FXS(Frax Share)
Issue Time
2020-12-21
Total Supply
99,822,984 FXS
Circulation
73,513,637 FXS
White paper
https://docs.frax.finance/overview
Website
https://frax.finance/
Twitter
https://twitter.com/fraxfinance
Telegram
https://t.me/fraxfinance
Discord
https://discord.gg/MTZu6Hf57d
Block Explorer
https://cn.etherscan.com/token/0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0 https://bscscan.com/token/0xe48A3d7d0Bc88d552f730B62c006bC925eadB9eE https://ftmscan.com/token/0x7d016eec9c25232b01f23ef992d98ca97fc2af5a https://arbiscan.io/token/0x9d2f299715d94d8a7e6f5eaa8e654e8c74a988a7 https://polygonscan.com/token/0x1a3acf6d19267e2d3e7f898f42803e90c9219062 https://snowtrace.io/token/0x214db107654ff987ad859f34125307783fc8e387 https://moonriver.moonscan.io/token/0x6f1d1ee50846fcbc3de91723e61cb68cfa6d0e98
Frax protocol was the first fractional algorithm stablecoin system. Frax is open source, permissionless, and entirely on-chain -- currently implemented on Ethereum (and potentially cross-chain in the future). The ultimate goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic currency to replace fixed-supply digital assets like BTC. The protocol contains the following concepts:
Fractional algorithm -- Frax is a unique stablecoin whose partial supply is supported by collateral and partial supply algorithms. The ratio of collateral to the algorithm depends on the market pricing of FRAX stablecoins. If FRAX trades above $1, the agreement will lower the collateral ratio. If FRAX trades below $1, the agreement increases the collateral ratio.
Decentralization and governance minimization -- Community governance and an algorithmic approach that emphasizes a high degree of autonomy, without active management.
Full on-chain predictor - Frax V1 uses Uniswap (ETH, USDT, USDC time weighted average price) and Chainlink (US dollar price) predictor.
Two tokens -- FRAX is a stablecoin that targets a narrow band around the $1 / coin. Frax Shares (FXS) are governance tokens that generate fees, seigniorage income, and excess collateral values.
Prior to Frax, staboins were divided into three categories: fiat collateral, cryptocurrency overcollateral, and unsecured algorithms. Frax, the first decentralized staboin to classify itself as a fractional algorithm, enters the fourth and most unique category.
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