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Frax Share (ERC-20) (FXS)FXS
$4.1678
2.32%
Frax Share (ERC-20) (FXS)
FXS Price
$4.1678
2.32%
Rank
#126
Market Cap (24H)
$279.34M
1.74%
Volume (24H)
$12.92M
67.20%
Circulating Supply
67,023,038
Transp. Vol.
Grade
1H1D1W1M1Y
+2.32%
Frax Share (ERC-20) logo
FXS
United States Dollar logo
USD
ETH0x3432b...9c964d0
ETH
Verify address & DYOR
Contract
ETH0x3432b...9c964d0
ETH
Verify address w/ multiple resources & DYOR
Blockchain
Websitehttps://frax.finance
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The Frax Share token (FXS) is an ERC20 token based on the Frax protocol, which offers an innovative stability mechanism ...Read more
Prediction

Frax Share (ERC-20) Price (FXS)

FXS Daily Performance

Today's Frax Share (ERC-20) price is $4.1678, which is up 2% over the last 24 hours. Frax Share (ERC-20)'s market cap is $279.34M. 24 hour FXS volume is $12.92M. It has a market cap rank of 126 with a circulating supply of 67,023,038 and max supply of 99,822,984. Frax Share (ERC-20) is traded on exchanges. Frax Share (ERC-20) had an all-time high of $41.30 9 months ago. Over the last day, Frax Share (ERC-20) has had 0% transparent volume and has been trading on 85 active markets with its highest volume trading pairs being .

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Frax Share (ERC-20) Statistics

Frax Share (ERC-20) Price (24hr)$4.1678 (+2.32%)
Market Cap$279.34M (+1.74%)
Trading Volume (24hr)$12.92M (+67.20%)
Transparent Vol. (24hr)
Unknown
Transparency GradeUnknown
Circulating Supply67,023,038 (67.14%)
All-Time High
$41.30-89.91%
1/12/2022 (9 months ago)
7D Price Prediction
$4.2742

Price

$4.1678
Price Change
$0.09468 (2.32%)

All-Time High

$41.30
Date of ATH1/12/2022
Days Since ATH261
% of ATH10.09%
Price vs ATH

Market Cap

$279.34M
Mkt Cap Change
$4.78M$4,777,945 (1.74%)
Mkt Cap Rank126
Mkt Dominance
Mkt Dominance

Circulating Supply

67,023,038
Max Supply99,822,984
% in Circulation67.14%
% in Circulation

About Frax Share (ERC-20)

The Frax Share token (FXS) is an ERC20 token based on the Frax protocol, which offers an innovative stability mechanism underlying a new design of the algorithmic stablecoin. Launched in December 2020, the asset represents a utility token released by the Frax Finance platform and unlike the other token FRAX, it is meant to be unstable. In addition to the utility functions, FXS also provides governance rights to its holders.

The Frax platform

Frax is an innovative platform that implements the concept of a fractional-algorithmic stablecoin, which is partially supported by the collateral and partially stabilized by the specific algorithm. The system uses a multi-chain Frax protocol with a bridging system which allows it to maintain a tight peg for its assets across all networks.

The founders of the platform stick to a governance-minimized approach and implement the trustless money design similar to Bitcoin. In their opinion, it is easier to avoid disagreement when the members of the platform don’t have to decide on numerous parameters of the system. Thus, keeping away from active management, they only have to decide upon such parameters as fees for minting and redeeming, addition, and adjustment of collateral pools. The community also decides upon the rate of the collateral ratio, but it doesn't participate in active management of collateral or the addition of human-modifiable parameters to the system. The only exception is a hard fork that presupposes a full shift to the implementation of a new protocol. The higher is the number of algorithmically generated FRAX, the more FXS are issued enabling the members of the community to obtain higher rewards.

In May 2020, the members of the community received the possibility to lock FXS and get veFXS instead. The new tokens enable users to earn special boosts that provide governance rights. The farmers can lock FXS for up to three years. Additionally, they get AMO (Algorithmic Market Operations) profits. The developers of the system also intend to introduce an optional anonymity feature using the zk-SNARKs technology for the members of the community who mint FRAX.

The Frax platform employs a deflationary economic model. Excess collateral is used to buy back and burn FXS. The platform uses on-chain Uniswap and Chainlink oracles in its work.

