Frax frax

Frax price today is USD 1.003 and the trading volume in 24 hour is USD 15,416,159. Price change in the FRAX price in the last 24 hour is 0.001 . It has a circulating supply of 1,044,853,133.259 coins and a total supply of 1,044,853,133.259. Total market cap of the FRAX is USD 1,047,582,131 which has the movement of -0.009 in the last 24 hours

Frax is the first fractional-algorithmic stablecoin. Stablecoin are a type of cryptocurrencies whose value is pegged to another fiat currency like the US Dollar. Frax is a unique stablecoin with parts of its supply backed by collateral & parts of the supply algorithmic. The ratio of the collateralized & algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol adjusts & decreases the collateral ratio. And if FRAX is trading at under $1, the protocol increases the collateral ratio. It targets a tight band around $1/coin. Frax Shares (FXS) is the governance token that accrues fees, seigniorage revenue, and excess collateral value. Frax is currently implemented on Ethereum with possible cross-chain implementations in the future

The Frax Protocol is the founded by an American software developer Sam Kazemian. He came up with the first idea of a fractional-algorithmic stablecoin in 2019. The founding team members of 'Frax engineers' includes Travis Moore & Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly, but they did have any mixture of algorithmic monetary policy & collateralization. The Frax Protocol is the founded by an American software developer Sam Kazemian. He came up with the first idea of a fractional-algorithmic stablecoin in 2019. The founding team members of 'Frax engineers' includes Travis Moore & Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly, but they did have any mixture of algorithmic monetary policy & collateralization. Projects with purely algorithmic monetary policy had failed or shut down without any significant traction. Frax was designed to measure the market’s conf… Read more

The main reasons to invest in Frax include: Frax is different, before it, stablecoins were divided into 3 different categories: 1. Fiat collateralized, 2. Overcollateralized with cryptocurrency, and 3. Algorithmic with no collateral. Frax is the first decentralized stablecoin to classify itself as fractional-algorithmic, ushering in the 4th and most unique category. - Frax is a highly scalable, decentralized, algorithmic stablecoin that can’t be frozen or censored like Tether USDT or USDC. - You can capture the growth of the stablecoin by owning Frax Shares (FXS) which accrues fees, seigniorage revenue, and excess collateral value