The live price of Frax Share (FXS) today is 9.2231 USD, and with the current circulating supply of Frax Share at 77,022,973.39 FXS, its market capitalization stands at 710,390,976 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 #120 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.
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.
Frax Share operates on the Ethereum blockchain, leveraging its robust and secure infrastructure.
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.
FXS benefits from the Ethereum blockchain's smart contract functionality, which enables the algorithmic adjustments of the FRAX stablecoin supply based on market conditions.
FXS boasts several key features that set it apart from other cryptocurrencies.
As an ERC-20 token, FXS benefits from the scalability of the Ethereum network.
FXS leverages the security of the Ethereum network, which is maintained by a global network of nodes.
While transactions on the Ethereum network are transparent, users can maintain privacy by using different addresses.
FXS is part of a fully decentralized protocol, with no central authority controlling the supply of FRAX.
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.
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.
FXS can be purchased on several major exchanges, including Uniswap and SushiSwap.
As an ERC-20 token, FXS can be stored in any wallet that supports Ethereum-based tokens, such as MetaMask or Ledger.
Frax has collaborated with several major DeFi projects, including Yearn Finance and Alchemix.
The Frax team has a detailed roadmap, which includes plans for further decentralization and the introduction of new financial products.
Like all cryptocurrencies, FXS faces several risks and challenges, including regulatory uncertainty and potential smart contract bugs.
The Frax community is active and engaged, with a strong presence on platforms like Discord and Twitter.
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.
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