Frax Share to Be Listed on BitVenus on February 27th

BitVenus will list Frax Share FFXS on February 27th.

Refer to the official tweet by FXS:

FXS Info

Frax FFRAX is a fully decentralized stablecoin protocol that uniquely combines algorithmic management with collateral backing to create a novel hybrid approach. Notably, Frax is the first fractional-reserve stablecoin of its kind.

Typically, stablecoins are either fully collateral-backed (such as USDT) or fully algorithmic (like Ampleforth). Frax melds these two approaches together, creating a dynamic blend of collateralization and algorithmic stabilization.

In cases where the stablecoin trades below its peg of one US dollar, the introduction of algorithmic regulation helps to burn tokens until the price restores to a dollar. If the token trades above its one-dollar price, the system mints more Frax tokens to sell, thus stabilizing the price.

Frax FFRAX has a secondary token, FRAX Shares FFXS, which is used for governance and participation in the Frax ecosystem. This means FXS holders have voting rights on governance matters and stabilization of the stablecoin. FXS holders are also entitled to a share of the fees earned in the Frax system.