Frax Share

What is FXS and how Does It Work?

Frax Share (FXS) associates with the governance and value accrual aspect of the Frax stablecoin protocol. It's a decentralized finance framework seeking to provide a decentralized alternative to traditional central bank-governed fiat currencies. An essential component of its design involves a Collateral Pool, containing a combination of decentralized and centralized digital currencies, along with additional assets. This particular Collateral Pool sets the stage for Frax's algorithmically managed stability and its targeted 1:1 peg with the US dollar, facilitated by a combination of on-chain and off-chain mechanisms. This encompasses collateralized crypto models and financial policy. When collateral is ensured in the pool, it enables the minting of Frax stablecoins. These adhere to ERC-20, making them transferrable and tradable similar to other tokens in this standardized token economy. This supports an assortment of DeFi applications. The Frax protocol - comprising smart contracts and oracle feeds - dictates the required collateralization ratios. As someone who holds Frax Share, there is an opportunity to propose and vote on protocol changes. The Frax stablecoin protocol also provides other opportunities for Frax Share holders to participate in. The project is led by developers Sam Kazemian, Travis Moore, and their team, focusing on open-source development, protocol compatibility with other decentralized finance platforms, and a fractional-algorithmic stablecoin exchangeable for different assets.

The Vision and Mission Behind FXS

FXS is the governance token of the Frax Finance protocol and contributes to the decentralization of stablecoin markets by integrating reliable and flexible tokens into one framework. FXS is a critical component of the dual-token system of Frax Finance, created to permit you to adjust parameters within the system. The Frax protocol operates as a fractional-algorithmic stablecoin system, signifying that FXS works conjointly with FRAX - the system's token that is modulated both algorithmically and by collateral factors. Its value is closely tied to demand and supply dynamics. Its value ratio is influenced by FXS token holders, further emphasizing its role in the dual-token mechanism of Frax Finance. Holding FXS tokens enables individuals to vote on proposed protocol adjustments and offers advantages derived from system allocations. FXS token holders can choose to stake their tokens, following the veFXS model, leading to a heightened participation in protocol leadership. Hence, FXS serves a unique purpose in the decentralized leadership and reliability of the Frax protocol.

How to Buy and Store FXS?

To purchase FXS, Flooz.xyz offers a streamlined process. Flooz.xyz is a one-stop solution where traders can buy FXS using a smooth checkout, without even needing to own a wallet. It's as simple as tap, tap, go! All payment methods are supported, ensuring convenience for every trader. Using Flooz self-custodial web wallet, you can seamlessly store, send, and receive FXS tokens. Creating a self-custodial wallet on Flooz is a breeze, requiring just your email, Google, or Apple ID. This not only provides a seamless and optimized trading experience but also grants you access to your funds at all times, thanks to the power of cryptography. Flooz.xyz goes the extra mile to ensure your security by aggregating more than 50+ providers, assuring the fastest and cheapest payment routes for your FXS trades. Join the community of over 85,000 active traders who have experienced the convenience and security of trading on Flooz.xyz.

FXS Metrics:

• Current price: $3.9039

• Market cap: $337.46 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $433.66 k