About Frax Share (FXS)
Frax (FRAX) is a fractional algorithmic stablecoin partially backed by collateral and partially stabilized algorithmically. The ratio of collateralization and algorithmic depends on the market price of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateralization ratio. If FRAX is trading at under $1, the protocol increases the collateralization ratio.
Frax Share (FXS) is the non-stable, ERC-20 governance token of FRAX with the following use cases:
- Governance: Grants holders governance rights to add/adjust collateral pools, set minting/redemption fees, and to change the refresh rate of the collateralization ratio.
- Staking: Stake in various pools to earn interest with preferred APY.
- Minting & Redeeming: FXS will be burned when minting FRAX and minted when redeeming FRAX.
- Rewards: FXS rewards will be claimable for users who deposit Uniswap LP tokens to incentivized pairs.
FXS Market Information
FXS Price：$ 10.271
FXS Circulating Supply：73,801,151 FXS
FXS Max Supply：--
FXS Total Supply：99,822,984 FXS
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Toobit does not take responsibility for any resulting direct or indirect losses.
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