Frax Share is a crypto money project developed to offer the first fractional-algorithmic stable coin by going beyond the classical content. Founded by Sam Kazemian, Frax Share has been on the Ethereum network since 2019.
Frax Share Project
Frax Share is a cryptocurrency project created using blockchain technology. This project allows users to mine cryptocurrencies and thus earn FRAX tokens through the Frax system. Also, the Frax Share project allows users to evaluate and invest their cryptocurrencies.
Many stablecoin protocols have adopted one design spectrum (fully collateralized) or the other extreme (fully algorithmic with no support). Collateralized stablecoins either have a custody risk or require over-collateralization on-chain. These designs provide a stablecoin with a fairly tight fixation with higher confidence than purely algorithmic designs. Purely algorithmic designs such as Basis, Empty Set Dollar, and Seigniorage Shares provide a highly reliable and scalable model that captures Bitcoin’s early vision of decentralized money but with useful stability. The problem with algorithmic designs is that they are difficult to boot, slow to grow (none gaining significant traction as of Q4 2020), and exhibit periods of extreme volatility that erodes confidence in their usefulness as true stablecoins. They are seen as a game/experiment rather than a serious alternative to secured stablecoins.
Frax strives to be the first stablecoin protocol that implements the design principles of both to create a highly scalable, unreliable, highly stable and ideologically pure on-chain currency. The Frax protocol is a two-token system that includes a stablecoin Frax (FRAX) and a governance token Frax Shares (FXS). The protocol also has a pool agreement with USDC collateral. Pools can be added or removed with governance.
What is FXS Coin?
FXS Coin is the native cryptocurrency of the Frax Share project. Before Frax, stablecoins were algorithmically defined in three different categories: price-collateralized, cryptocurrency-over-collateralized, and unsecured. FXS, on the other hand, describes itself as the first decentralized stablecoin type to classify itself as a fractional-algorithmic startup in the 4th and most unique category.
How Does FXS Coin Work?
Frax Share works using blockchain technology. This project allows users to mine cryptocurrencies and thus earn FRAX tokens through the Frax system. Frax Share uses the Proof-of-Stake (PoS) algorithm to enable users to mine cryptocurrencies. This algorithm allows users to mine by depositing a certain amount of FRAX tokens. The FRAX tokens they earn by mining allow users to evaluate and invest their cryptocurrencies.
Frax Share (FXS) is FRAX’s ERC-20 based governance token with the following use cases:
Governance:Grants owners management rights to add/edit coverage pools, set printing/redemption fees, and change the coverage rate rollover rate.
Stakes:Interest can be earned on tokens at various rates in preferred liquidity pools.
Mint system:Every time a user is Frax minted, the FXS token will be burned and the FXS token will be given back in return.
Reward mechanism:Users who deposit Uniswap LP tokens in incentivized pairs are rewarded with FXS tokens.
How and Where to Buy FXS Coin?
FXS Coin can be purchased through various cryptocurrency exchanges. To get FXS Coin, you must first register with the cryptocurrency exchange. After signing up, you may need to verify your account. You can then deposit Bitcoin (BTC), Ethereum (ETH) or other cryptocurrencies into your account using one of the payment methods offered by the cryptocurrency exchange. You can then buy FXS using your cryptocurrencies in your account.
Remember, because the prices of cryptocurrencies are very volatile, it is recommended to research the market and the coin before making a purchase. You should also make sure that the exchanges you buy from are reliable.
Frax Share Market Data
Frax Share market data is determined by taking into account trading transactions on exchanges and other factors. For example, the price of FXS Coin can be affected by supply and demand balances, news developments, market fluctuations and other economic factors. This data is obtained by collecting and analyzing it from various cryptocurrency exchanges and other sources.
How Much Is FXS Supply?
Crypto asset supply refers to the amount of a cryptocurrency available in the total figure. This supply is usually determined when it is first created and is limited for new assets to be created later. For example, the supply of Bitcoin is limited to 21 million units, so it is not possible to increase the supply. This limited supply determines the value of cryptocurrencies and affects prices according to supply and demand balances.
The circulating supply of FXS Coin is 73 million, while the total supply is 99822984.1145714.
How Much is FXS ATH?
ATH (All Time High) is the all-time high. The term generally refers to the highest level of the price of a cryptocurrency in the cryptocurrency market.
The FXS highest ATH level was recorded at $47 on January 12, 2022.
How Much is FXS ATL?
ATL (All Time Low) is an all-time low. The term generally refers to the lowest level of a cryptocurrency’s price in the cryptocurrency market.
The FXS lowest ATL level was recorded at $1.50 on June 25, 2021.
FXS Coin Price
The price of cryptocurrencies is determined by supply and demand balances. In particular, the supply of cryptocurrencies has a certain limit and it is determined when they are produced. Demand, on the other hand, can vary depending on how valuable investors, traders, and even regular users think that cryptocurrency is. For example, if the demand for a cryptocurrency is low while the supply is low, its price will rise. Also, there are many factors that can affect the price of cryptocurrencies; these can include market news, investor sentiment, legislative changes, regulations, technological developments and many more.
The current price of FXS Coin is as follows:
Frax Share (FXS)
Which Exchange Is FXS Coin On?
Cryptocurrency exchanges where FXS can be sold are:
- Binance
- Uniswap (V2)
- KuCoin
- Kraken
- SushiSwap
- Uniswap (V3)
- IDEX
- Gate.io
- bitget
- bitay
