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Frax Share(FXS)

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$9.1583
(-0.16%)
0.00014743 BTC
Market Cap (Rank#124)
$705,409,778
11,355 BTC
Vol 24h
$14,073,137
226.544 BTC
Circulating Supply
77,023,692.38
Max Supply
?
140 days agocoindesk
Frax Finance's Fed Yield-Matching Staking Vault Attracts $30M, FXS Steady
Early Thursday, Frax unveiled sFRAX staking vault, allowing users to take advantage of higher interest rates in the U.S.
242 days agocryptopotato
Bitcoin Taps $31K on BlackRock’s ETF Refiling, Aptos Jumps 10%: Market Watch
Aside from APT, the other notable price gainers include MKR, FXS, and LEO.
259 days agocryptodaily
Frax Finance Unveils Plans For Its Ethereum L2
Frax Finance, creators of one of the most innovative decentralized stablecoins and DeFi-focused stablecoin infrastructure, has unveiled its plans to roll out an Ethereum Layer 2 blockchain, aptly named Fraxchain. The objective is simple but ambitious: to cultivate a smart contract platform with an unwavering focus on decentralized finance. Frax Protocol: A Trio of Stablecoins and Integrated Subprotocols The Frax Protocol represents a pioneering development in the crypto world. At its core, it issues three distinct decentralized stablecoins: FRAX, a USD pegged asset; the Frax Price Index (FPI) stablecoin, which uniquely ties its value to a basket of consumer goods, creating a new unit of account independent of national currencies; and FraxEther (frxETH), a stablecoin pegged to ETH, designed to replace WETH in smart contracts. Complementing these stablecoins, the protocol also houses three subprotocols: Fraxlend, Fraxswap, and Fraxferry. Fraxswap, the first Automated Market Maker (AMM) using time-weighted average market maker orders, helps in rebalancing collateral, minting/redemptions, adjusting stablecoin supply, and deploying protocol-owned liquidity on-chain. Fraxlend creates a lending market for Frax-based stablecoins, allowing the origination of debt, bespoke non-custodial loans, and the incorporation of collateral assets into the Frax Finance economy. Lastly, Fraxferry enables the transfer of Frax Protocol tokens across multiple blockchains. Frax Share (FXS) serves as the primary governance token across the Frax ecosystem, accruing fees, revenue, and excess collateral value. An additional governance token, FPIS, is specific to the FPI and shares its value capture with FXS holders. A Gauge Rewards System allows the community to propose rewards for strategies that integrate Frax-based stablecoins. The fixed, halving annual FXS emissions flow to different gauges based on veFXS staker votes. Frax Finance Sets Sights on Layer 2 with Fraxchain Fraxchain, a project by the makers of the Frax stablecoin, is set to strengthen the hold of decentralized finance in the blockchain landscape. “Fraxchain marks the zenith of the entire Frax ecosystem and mirrors the traction and usage we’ve attained,” Frax founder Sam Kazemian explains. A Glimpse into the Fraxchain Framework The slated release date for this network is by the end of this calendar year. The network's governance will hinge on the holders of Frax Shares (FXS) tokens. The modus operandi of the network includes leveraging the Frax stablecoin and Frax Ether, the project's liquid staking derivative, for transaction fees. What's more, the fees garnered by the roll-up network could partially be burned or funneled back to the Ethereum mainnet, to be dispersed among stakers of the FXS governance token, Kazemian outlined. Fraxchain hinges on a Layer 2 rollup model. In this arrangement, it will publish state roots to the Ethereum mainnet for securing the network. The rollup network will also incorporate decentralized sequencers—these nodes order transactions into batches in a rollup network. Any entity can operate them, as long as they secure the nod via a governance vote. Kazemian further elaborated on this feature: “Fraxchain proposes a solution where sequencer roles can be auctioned off and rotated, creating a decentralized sequencer base. If a sequencer is forced to shut down, Fraxchain would allow the next elected sequencer to pick up from where the previous one left off,” he explained. Fraxchain: By the Numbers As per the numbers, Frax's ecosystem has made a significant mark on the world of crypto. As of this writing, the total supply of Frax stands at over $1.23 billion, while Frax Shares (FXS) have a market cap exceeding $371 million. The Frax stablecoin is listed on major exchanges and is integrated into numerous DeFi platforms, while FXS token is used for governance decisions, further cementing its position in the decentralized finance space. The launch of Fraxchain encapsulates the pivotal move of Frax Finance to fortify its position in the DeFi world. It will be interesting to monitor the progress of this Layer 2 solution, with an eye on the continued growth and traction of the Frax ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
