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Price
$4.07
9/29/2022, 10:11:35 AM
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Market

Market stats

Market cap

$65.8M

Volume (24h)

$5.3M

Circulating supply

16.2M FXS

All time high

$42.67

Price change (1h)

-0.23%

Price change (24h)

+1.18%

Price change (7d)

-7.98%

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Frax Share is on the decline this week.

The price of Frax Share has fallen by 7.98% in the past 7 days. The price increased by 1.18% in the last 24 hours. In just the past hour, the price shrunk by 0.23%. The current price is $4.065446 per FXS. Frax Share is 90.47% below the all time high of $42.673015.

The current circulating supply is 16,209,404.698 FXS.

About

What Is FRAX-SHARE (FXS)?

FRAX is the first stablecoin protocol that was developed on a fractional algorithm. The platform is a permissionless, open-source, and completely on-chain cryptocurrency developed on Ethereum and other blockchains. The FRAX protocol's ultimate purpose is to create a highly expandable, decentralized, algorithmic currency that substitutes fixed-supply digital assets such as BTC. The stablecoin (FRAX) derives from the "fractional-algorithmic" stability mechanism. 

According to the whitepaper, FRAX is the stablecoin with portions of its supply guaranteed by collateral and parts of its supply determined automatically. The platform is community-governed, emphasizing a fully automated, algorithmic approach that does not require active supervision.

The FRAX protocol is a two-token system that includes FRAX (FXS), a stablecoin, and FRAX Shares, a governance token (FXS). The Uniswap pair price and the ETH USD Chainlink oracle are used to determine the prices of FRAX, FXS, and collateral. Chainlink is a decentralized oracle network which connects blockchain-based smart contracts to real-time data. If FRAX is trading above $1, the protocol reduces the collateral ratio. If the price of FRAX falls below $1, the protocol raises the collateral ratio.

FXS is the standard token for the FRAX system. FXS is the governance tokens that generate fees, taxation revenue, and excess collateral value. The protocol is designed so that FXS supply can be primarily deflating as long as FRAX demand rises. Furthermore, when the valuation of FXS rises, the system's capacity to make FRAX stable rises as well. As a result, the demand for FRAX determines the FXS token's value. From the total tokens available, 60 percent of all FXS coins are allocated to different yield farms, liquidity rewards, exclusive and governance initiatives, with the balance shared among the staff and investors.

The FRAX redemption procedure is smooth, simple, and cost-effective. It is very straightforward during the 100 percent phase. During the fractional-algorithmic phase, when the FRAX is minted, FXS is burned, and when FRAX is redeemed, FXS is minted. Minting means creating and validating new information and recording it into the blockchain. Coin burning is a procedure of reducing coins or tokens from circulation. 

FRAX's long-term goal is to create the first crypto-native version of the CPI, known as the FRAX Price Index (FPI), managed by FXS holders. 

History of FRAX-SHARE (FXS)

The FRAX protocol was designed in late 2018, and the process started in early 2019. The maximum supply of FRAX is 100,000,000 FXS tokens. 

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FAQ

What is the current price of Frax Share?

The price of 1 Frax Share currently costs $4.07.

What is the market cap of Frax Share?

The current market cap of Frax Share is $65.84M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Frax Share?

The all-time high of Frax Share is $42.67. This all-time high is highest price paid for Frax Share since it was launched.

What is the 24 hour trading volume of Frax Share?

Over the last 24 hours, the trading volume of Frax Share is $5.27M.

What other assets are similar to Frax Share?

Assets that have a similar market cap to Frax Share include inSure DeFi, aelf, Aragon, and many others. To see a full list, see our comparable market cap assets.

How many Frax Share are there?

The current circulating supply of Frax Share is 16 million.

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