What is a fractional-algorithmic stablecoin?

Frax originally maintained its peg partly through collateral (USDC) and partly through algorithmic supply mechanics using FXS. The ratio between the two was governed by market demand and FXS price.

Can I swap FXS without KYC?

Yes. SyntheticSwap supports FXS swaps with no registration or identity verification.

frxETH is Frax's liquid staking token for Ethereum — deposit ETH and receive frxETH. Staking frxETH as sfrxETH earns all staking rewards for the frxETH pool.

AMOs (Algorithmic Market Operations) are smart contracts that autonomously deploy Frax protocol assets across DeFi (Curve, Aave, etc.) to generate yield while maintaining the FRAX peg.

veFXS is obtained by locking FXS for up to 4 years. veFXS holders earn protocol fees from FRAX, frxETH, and other Frax products, plus boosted yields in Frax gauge pools.

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Frax Share

Governance Token of the Frax Stablecoin and DeFi Ecosystem

Launch Year

2020

Consensus

Proof of Stake

Max Supply

100,000,000 FXS

Block Time

~12 seconds

FXS

Frax Share

Price—

24h Change—

Market Cap—

Volume (24h)—

Circulating Supply—

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Frax Share Price Chart

FXS / USD

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About Frax Share

Frax Share (FXS) is the governance and value accrual token of the Frax Finance ecosystem — one of the most innovative DeFi stablecoin protocols. Frax Finance created FRAX (a partially algorithmic, partially collateralized stablecoin), frxETH (a liquid staking token for Ethereum), and frxBTC among others. FXS captures value from all protocol revenue: FRAX stability fees, frxETH staking yields, and lending protocol earnings. FXS can be locked as veFXS (vote-escrowed) to earn protocol fees and boost yields. Frax AMO (Algorithmic Market Operations) controllers actively deploy protocol assets across DeFi to generate yield and maintain FRAX stability.

History

2020

Frax Finance launches FRAX as the first fractional-algorithmic stablecoin; FXS token distributes to liquidity providers.

2021

Frax V2 launches with AMOs (Algorithmic Market Operations) — smart controllers that deploy protocol assets across DeFi.

2022

frxETH (Frax Ether) liquid staking token launches; quickly becomes top-5 liquid staking protocol.

2023

Frax transitions FRAX to 100% collateralized; Fraxlend and FraxFerry cross-chain bridge launch.

2024

Frax expands with frxBTC and new RWA-backed collateral strategies; FXS value accrual from multi-protocol revenue.

How to Swap FXS

Exchanging Frax Share (FXS) on SyntheticSwap is simple and needs no account or identity check. FXS is a multi-chain token primarily on Ethereum, supported by MetaMask, Coinbase Wallet, Trust Wallet, and Ledger Live. Select FXS in the swap interface, pick your desired output asset, provide a receiving wallet address, and review the live exchange rate. Your swap settles automatically after your FXS deposit is confirmed — the destination token is sent directly to your wallet without delay.

How to Store FXS

FXS (ERC-20) is stored in MetaMask, Ledger, Trust Wallet, or any Ethereum wallet. For locking FXS as veFXS to earn protocol fees and boosted rewards, visit app.frax.finance.

Popular Pairs

ETH

BTC

FXS

FXS

Frequently Asked Questions

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