Frax Share (FXS) currently has a price of €7.83 and is down -1.80% over the last 24 hours. The cryptocurrency is ranked 121 with a market cap of €602.3M. Over the last 24 hours, it saw €27M of trading volume. The token has a circulating supply of 76.9M tokens out of a total supply of 99.7M tokens.
Frax Share (FXS) is a cryptocurrency within the Frax ecosystem that offers stability and governance. As a governance token, FXS allows holders to vote on proposals and shape the ecosystem's future. Its algorithmic nature dynamically adjusts supply in response to demand, maintaining the stability of the Frax stablecoin (FRAX). This uniqueness sets FXS apart from other cryptocurrencies and offers a potential solution to the volatility issue. Additionally, FXS incorporates a fee-sharing mechanism, allowing token holders to earn passive income and participate in the ecosystem's success. The aim of Frax Share is to provide a stable alternative to traditional currencies, with transparency and opportunities for governing and benefiting from the growing Frax ecosystem.
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