Frax Share (FXS) Price

FXS is a cryptocurrency based on the Frax Protocol, which is the world’s first fractional algorithmic stablecoin ecosystem. It seeks to provide users with ways to access scalable, algorithmic, decentralized money that could replace cryptocurrencies like BTC. “Fractional algorithmic” means that both collateral and algorithms back it. The ratio of the supply backed by either method depends on the asset’s price. The project is fully permissionless and open source and exists entirely on-chain. Frax uses a dual-token system, with FRAX the stablecoin and FXS the utility token.