Frax Share Price in India (FXS)

Frax Share (FXS) is part of the Frax Protocol, a DeFi platform on Ethereum that offers the first partially collateral and partially algorithmic stablecoin, FRAX. The project was initially called Decentral Bank, when it first launched in May 2019. FXS serves as the native and governance token in the Frax ecosystem. 

Frax Share (FXS) was co-founded by Sam Kazemian, Travis Moore, and Jason Huan in 2019.

• Dual-token: Frax operates with two tokens, FRAX – a stablecoin, and FXS–the governance and value accrual token. FXS helps maintain the stability of FRAX.

• FXS token: FXS is the governance token of the Frax protocol that enables token holders to participate in staking, earn extra rewards, and vote on key decisions and protocol upgrades.

• Fractional-algorithmic stablecoin: FRAX is a unique stablecoin partially backed by collateral and partially stabilized algorithmically. FXS plays a crucial role in adjusting the collateral ratio.

• Community driven: Frax protocol is a community-driven project with over 60% of FXS tokens distributed to liquidity providers and yield farmers over time.

FXS, the native token of the Frax Share ecosystem, has had a stable momentum since its launch. It is trading at $2.18 as of August 2024, ranked #248 in terms of market cap and ranked #229 in terms of trading volume, showcasing investor trading activity in FXS. The FXS token has the potential to fetch extensive returns for investors due to its innovative stablecoin and its role in the growing DeFi ecosystem. Analysts forecast that the FXS token is poised to trade at around $24 by 2030.

Download the CoinSwitch app to invest in FXS.

• FXS token holders can stake their tokens, earn staking rewards, and participate in the protocol’s revenue sharing.

• Token holders can participate in the network’s governance and play a role in shaping the protocol’s future. 

• FXS plays a crucial role in adjusting the collateral ratio for FRAX stablecoin.

• FXS supports a unique fractional-algorithmic stablecoin, FRAX, that combines collateralization and algorithmic stability. 

• FXS holders can participate in the protocol’s governance and vote to influence the future direction of the Frax ecosystem.

• FXS token is built on a deflationary mechanism, where tokens are burned as FRAX is minted.

• The concept of fractional-algorithmic stablecoin model might be too complex for some. 

• FXS is subject to market fluctuations and volatility like other cryptos.

• Given its close connection to the FRAX token, FXS is dependent on the adoption of FRAX within the DeFi space.

• Download the CoinSwitch app to trade in Frax Share (FXS) crypto. 

• CoinSwitch allows crypto investing, starting at just ₹100.

• CoinSwitch offers a secure environment for crypto trading.

There was an initial coin offering (ICO) for the Frax protocol. However, its native token, FXS, was distributed in a decentralized way, with a significant portion of the tokens allocated to liquidity providers, yield farmers, and early supporters of the project.