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<p>Frax is a fractional-algorithmic stablecoin, it is the first cryptocurrency to be partially backed by asset collateral and partially stabilized by cryptographic algorithms. Algorithmic stablecoins reach a stable value and balance their circulating supply by being based on a different reserve asset.&nbsp;</p><p>The Frax protocol makes use of two different assets. These are the Frax (FRAX) stablecoin, which is pegged 1:1 to the US dollar, and the Frax (FRAX) token, which is used as a governance and utility token.</p><h3><strong>What are Frax’s key features and how does it work?</strong></h3><p>As an algorithmic stablecoin, Frax stablizes its price by deploying smart contracts that mint new tokens if the price increases, or buys them in the case that the price falls. Unlike many other stablecoins FRAX is partially collateralized to USDC.</p><p>Frax minting and redeeming is a core part of maintaining the cryptocurrency’s stable peg to USDC. FRAX can be minted by any individual who provides two tokens, these are USDC and FRAX. FRAX is the protocol’s “share token”, which is used to support the platform’s various functions.&nbsp;</p><p>The percentage proportions of each token are given by the Frax collateral ratio (CR). For example, if the collateral ratio is 50%, this means that 1 US dollar worth of FRAX can be minted by providing $0.50 worth of USDC and $0.50 worth of FRAX . In a similar fashion, the mechanism works in reverse when redeeming FRAX for USDC and FRAX provided at the start.</p><h3><strong>What is noteworthy about Frax?</strong></h3><p>Frax Finance differs to other stablecoins. Firstly, users can provide liquidity to several Uniswap pools, by doing so, a user can earn rewards in the form of the platform’s FRAX token.</p><p>Secondly, the platform facilitates long-term time-locked staking. This means that liquidity providers are able to lup up their LP tokens into the protocol for up to 3 years. A user earns rewards on the liquidity provided based upon the amount of time the asset is locked for and the collateral ratio.&nbsp;</p><h3><strong>What can Frax be used for?</strong></h3><p>Frax Finance is planning to launch features to increase the usability of FRAX. These include FRAX bonds, a vAMM, and new collateral types. At the moment, it remains a stablecoin that due to its dual-backed mechanism remains more “stable” than other alternatives.</p><h3><strong>Where can you buy FRAX?</strong></h3><p>FRAX can be bought from the major DEXs:</p><ul><li><p>Uniswap;</p></li><li><p>Sushiswap;</p></li><li><p>Pangolin.</p></li></ul>

<p>Frax is a fractional-algorithmic stablecoin, it is the first cryptocurrency to be partially backed by asset collateral and partially stabilized by cryptographic algorithms. Algorithmic stablecoins reach a stable value and balance their circulating supply by being based on a different reserve asset.&nbsp;</p><p>The Frax protocol makes use of two different assets. These are the Frax (FRAX) stablecoin, which is pegged 1:1 to the US dollar, and the Frax Shares (FXS) token, which is used as a governance and utility token.</p>

Legacy Frax Dollar

Frax is the first fractional-algorithmic stablecoin system.

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Comprehensive analysis of %coinname% price dynamics, quarterly returns, and annual trends in dollars. Our detailed research unveils dynamic interconnections between %coinname% and the US dollar, providing valuable insights based on current data.

Period	Change	Change (%)	High	Low
24H	-$ 0.001403	-0.14%	$ 0.9933	$ 0.9868
7D	$ 0.0001631	+0.02%	$ 1.00	$ 0.9811
14D	$ 0.00007735	+0.01%	$ 1.00	$ 0.9721
30D	-$ 0.0007567	-0.08%	$ 1.00	$ 0.9721
3M	$ 0.0009472	+0.10%	$ 1.00	$ 0.9721
6M	-$ 0.0008959	-0.09%	$ 1.00	$ 0.9721
YTD	$ 0.005396	+0.55%	$ 1.04	$ 0.9244
1Y	-$ 0.007379	-0.74%	$ 1.04	$ 0.8879
3Y	-$ 0.006878	-0.69%	$ 1.35	$ 0.8879

Legacy Frax DollarFRAX

Legacy Frax Dollar Analytics

Legacy Frax Dollar Closing Price (USD) - Quarterly

Legacy Frax Dollar Monthly Returns (USD)

FRAX - USD Price Change

Legacy Frax Dollar Annual Price (USD) Change