The development of Frax Price Index (FPI)

The platform tries to build the first “crypto native version” of the Frax Price Index (FPI) governed by the members of the community. FPI is an algorithmic stablecoin that is entirely a new unit of account, designed to be resistant to inflation. It is going to be pegged to a decentralized consumer price index (CPI) with cryptocurrency native elements built on top of a custom CPI oracle made specifically for FRAX. Frax Finance has expanded its integration with the Chainlink network to perform this task. The integration is implemented on Ethereum and involves Chainlink Any API functionality for the creation of a decentralized, on-chain contract storing most of the latest US Government CPI data.

Using Chainlink Data Feed, FPI manages an inflation-pegged stablecoin that is connected to consumer price data. The goal of the platform’s team is not only to create the first fully decentralized and permissionless unit of account with a higher level of resistance to inflation than the US dollar. It should also have a stable price linked to a basket of goods. Frax Finance and Chainlink announced the 200K USD award to encourage other developers to achieve their vision. With joint efforts, they hope to build a more censorship-resistant global inflation dashboard on the basis of the Chainlink oracle technology. The award was co-sponsored by Chainlink and angel investor Balaji Srinivasan, a former Andreessen Horowitz general partner.

Frax security

Frax Finance employs high-end security research companies to implement the best security practices in its works. In November 2020, the platform was successfully audited by the leading auditing company Certik.

Trail of Bits security audit that was conducted in July 2021 also hasn’t found any critical flaws in the code. The famous auditing company only issued some recommendations on the internal security and improvement of code that were later implemented by the Frax team.

Frax Share token

Frax Share is used for governance, staking, minting, and redeeming, and rewards claimable for users depositing Uniswap LP tokens to incentivized pairs. FXS is a deflationary type of asset, the supply of which is connected with the FRAX demand. With the increase of the market cap of Frax Share, the capability of the system to keep FRAX stable also increases. Thus, the goal of developers is to attain a higher value of the FXS while keeping FRAX stable.

The initial supply of FXS is 100 million tokens while its market cap is calculated with regard to numerous parameters. It depends on the seigniorage of the FRAX token, the utilization of unused collateral, the cash flow from fees, etc.

Right after the release, the token was listed on the Hotbit and Gate.io exchanges. Binance listing followed in February 2021. Now the asset is available on numerous centralized and decentralized platforms such as Kucoin, BKEX, HitBTC, Uniswap, Sushiswap, etc.

Frax team

The founder of the Frax Finance platform is Sam Kazemian, an American developer who came up with the idea of the algorithmic FRAX protocol in 2019. He co-founded the platform together with Jason Huan, Bachelor in Computer Science, and Travis Moore, Bachelor in Neuroscience, Biochemistry, Cell/Cellular, and Molecular Biology, who supported the concept and participated in the development of a new stablecoin design.

Before he joined the Frax team, Jason Huan, was one of the founders of a blockchain community at UCLA (University of California, Los Angeles) in 2017, while Travis Moore was interested in cryptocurrencies as an entrepreneur and investor. Since Travis is also a programmer, he became CTO of the Frax Finance platform. It is also worth mentioning that he is a former economic advisor of Donald Trump.

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Frax Share (ERC-20) Markets

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Frax Share (ERC-20) Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current Frax Share (ERC-20) price? How much is 1 Frax Share (ERC-20) worth?

    The price of 1 Frax Share (ERC-20) is $4.1678. Over the last 24 hours, a Frax Share (ERC-20) is worth 2.32% more. Visit our currency converter page to convert FXS prices to currencies other than USD.
  • When did Frax Share (ERC-20) start?

    The earliest trading data for Frax Share (ERC-20) is on April of 2020 (based on current exchange data).
  • How high can the Frax Share (ERC-20) price go?

    Frax Share (ERC-20)’s price has gone as high as $41.30 (which is FXS’s all-time high). It achieved this price 9 months ago. Speculations abound for how high Frax Share (ERC-20)’s price will get in the future.
  • What's the smart contract address for Frax Share (ERC-20)?

    Frax Share (ERC-20)'s smart contract address is 0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0.

Today's FXS / Frax Share (ERC-20) News for September 30, 2022

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