icon - Frax
+ 0.12%
$ 1.00191384
Volume 24h
Circulating supply
Change 24h
Graph (7d)
  • 105
    $ 1.00191384
    $ 650,899,073
    $ 17,412,372
    649,655,736 FRAX
    + 0.12%
What is the Frax Protocol?
The Frax Protocol is a stable coin system. Frax is open-source, permissionless, and entirely on-chain, and is currently implemented on Ethereum. The goal of the Frax protocol is to provide a highlyScalable,Decentralized,Algorithm money in place of fixed-supply digital assets.

Frax is a stable coin with parts of its supply backed by collateral and parts of its supply algorithmic. The market's pricing of the FRAX stablecoin affects the ratio of collateralized and algorithmic. The protocol decreases the ratio if FRAX is above $1.

Stable coins were divided into three different categories before Frax.
How many coins are in circulation?
Due to its fractional-algorithmic monetary policy, the supply of the FRAX stablecoin is always changing to keep the price at $1. The Frax Shares token supply is hard capped at 100 million and there is no inflation schedule in the protocol. The governance token accrues all value of new minted FRAX, fees, and excess collateral.
The Frax Protocol is a community driven stable coin. Over half of the supply of the currency is given to yield farmers. There is a governance onchain in the protocol.
Who is the originator of the Frax Protocol?

Frax has a founding team of engineers. Sam Kazemian came up with the idea when he noticed that stable coins did not have a mixture of monetary policy and collateralization. Projects that were solely based on monetary policy failed or shut down.

Where can I find FraX and FXS?
FRAX is available on many major exchanges and Defi platforms. Frax shares are also available in liquid form. Frax Shares are upside and governance rights to the world's first fractional-algorithmic stable coin.