Frax Share

About Frax Share

Frax Share (FXS) is the governance and staking token of the Frax protocol, a fractional-algorithmic stablecoin that aims to provide a decentralized and scalable solution for global financial markets. FXS holders have the power to propose and vote on changes to the protocol, while also being able to earn rewards by staking their tokens. The Frax protocol operates on both the Ethereum and Binance Smart Chain networks, and it utilizes a unique algorithmic design that aims to provide a stablecoin that is both collateralized and scalable.

How to buy $FXS with a payment card

1. Enter the amount of $FXS and fiat currency that you wish to purchase.

2. Verify your phone and email.

3. Enter or create $FXS wallet

You are given the option to enter your $FXS wallet address or create one using the Swipelux widget.

4. Pass KYC flow

This verification process helps protect you from fraud and other malicious activities.

5. You're now ready to buy $FXS with a credit and debit card.

$FXS analytics

1. Market Position and Adoption: Frax Share (FXS) is a decentralized stablecoin that aims to offer a more reliable and scalable solution for cryptocurrency users. The FXS token is an essential part of the Frax ecosystem, used to stabilize the price of Frax, which is a fractional-algorithmic stablecoin. As of February 2023, FXS has a market cap of over $812 million and is ranked #68 in terms of market capitalization.

2. Technology and Platform: Frax Share (FXS) is built on the Ethereum blockchain and uses a hybrid algorithmic design to achieve price stability. The Frax protocol is unique in that it combines a fractional-reserve bank model with an algorithmic model. The protocol is designed to ensure price stability and to provide a stable store of value for users.

3. Team: Frax Share was developed by Sam Kazemian, who is the co-founder and CEO of the project. He has a strong background in economics and has worked for several prominent blockchain projects in the past. The team behind the project includes experienced developers, economists, and business professionals.

4. Competition: As a decentralized stablecoin, Frax Share (FXS) faces competition from several other stablecoins, including Tether (USDT), USD Coin (USDC), and DAI (DAI). However, Frax Share's unique algorithmic design and fractional reserve model set it apart from other stablecoins and give it a competitive advantage.

5. Supply: The total supply of FXS is capped at 99,822,984, with a circulating supply of 73,949,516 FXS tokens. There is no maximum supply for the token. The circulating supply is expected to increase over time as the Frax ecosystem grows and demand for FXS increases.

$FXS risks

1. Market volatility: As with all cryptocurrencies, the market price of FXS is highly volatile, which means that the value of an investor's holdings can fluctuate rapidly and unpredictably, potentially resulting in significant losses.

2. Regulatory uncertainty: The regulatory environment surrounding cryptocurrencies is constantly evolving, which means that FXS and other DeFi tokens could be subject to new laws and regulations that may impact their adoption and market value.

3. Smart contract vulnerabilities: FXS is built on smart contracts, which are computer programs that can be vulnerable to bugs and security flaws. If a smart contract is compromised, it could result in the loss or theft of user funds, which could damage the reputation of the project and lead to a decline in its market value.

4. Competition from other DeFi projects: FXS operates in a highly competitive market, with many other DeFi projects offering similar features and functionality. If competing projects are more successful at attracting users and liquidity, it could limit the growth potential of FXS and result in a decline in its market value.

5. Economic risks: The price of FXS is linked to the success of the Frax stablecoin, which is designed to maintain a peg to the US dollar. If Frax's algorithm fails to maintain this peg, it could lead to a decline in the demand for FXS and a corresponding decline in its market value. Additionally, changes in macroeconomic conditions, such as inflation or changes in interest rates, could impact the demand for stablecoins and therefore the demand for FXS.

Potential market development triggers

1. Expansion to other blockchain networks: As Frax Share gains more popularity, there is a possibility that it could expand to other blockchain networks. This expansion could potentially increase the adoption of FXS and lead to more use cases.

2. Integration with DeFi platforms: Integrating with other DeFi platforms could also increase the adoption of FXS token. This would allow users to access additional features and services within the DeFi ecosystem and increase demand for FXS.

3. Increase in collateralization ratio: A potential market development trigger could be an increase in the collateralization ratio for the Frax stablecoin. This could increase confidence in the system and drive more users to use FXS for collateral.

4. Partnerships with payment providers: If Frax Share forms partnerships with payment providers, it could potentially increase the use case for FXS as a payment method. This could lead to an increase in demand for FXS and ultimately increase the token's value.

5. Increased interest from institutional investors: If institutional investors start showing more interest in the DeFi space, it could potentially increase the demand for FXS token. This would drive up the price of the token and increase its market capitalization.