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What is Frax Price Index (FPI)?

The Frax Price Index is a novel and distinctive protocol within the Frax ecosystem. It revolves around its native stablecoin (FPI) and governance token (FPIS). The system adjusts monthly based on data from an on-chain Consumer Price Index oracle, ensuring that FPI holders see their dollar value grow each month in response to inflation. This is achieved by earning yields from the FPI treasury, which is generated through user minting and redeeming of FPI with FRAX. The Frax Price Index has two main objectives: to maintain the peg of the FPI (tracking inflation) and to enhance the value of the FXS (Frax Share) token.

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