Frax: Fractional-algorithmic stablecoin using USDC and FXS for stability.
Frax is a fractional-algorithmic stablecoin, partially backed by assets and stabilized by algorithms. It uses FRAX and FXS tokens for stability and governance.
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What is Frax (FRAX)?
Frax is a unique stablecoin that combines collateral backing with algorithmic mechanisms to maintain its value. Unlike purely algorithmic stablecoins, Frax is partially backed by assets like USDC, while its stability is also managed by smart contracts that adjust the supply based on price fluctuations. The Frax protocol utilizes two tokens: FRAX, which is pegged to the US dollar, and FXS, a governance token. Key features include minting and redeeming FRAX using USDC and FXS, with the ratio determined by the collateral ratio. Frax Finance also offers liquidity providing opportunities on Uniswap and long-term staking options. Future plans involve FRAX bonds and new collateral types, aiming to enhance FRAX's utility as a stablecoin. You can purchase FRAX on decentralized exchanges like Uniswa...
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Frax price live information
As of now, Frax is trading at 0.6478 USD, with a 24-hour trading volume of approximately 15.26K USD. The FRAX to USD price is updated in real time. Over the past 24 hours, Frax has decreased by 1.1%. It remains the top-ranked cryptocurrency on CMC.IO, with a market capitalization of about 207.19M USD. Currently, there are 319 836 477.618413 FRAX in circulation out of a maximum supply of 319 836 477.618413 FRAX.
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