Frax
FXS
Frax is the first stablecoin with an end goal of fully algorithmic mechanism that seeks to achieve this goal by beginning fully collateralized and slowly removing the collateral through on-chain smart contracts as long as the price remains stable at $1.
The protocol tests the price stability of the FRAX stablecoin by changing the collateralization to see the market’s confidence. This allows changing the collateral ratio periodically to see how much of FRAX can be algorithmically stabilized and how much of it needs collateral backing. The Frax Protocol is the first ever stablecoin to change collateralization ratios dynamically to achieve an algorithmic stablecoin.
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Key Info
- 2019 Founded
- United States
- 4 Employees
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Credibility
Github Verified
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News
- 3 altcoins to watch this week: Polygon, Frax and Memeinator
Feb 12, 2024 • powered by CryptoPanic
- Top Analyst Identifies 5 Tokens for $16T Tokenized Market
Jan 28, 2024 • powered by CryptoPanic
- Frax Finance’s Strategic Expansion Across DeFi Platforms via Axelar Network
Dec 16, 2023 • powered by CryptoPanic
- Frax Finance’s Strategic Expansion Across DeFi Platforms via Axelar Network
Dec 16, 2023 • powered by CryptoPanic
- Crypto Analyst’s Weekly Watchlist: LINK, ATOM, DYDX, FXS, and More!
Nov 27, 2023 • powered by CryptoPanic
- DeFi Platform Was Hacked, The Price of This Altcoin Dropped!
Nov 1, 2023 • powered by CryptoPanic
- Frax Finance Says its Domain Name Has Been Hijacked
Nov 1, 2023 • powered by CryptoPanic
- New sFRAX Vault Locks $35 Million Worth Of Deposits In 24 Hours
Oct 14, 2023 • powered by CryptoPanic
- Frax Finance's Fed Yield-Matching Staking Vault Attracts $30M, FXS Steady
Oct 13, 2023 • powered by CryptoPanic
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