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24h Spot Volume$ 38.41B+7.81%
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Frax Finance

Frax Finance FXS Price $ 3.44

Rank: 214

1356 Watchlists

DeFi

FXS Price

3.44
3.33%
($ 0.111)
Price Range
LowHigh
$ 3.32$ 3.58

General Info

Contracts/Explorers:

Explorers

Tags (Sub-Categories):

#Token

Funds and Backers

Description

Frax Finance is a DeFi stablecoin infrastructure on Ethereum Virtual Machine.

Frax Finance (FXS) Chart

Frax Finance price Index provides the latest FXS price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

FXS to USD Converter

Frax Finance (FXS)FXS

FXS Price Statistics

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Market Cap

$ 275.88M

Fully diluted value

FDV

$ 343.25M

ATH Market Cap

$ 2.49B

24 Trade Vol.

$ 12.94M


Vol. (24h) / MCap

0.0469

Max Supply

FXS 99,681,753

Total Supply

FXS 99,681,496

Circulating Supply

FXS 80.12M

(80.4% of Max Supply)

Listing Date

27 Dec 2020

All Time High

$ 43.14

3 Apr 2022


All Time Low

$ 1.52

25 Jun 2021


From ATH

92%

From ATL

127.3%

What is Frax Finance (FXS)?

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 Price Today

Frax Finance's current price is $ 3.44, it has increased +3.33% over the past 24 hours.

Frax Finance's All Time High (ATH) of $ 43.14 was reached on 3 Apr 2022, and is currently -92% down.

The current circulating supply of Frax Finance is 80.12 Million tokens, and the maximum supply of Frax Finance is 99.68 Million.

Frax Finance’s 24 hour trading volume is $ 12.94 Million.

Frax Finance's current share of the entire cryptocurrency market is 0.01%, with a market capitalization of $ 275.88 Million.

You can find more details about Frax Finance on its official website and on the block explorer.

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