|
Frax Share FXS |
|
|
$2.49 |
-6.81% (24h) |
|
|
Marketcap |
||
|
$223,935,744 |
||
|
Volume 24h |
||
|
$21,438,939 |
Description
Frax Share (FXS) is the governance token of the Frax Protocol, a decentralized stablecoin platform designed to offer a scalable, algorithmic stablecoin with a fully decentralized and decentralized fractional algorithmic mechanism.
Frax is unique because it operates with a two-token model, where FRAX is a stablecoin whose supply is partially backed by collateral and partially by an algorithmic mechanism that adjusts the supply of the stablecoin in response to market conditions.
Frax Share (FXS) holders can participate in the governance of the protocol, making decisions regarding the parameters of the system.
The protocol aims to provide a stable and scalable currency for DeFi applications while maintaining the flexibility of an algorithmic stablecoin system, addressing the limitations of traditional stablecoins.