,865,627.374
Frax Finance Price Chart (FXS)

Loading...

24h
7d
30d
3M
1Y
YTD
-3.05%
-1.09%
+4.84%
-17.68%
-63.16%
-77.19%
About Frax Finance

The Frax protocol is a system with two tokens, the Frax stablecoin (FRAX) and the Frax Shares management token (FXS). FRAX is a stablecoin with a fractional algorithm, partially secured by collateral and partially stabilized by algorithms. Two FRAX tokens are stablecoin focused on a fixed price policy. Frax Shares (FXS) is a governance token for which commissions, seigniorage income and excess collateral value are accrued.

The Frax protocol is a project of American software developer Sam Kazemian, who first came up with the idea of a stablecoin with a fractional algorithm in 2019. The Frax development team includes Travis Moore and Jason Huang.

The market price of the FRAX stablecoin determines the ratio of collateral and algorithmic processing. If FRAX trades at a price above $1, the protocol reduces the collateral ratio. If FRAX trades at a price of less than $1, the protocol increases the collateral ratio.

How Frax Share works

FXS is an ERC-20 FRAX management token with the following use cases:

Management: provides holders with management rights to add/adjust collateral pools, set commissions for minting/repayment and change the frequency of updating the collateral ratio.Bets: Place bets in various pools to earn interest from your preferred APY.Chasing & Redeeming: FXS will be burned when FRAX is minted and minted when FRAX is redeemed.Rewards: FXS rewards will be claimed by users who deposit Uniswap LP tokens into stimulated pairs.

At the time of creation, FRAX is 100% secured by collateral, which means that for the production of FRAX, only a deposit is required in the mining contract. During the fractional phase, FRAX coinage requires the placement of an appropriate collateral ratio and the burning of the FXS ratio.

Frax Share mining

FRAX stablecoins can be mined by placing an appropriate number of its constituent parts in the system. When it is created, FRAX is 100% secured by collateral, which means that for the production of FRAX, just a deposit is required in the mining contract. During the fractional phase, FRAX mining requires the placement of an appropriate collateral ratio and the burning of the Frax Shares ratio (FXS). Although the protocol is designed to accept any type of cryptocurrency as collateral, this implementation of the Frax protocol will generally accept stablecoins. This is in order to even out the volatility of the collateral so that FRAX can smoothly transition to more algorithmic coefficients. As the speed of the system increases, it becomes easier and safer to include volatile cryptocurrencies such as ETH and wrapped BTC in future managed pools.

How to buy Frax Share

FRAX, a stablecoin, is available on many major exchanges and DeFi platforms, such as Uniswap and DEX. Frax Shares (FXS) tokens are also available and are as liquid as stablecoins. Investors who want to acquire the growth potential and the rights to manage the world's first stablecoin with a fractional algorithm should buy Frax Shares (FXS). Users who want stability by using the world's only stable coin with a fractional algorithm should purchase FRAX.

FXS has been registered on a number of cryptocurrency exchanges. Frax Share can be purchased on decentralized exchanges only for another cryptocurrency. To buy Free Share, you first need to purchase Ethereum (ETH), Bitcoin (BTC) and BUSD FXS Coin, where FXS is traded and then use them to buy Frax Share. This will require a so-called self-storage wallet. Often such operations are carried out through Binance — the world's largest cryptocurrency trading platform. Often such transactions are conducted through Binance, the world's largest cryptocurrency trading platform.

Frax Finance Markets
ExchangePairLast PriceChange (24H)High (24h)Low (24h)SpreadVolume (24h)

Rows per page:

0–0 of 0

Popular Cryptocurrencies
Growth Leader (24 hours)
..
dYdX (Native)
+1.81%
$0.901
Leader in trading volume (24 hours)
..
Bitcoin
$8.1B

© Token Radar 2024. All Rights Reserved.
IMPORTANT DISCLAIMER: All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.