Frax (FRAX) is a fractional algorithmic stablecoin partially backed by collateral and partially stabilized algorithmically. The ratio of collateralization and algorithmic depends on the market price of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateralization ratio. If FRAX is trading at under $1, the protocol increases the collateralization ratio.
Frax Share (FXS) is the non-stable, ERC-20 governance token of FRAX with the following use cases:
Governance: Grants holders governance rights to add/adjust collateral pools, set minting/redemption fees, and to change the refresh rate of the collateralization ratio.
Staking: Stake in various pools to earn interest with preferred APY.
Minting & Redeeming: FXS will be burned when minting FRAX and minted when redeeming FRAX.
Rewards: FXS rewards will be claimable for users who deposit Uniswap LP tokens to incentivized pairs.
At genesis, FRAX is 100% collateralized, meaning that minting FRAX only requires placing collateral into the minting contract. During the fractional phase, minting FRAX requires placing the appropriate ratio of collateralization and burning the ratio of FXS.
As of February 18th 2021, the total supply of FXS is 100,000,000 and the current circulating supply is ~5.34%.
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Fxs coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Frax Share coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
Frax Share (FXS) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
You can learn more about Frax Share (FXS) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://frax.finance/ Whitepaper https://docs.frax.finance/overview Github https://github.com/FraxFinance/frax-solidity Medium https://fraxfinancecommunity.medium.com/ Documentation https://docs.frax.finance/overview Telegram https://t.me/fraxfinance