What is FRAX (FXS)?
FRAX (FXS) - a stable cryptocurrency because its value is linked to the value of a basket of assets including the US dollar.
- The currency was created to address the volatility issues associated with other cryptocurrencies such as Bitcoin and Ethereum.
- The goal is for the value of FRAX to remain as close to US$1 as possible.
- FRAX is based on blockchain technology and uses a decentralized governance mechanism to ensure stability and transparency in the network.
Key Metrics of FRAX (FXS)
Cap de Mercado
What is FRAX (FXS)?
FRAX (FXS) is a decentralized and stable cryptocurrency that was launched in 2020. The coin was created to address the volatility issues associated with other cryptocurrencies such as Bitcoin and Ethereum, which can experience large price fluctuations over short periods of time.
The history of FRAX (FXS) dates back to 2019, when the Frax Finance team began working on the project. The goal was to create a stable cryptocurrency that could maintain its value over the long term and be used in the real world.
The FRAX (FXS) Finance team created a system in which FRAX is backed by a basket of assets that includes the US dollar, Ethereum and other assets. The value of FRAX is kept stable by a token issuance and burning system that automatically adjusts based on market supply and demand.
In December 2020, Frax Finance officially launched FRAX on the Ethereum network. Since then, the coin has gained popularity and has been listed on several cryptocurrency exchanges, including Binance, Uniswap and KuCoin.
In March 2021, Frax Finance also launched the FXS complementary token, which is used as a governance token on the FRAX network. FXS holders can participate in network governance and vote on proposals to change the protocol.
Since its launch, FRAX (FXS) has gained a large following and has been backed by a number of investors and companies in the cryptocurrency world. The Frax Finance team has continued to develop and improve the platform, and has announced plans to expand to other blockchain networks in the future.
FRAX (FXS): What makes it different and why invest?
FRAX (FXS) is a stable cryptocurrency because its value is linked to the value of a basket of assets including the U.S. dollar, Ethereum and other assets. The goal is for the value of FRAX to remain as close to US$1 as possible, meaning it should not experience the price fluctuations seen in other cryptocurrencies.
FRAX (FXS) is based on blockchain technology and uses a decentralized governance mechanism to ensure stability and transparency in the network. FXS holders can participate in the governance of the network and vote on proposals to change the protocol.
In addition to being a stable cryptocurrency, FRAX also aims to be a platform for the creation of decentralized applications (dApps). The platform is designed to be interoperable with other blockchain networks and allow the exchange of assets between different networks.
FRAX Community and Social Channels (FXS)
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