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Frax (Ethereum)

FRAX

FRAX is the native asset and gas token of the Fraxtal blockchain. FRAX powers network operations and secures the blockchain through validator staking mechanisms.

Risk Rating
Average
$2.27
1.17%
What is Frax (Ethereum)?
What we like
FXS leverages the vote escrow tokenomics (popularized by Curve) to incentivize users to lock up their tokens to receive protocol rewards and voting power.
What we like less
FXS utility is heavily tied to governance power (via veFXS) and success of the Fractal blockchain.
What it means for you
FXS offers you solid value accrual mechanisms from minting and redeeming fees as well as revenue earned from its algorithmic market operations (AMO) controller.
Information
Blockchain
  • Ethereum
Info
Key Metrics
  • Market Cap: $205M
  • Fully Diluted Valluation: $226.3M
  • FDV / MC: 1.1
  • Ranking inside Exponential (excluding stables): #55
  • Circulating Supply: 90,302,479
  • Total Supply: 99,681,496
  • Total Supply: 99,681,496
  • Volume (24H): $14.2M
  • ATH: $42.80 (01/12/2022)
  • ATL: $1.26 (03/11/2025)
Risk Assessment
Average
Asset Strength

FRAX is a low-cap asset that represents the protocol's native governance or utility token. This asset is exposed to the underlying risks of Frax, a protocol rated as Average.

Dependencies

Frax

Asset Tokenomics

FRAX has a fixed supply. FRAX is the native asset and gas token of the Fraxtal blockchain.

Asset Volatility

FXS is moderately correlated to the overall market.

Things to know about FRAX (prev. FXS)

What is FXS used for?

The FXS token is used to govern the protocol and give holders the ability to submit proposals and potential changes to the allocation of pool rewards. The amount of voting power a user has is determined by how many FXS tokens are staked and for how long. The longer FXS is staked (max of four years), the more voting rights are granted.

FXS tokenomics

The total supply of FXS was initially hard capped to 100M tokens. The initial supply includes 60M tokens distributed to the community for yield farming programs and DeFi initiatives (maximum one year emission between 18-30M depending on the collateral ratio of FRAX), 5M to a community governed treasury, and 35M to the team and investors (20% team, 3% strategic advisors and early contributors, 12% accredited private investors). The actual supply is intended to be deflationary as long as there is demand for FRAX and while it is minted at higher collateral ratios.

How does FXS accrue value?

FXS has value accrual mechanisms through its power to promote certain pools across its AMO and locking mechanism to accrue rewards for long-term liquidity providers. Voters determine the different allocations of FXS tokens to each pool, which can boost rewards for liquidity providers. Users are also incentivized to lock their FXS tokens within the protocol in return for veFXS tokens. FXS lockers are entitled to fees generated from minting and redeeming as well as by the protocol's several product lines.