Frax Share (FXS)

Frax Protocol is an innovative and community-driven stablecoin project that offers a new category of stablecoins called fractional-algorithmic. Unlike traditional stablecoins that are either fiat collateralized, overcollateralized with cryptocurrency, or algorithmic with no collateral, Frax combines both collateral and algorithmic mechanisms. This unique design provides stability while offering the advantages of scalability and decentralization. The Frax Protocol was conceptualized by Sam Kazemian, a prominent American software developer, in 2019. He recognized the need for a stablecoin that combines algorithmic monetary policies with collateralization. With the support of the Frax engineering team, including Travis Moore and Jason Huan, the protocol was launched in November 2020. Frax Share (FXS) is the governance token of the Frax Protocol. Holders of FXS have the power to participate in the decision-making process of the protocol, influencing its future development and direction. The token also accrues value from fees, seigniorage revenue, and excess collateral, providing potential compensation for holders. With a hard cap of 100 million tokens and no inflation schedule, FXS represents ownership and governance rights within the protocol. In conclusion, the Frax Protocol introduces a new era of stablecoins with its fractional-algorithmic design and community-oriented approach. It aims to revolutionize the digital currency space by offering a scalable, decentralized, and algorithmic currency alternative.