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Market stats

Market cap


Volume (24h)


Circulating supply

75.4M FXS

All time high


Price change (1h)


Price change (24h)


Price change (7d)


About Frax Share

What is Frax Share?

Frax Share (FXS) is the governance token of the Frax Protocol, a unique stablecoin system that is both fractional and algorithmic. The Frax Protocol seeks to provide a scalable, decentralized, algorithmic currency as an alternative to fixed-supply digital assets. The system operates with two tokens: FRAX, the stablecoin that targets a tight band around $1 per coin, and Frax Shares (FXS), the governance token. FXS accrues fees, seigniorage revenue, and excess collateral value. The supply of FXS tokens is hard capped at 100 million tokens at genesis with no inflation schedule in the protocol. The Frax Protocol is community-driven and fully decentralized, with governance on-chain.

How does Frax Share work?

Frax Share (FXS) operates as the governance token within the Frax Protocol. It accrues value from newly minted FRAX, fees, and excess collateral. The Frax Protocol uses a unique fractional-algorithmic approach, with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic supply depends on the market's pricing of the FRAX stablecoin. If FRAX is trading above $1, the protocol decreases the collateral ratio, and if FRAX is trading under $1, the protocol increases the collateral ratio. This dynamic adjustment strives to keep the price of FRAX stable at around $1.

What are the potential use cases for Frax Share?

Frax Share (FXS) serves as a governance asset within the Frax Protocol. As a governance token, FXS holders can participate in the decision-making process of the protocol, influencing its future development and direction. Additionally, FXS accrues value from fees, seigniorage revenue, and excess collateral, potentially compensating holders. It's important to note that while FRAX is the currency token of the Frax Protocol, FXS is the token that represents ownership and governance rights within the protocol.

What is the history of Frax Share?

Frax Share (FXS) is part of the Frax Protocol, which was conceived by American software developer Sam Kazemian in 2019. Kazemian noticed that while stablecoins were growing rapidly, none had any mixture of algorithmic monetary policy and collateralization. Projects that had purely algorithmic monetary policy had failed or shut down without any significant traction. As a response, Kazemian devised the Frax Protocol as a solution to measure the market’s confidence in a partly algorithmic and partly collateralized stablecoin. The Frax Protocol, including Frax Share (FXS), launched in November 2020. It incorporated the fractional-algorithmic hybrid design at the time of its launch.

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Frax Share is on the rise this week.

The price of Frax Share has risen by 19.07% in the past 7 days. The price increased by 7.35% in the last 24 hours. In just the past hour, the price shrunk by 0.01%. The current price is $8.55 per FXS. Frax Share is 79.96% below the all time high of $42.67.

The current circulating supply is 75,360,598.16 FXS.


What is the current price of Frax Share?

We update our Frax Share to USD currency in real-time. Get the live price of Frax Share on Coinbase.

What is the market cap of Frax Share?

The current market cap of Frax Share is $644.42M. 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 $86.88M.

What other assets are similar to Frax Share?

Assets that have a similar market cap to Frax Share include Bitget Token, USDD, Gala V1, 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 75 million.

Can I buy Frax Share on Coinbase?

Yes, Frax Share is currently available on Coinbase wallet. For more detailed instructions, check out our helpful how to buy Frax Share guide.

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