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FRAX Price Today
The live Frax price today is $0.99401473 with a 24-hour trading volume of $14,035.33. Frax is -0.04% in the last 24 hours.The current MyToken ranking is #79 ,with a live market cap of $645,547,392.91 . It has a circulating supply of 649,434,270 FRAX and a max supply of 649,434,270 FRAX.
What Is Frax?
Frax protocol was the first fractional algorithm stablecoin system. Frax is open source, permissionless, and entirely on-chain -- currently implemented on Ethereum (and potentially cross-chain in the future). The ultimate goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic currency to replace fixed-supply digital assets like BTC. The protocol contains the following concepts:
Fractional algorithm -- Frax is a unique stablecoin whose partial supply is supported by collateral and partial supply algorithms. The ratio of collateral to the algorithm depends on the market pricing of FRAX stablecoins. If FRAX trades above $1, the agreement will lower the collateral ratio. If FRAX trades below $1, the agreement increases the collateral ratio.
Decentralization and governance minimization -- Community governance and an algorithmic approach that emphasizes a high degree of autonomy, without active management.
Full on-chain predictor - Frax V1 uses Uniswap (ETH, USDT, USDC time weighted average price) and Chainlink (US dollar price) predictor.
Two tokens -- FRAX is a stablecoin that targets a narrow band around the $1 / coin. < a href = "https://coinmarketcap.com/currencies/frax-shares/" > Frax Shares < / a > (FXS) is to produce cost, mint tax revenues and excess collateral value management scrip.
Prior to Frax, staboins were divided into three categories: fiat collateral, cryptocurrency overcollateral, and unsecured algorithms. Frax, the first decentralized staboin to classify itself as a fractional algorithm, enters the fourth and most unique category.
The supply ofFRAX stablecoins is dynamic and constantly changes due to its fractional algorithm monetary policy to keep the price at $1. < a href = "https://coinmarketcap.com/currencies/frax-shares/" > Frax Shares < / a > (FXS) tokens of supply at the beginning of the creation is restricted to 100 million tokens, not inflation a timetable in the agreement. FXS tokens are governance tokens that accumulate all the value of newly minted FRAX, fees, and excess collateral. FXS is an investment and governance asset, while FRAX is a currency token.
TheFrax protocol is a community-driven and uniquely designed stablecoin. Over 60% of the SUPPLY of FXS is issued to liquidity providers and yield farmers over many years. It is a completely decentralized protocol, governed on the chain. It was also the first and only staboin to adopt a fractional algorithm hybrid design when it was launched in November 2020.
The Frax protocol is the brainchild of American software developer Sam Kazemian, who came up with the first idea for fractional algorithm stablecoins in 2019.
The founding team of Frax Engineers includes Travis Moore and Jason Huan. Sam Kazemian originally came up with the idea when he noticed that stablecoins were growing rapidly but without any mixture of algorithmatic monetary policy and collateral. Projects that use purely algorithmic monetary policy fail or close without any significant traction. Frax is designed to measure the market's confidence in a partially algorithmized and partially collateralized stabocoin.
Who is the team at Frax?
Who are the investment institutions in Frax?
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Frax Related Information
![](https://cdn.mytoken.org/out/hot_news.png)
Could the New House Stablecoin Bill Kill FRAX and DAI?
![](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvYjJlMDRjZjAtYzM3Zi00NGYxLThmMDEtMDJmZWMzNTI3NTJjLmpwZw==.jpg)
Stablecoin projects need collaboration, not competition: Frax founder
![](https://cdn.mytoken.org/out/hot_news.png)
Frax Finance to publicly release liquid staking protocol within two weeks
Pairs
Rank | Source | Pair | Price | 24h | Volume(24H) | Trading Percent | Updated | ||||
---|---|---|---|---|---|---|---|---|---|---|---|
![]() | 1 | ![]() | Gate.io | FRAX/USDT | 0.99810000 | -0.01% | $13.3 | 0.0474% | 2024-09-08 00:23:06 | ||
![]() | 2 | ![]() | Gate.io | FRAX/ETH | 0.00044750 | -0.89% | $6.8918 | 0.0246% | 2024-09-08 00:22:45 | ||
3 | LATOKEN | FRAX/USDT | 0.99400000 | -0.01% | $14,015.16 | 49.9281% | 2024-09-08 00:22:10 |