The Frax Protocol is the brainchild of American software developer Sam Kazemian who came up with the first idea of a fractional-algorithmic stablecoin in 2019. It is the first stablecoin that uses a fractional algorithm. It is an open source and it doesn't need permission to run on the blockchain which is currently Ethereum. Though it could be used on other chains in the future. It wants to replace digital assets with a fixed number, like Bitcoin, with open computational money that can be used by anyone. Some ideas about protocol are:

<ul><li>Frax is one of a kind because it is a stablecoin with an automated and collateralized supply. The collateralized/algorithmic ratio is based on the market price of the FRAX stablecoin. Protocol lowers the security ratio when FRAX trades for more than $1. If the value of FRAX drops below $1, the procedure raises security.</li><li>Minimal government and decentralization are controlled by the community and run by computers instead of managers.</li><li>Fully on-chain oracles Uniswap (ETH, USDT, and USDC time-weighted average prices) and Chainlink (USD price) are used by Frax v1.</li><li>Two tokens: FRAX is a stablecoin that wants to be worth $1 each. Frax Shares (FXS), a governance token, makes fees, seigniorage, and extra security.</li><li>Frax is the first decentralized stablecoin with a fractional algorithm and the most unique.</li></ul><h2>What Makes Frax Unique?</h2><p>The Frax Protocol is a stablecoin with a unique design that is run by the community. Over 60% of the FXS that is available is given to liquidity providers and yield farmers over a number of years. It is a completely open system that is run on the blockchain. At the time of its start in November 2020, it will also be the first and only stablecoin to use a mixed fractional-algorithmic design.</p>

Frax (prev. FXS)

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Frax (prev. FXS) (FRAX) 30 Days Historical Price Data

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