FXS/USD (-0.6%)
Frax Share coin powers the Frax Protocol, which is the first fractional algorithmic stable coin system. It currently uses the Ethereum and Binance Smart Chain blockchains, but it is implementing cross chains. Frax Share coin is the governance coin of the protocol and is commonly purchased as an investment. Unlike Frax, this one doesn’t work as a stable coin, so its price can go up or down.
A Bit About Frax Share
This cryptocurrency was developed in 2019 by Sam Kazemian, an American software developer. The main purpose of the token is to help maintain the value of Frax at $1. It is used on the Frax Protocol, a network that aims at providing scalable, decentralized, and algorithmic money.
Frax is the world’s first fractional-algorithmic stablecoin.CryptoLists.com
This cryptocurrency is minted virtually at almost no cost, but it gains value over time through seigniorage. This is the difference between producing a unit of the FRAX stable coin and the cost of minting the FXS tokens required to back its share of the collateral ratio. The token also gains value as the market cap of Frax increases. Holders of the token can use their governance privileges to adjust the rules of the current collateral pools and can even vote to add new asset types to the protocol. They can also vote to add new pools. Another thing they can do is change the bonus fee that is paid to incentivize arbitrageurs to bring the price of FRAX back to $1.
Utility of Frax Share?
On the Frax Protocol, this cryptocurrency is used for governance actions surrounding the protocol. The token is also used for staking and can earn you interest. In order to stake your cryptocurrencies, you will need to use the MetaMask extension. You can choose between locked and unlocked staking, and the APR will be higher for locked staking.
Frax Share Price details
ERC20 Contract address: 0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0
›› Details & Tokenomics
›› FXS tokenomics and social media
Advantages of Frax Share
+ It supports an innovative stable coin.+ You can stake it to earn interest.
+ The coin has a complete whitepaper.
+ It is highly liquid and is available on lots of exchanges.
+ Holding FXS gives you governance rights.
Disadvantages
- Lots of people are uncertain about the Frax stable coin.- The transfer costs can be very high.
- There is a lot of competition in the crypto sector.
- FXS don't have infinite supply like Luna.
- It doesn’t have to follow government regulations.
Costs
▪ Rated at 9/10The transfer costs when using this cryptocurrency average at around $20, but they can be higher or lower depending on the congestion of the network. Because the Ethereum blockchain serves many tokens and DeFi platforms, it usually experiences high levels of congestion, and this can drive up the transfer costs. As we’ve mentioned, the coin is likely to become cross chain in the future, and this can help to lower the cost of transfers.
Reputation and Buzz
▪ Reputation rated at 8/10▪ Buzz rated at 9/10
Frax Share coin has a rank of 195 on Coin Market Cap, and its market cap is a little over $100 million. Although the coin isn’t ranked very highly, lots of people are interested in the project. This is especially because it involves a unique stable coin that maintains its peg with both collateral and supply algorithm. You can follow discussions on Frax Share on Twitter and Reddit. On Twitter, the Frax Finance account has gained about 50,000 followers.
FAQ
What is the difference between Frax Share vs Terra LUNA?
Frax Share is backed partially by collateral and partially by an algorithm. On the other hand, Terra (LUNA) was only backed by an algorithm. Both of these stable coins were targeting a value of $1 at all times.
Which blockchains support FXS?
This cryptocurrency uses Ethereum and Binance Smart Chain, but it is set to increase the blockchains over time.
What is Frax?
This is a fractional-algorithmic stablecoin that is backed by both collateral and an algorithm. It tracks the price of the US dollar and is meant to maintain a price of $1.
Where can you buy FXS coin?
You can get this cryptocurrency from many centralized and decentralized crypto exchanges. These include Binance Exchange, BKEX, Bitget, and DigiFinex.
Screenshots from Frax Share
More sites where to buy/sell/trade Frax Share
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Frax Share details and tokenomics
FTM Contract address: 0x82f8cb20c14f134fe6ebf7ac3b903b2117aafa62
SOL Contract address: 6LX8BhMQ4Sy2otmAWj7Y5sKd9YTVVUgfMsBzT6B9W7ct