291 day agocryptodaily
Frax Share (FXS) and IOTA Plummet As Holders Look to Tradecurve’s (TCRV) Presale for Reconciliation
As the cryptocurrency market undergoes rapid shifts, Frax Share (FXS) faced a 6% drop, while IOTA (MIOTA) holders have been turning their attention to the promising Tradecurve presale. With its innovative trading platform and real world utilization experts predict Tradecurve will see 40x gains once it’s presale has completed . This in-depth analysis will explore the latest developments and market trends for each project, with a particular focus on the burgeoning interest in Tradecurve as the next big investment opportunity. Frax Share (FXS) Frax Share (FXS), an innovative stablecoin project, has recently experienced a 6% decline in its value. While the Frax Share's (FXS) algorithmic model has been praised for its unique approach to maintaining stability, it appears that recent market trends have shifted investor interest towards more lucrative options like Tradecurve. Frax Share's (FXS) current challenges can be traced back to a few factors to Increased Competition. The stablecoin market has become increasingly saturated, making it difficult for Frax Share (FXS) to maintain its unique selling points. As new and innovative projects like Tradecurve enter the scene, FXS faces an uphill battle to stay relevant. Unlike Tradecurve, which offers a diverse range of high-yield investment options, Frax Share (FXS) provides limited opportunities for investors to maximize their returns. This lack of diverse investment choices may be driving Frax Share (FXS) holders to explore more dynamic projects like TCRV. IOTA (MIOTA) IOTA (MIOTA), known for its innovative Tangle technology that eliminates the need for a blockchain, has been facing its share of difficulties in the market. While the project has been working tirelessly to expand its use cases and forge industry partnerships, it seems to be struggling to keep pace with emerging competitors like Tradecurve. The reasons behind IOTA (MIOTA) holders shifting their investments is the possibility of 100x gain prediction, IOTA (MIOTA) investors may be looking to capitalize on these potential returns instead. Despite IOTA's unique technology, the project has not experienced the widespread adoption it had initially anticipated. The lack of mainstream adoption may be driving MIOTA holders to seek out projects with faster growth trajectories, like TCRV. Tradecurve Presale Continues Gaining Massive Momentum Tradecurve has captured the attention of the crypto community due to its groundbreaking decentralized finance platform, which is poised to disrupt the digital finance landscape. The platform is built on a foundation of advanced yield farming strategies, secure staking options, and an impressive tokenomics model, all designed to drive significant value for its holders. The growing interest in Tradecurve can be attributed to enhanced User Experience. The platform has prioritized traders by implementing an intuitive interface and seamless navigation. This approach ensures that both novice and experienced investors can take full advantage of the platform's features without any difficulties. Beyond that, there are also lucrative earning opportunities with a diverse array of high-yield investment options on Tradecurve which sets it apart from other DeFi projects. The native token of the platform is called $TCRV, and this token serves as a utility and a governance token on the platform. Tradecurve’s native utility token $TCRV has also been audited by Cyber Scope, whilst a team KYC was carried out by AssureDeFi further providing security and transparency to investors. Currently in its presale stage $TCRV is trading at $0.01, analysts predict that Tradecurve will surge 40x-50x once the token launches, providing investors and traders with a unique opportunity to generate fast profits from a transparent crypto project. Find out more about the Tradecurve (TCRV) presale here: Website: https://www.tradecurve.io/ Presale: https://app.tradecurve.io/sign-up Twitter: https://twitter.com/Tradecurveapp Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
303 days agonulltx
Frax Share (FXS) and GMX (GMX) Resume Bearish Decline as Sparklo (SPRK) Readies for Uptrend
Frax Share (FRX) and GMX (GMX) offer investors little chance at a price swing, as the tokens are expected to continue their downtrends. This has heightened interest in the Sparklo presale, which offers uptrend price movement. Sparklo (SPRK): What is all the Fuss? The fuss around Sparklo stems from its unique fundamentals, which involve investing […]
328 days agocryptopotato
ETH Liquid Staking Tokens Drop 8% Daily, Bitcoin Stalls at $28K: Weekend Watch
Lido DAO and Frax Share are the two poorest performers today.

