The Frax Protocol uses a one-of-a-kind model for its FRAX coin, which is partially backed by collateral and partially stabilized algorithmically. It aims to create highly scalable, decentralized money in place of fixed-supply digital assets. Frax is the first fractional stablecoin protocol. Frax Share (FXS) is the governance token of the Frax ecosystem of smart contracts. It is used to accrue fees, seigniorage revenue, and excess collateral value. Frax Share is a community-governed protocol based on Uniswap and Chainlink oracles. FRAX is the stablecoin and FXS is governance token. FXS is a non-stable ERC-20 coin. It can be used for staking, voting, rewards, redeeming and minting. You can buy FXS from a number of crypto exchanges.
How To Buy Frax Share or Add it to your strategy
The fastest, most convenient way to purchase Frax Share is to purchase it on ICONOMI. We check Frax Share live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Frax Share by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto trades use fundamental and technical analysis to evaluate if Frax Share is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Frax Share, we recommend you read the next section, as copying might be a better approach.
Add Frax Share to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Frax Share in their structure.