About Frax Share?

The live price of Frax Share (FXS) today is 9.1583 USD, and with the current circulating supply of Frax Share at 77,023,692.38 FXS, its market capitalization stands at 705,409,778 USD. In the last 24 hours FXS price has moved ? USD or 0.00% while ? USD worth of FXS has been traded on various exchanges. The current valuation of FXS puts it at #124 in cryptocurrency rankings based on market capitalization.

Learn more about the Frax Share blockchain network and how it works or follow the price of its native cryptocurrency FXS and the broader market with our unique COIN360 cryptocurrency heatmap.

Introduction

Frax Share (FXS) is a unique cryptocurrency that operates as the cornerstone of the Frax ecosystem, a decentralized, algorithmic and fractional-reserve stablecoin protocol. FXS plays a pivotal role in maintaining the stability of the Frax stablecoin (FRAX) and offers a range of benefits to its holders.

Technology & Mechanism

Frax Share operates on the Ethereum blockchain, leveraging its robust and secure infrastructure.

Consensus Mechanism

As a token on the Ethereum network, FXS follows the Ethereum's Proof-of-Stake (PoS) consensus mechanism, which is energy-efficient and highly secure.

Blockchain Technology

FXS benefits from the Ethereum blockchain's smart contract functionality, which enables the algorithmic adjustments of the FRAX stablecoin supply based on market conditions.

Key Features

FXS boasts several key features that set it apart from other cryptocurrencies.

Scalability

As an ERC-20 token, FXS benefits from the scalability of the Ethereum network.

Security

FXS leverages the security of the Ethereum network, which is maintained by a global network of nodes.

Privacy

While transactions on the Ethereum network are transparent, users can maintain privacy by using different addresses.

Decentralization

FXS is part of a fully decentralized protocol, with no central authority controlling the supply of FRAX.

Development Team & Governance

The Frax protocol was developed by a team of experienced blockchain developers and economists. The protocol operates under a decentralized governance model, with FXS holders having voting rights on key decisions.

Use Cases & Potential Impact

FXS has a wide range of use cases, primarily related to the governance and stability of the FRAX stablecoin. It could potentially disrupt the traditional banking system by offering a decentralized alternative for stable value storage.

Purchase & Storage

How to Buy

FXS can be purchased on several major exchanges, including Uniswap and SushiSwap.

Wallets & Storage

As an ERC-20 token, FXS can be stored in any wallet that supports Ethereum-based tokens, such as MetaMask or Ledger.

Partnerships & Collaborations

Frax has collaborated with several major DeFi projects, including Yearn Finance and Alchemix.

Roadmap

The Frax team has a detailed roadmap, which includes plans for further decentralization and the introduction of new financial products.

Risks & Challenges

Like all cryptocurrencies, FXS faces several risks and challenges, including regulatory uncertainty and potential smart contract bugs.

Community & Regulatory Compliance

Community

The Frax community is active and engaged, with a strong presence on platforms like Discord and Twitter.

Regulatory Compliance

Frax operates in compliance with all relevant regulations and is committed to maintaining the highest standards of transparency and accountability.

In conclusion, Frax Share (FXS) is a unique and innovative cryptocurrency that plays a crucial role in the Frax stablecoin protocol. With its range of features and benefits, it offers a compelling option for those interested in the world of decentralized finance.

Frax Share Price9.1583 USD
Market Rank#124
Market Cap705,409,778 USD
24h Volume14,073,137 USD
Circulating Supply77,023,692.38 FXS
Max SupplyNo data
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