Legacy Frax Dollar FRAX Social Audit & Trust Score
Market Data & Token Stats
| Fully Diluted Valuation | $274.15M |
|---|---|
| 24H Trading Volume | $859,632 |
| 24H Low / High | $0.9925 / $0.9948 |
| Circulating Supply | 275.94M |
| Total Supply | 275.94M |
| Max Supply | ∞ |
Key Project Information
| Categories | Decentralized Finance (DeFi) 18 more |
|---|---|
| Founder | Sam Kazemian 1 more |
| Website | frax.finance |
| Socials | 1 more |
| Chains | Ethereum Ecosystem 13 more |
| Explorer | Meter 8 more |
| Contracts |
0x853....5b99e
13 more
|
OGAudit Security Evaluation & Social Audit Metrics
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Legacy Frax Dollar (frax) Expert User Reviews
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$frax Markets
| Name | Pair | OG Score |
|---|
About Legacy Frax Dollar
Frax is a fractional-algorithmic stablecoin protocol. This innovative approach combines the strengths of collateralized and algorithmic stablecoins, aiming to create a scalable, trustless and remarkably stable form of on-chain money.
Key Features:
Frax operates with a two-token system – the stablecoin FRAX, pegged 1:1 to the US dollar and the governance/utility token Frax Shares (FXS). The protocol's stability is maintained through smart contracts that mint new tokens if prices rise or buy them if prices fall, creating a dynamic equilibrium.
Minting and Redemption:
Frax users can participate in minting by providing two tokens, namely USDC and FXS, based on the Frax collateral ratio (CR). This ratio determines the proportion of USDC and FXS needed to mint a certain amount of FRAX. Conversely, FRAX can be redeemed for USDC and FXS.
Noteworthy Features:
Frax Finance stands out with its unique offerings. Users can provide liquidity to various Uniswap pools, earning rewards in the form of the platform’s native token, FXS. Additionally, the platform supports long-term time-locked staking, allowing users to lock up LP tokens for up to three years and earn rewards based on the lock-up duration and collateral ratio.
Use Cases and Future Plans:
Frax Finance is not just a stablecoin; it's a dynamic ecosystem. Future developments include the introduction of FRAX bonds, a virtual Automated Market Maker (vAMM) and the incorporation of new collateral types. These advancements aim to enhance FRAX's usability, making it a versatile asset in the crypto space.
Market Presence:
FRAX can be obtained from major decentralized exchanges such as Uniswap, Sushiswap and Pangolin. As of now, FRAX is valued at $1.00, reflecting its stability. The protocol's market capitalization stands at $669.70 million, with a circulating supply of 669.66 million tokens.
Conclusion:
Frax Finance redefines stability in the crypto world by seamlessly blending collateralized and algorithmic principles. The two-token system, liquidity incentives and long-term staking options make Frax Finance a unique player in the market. As it continues to evolve, Frax Finance demonstrates a commitment to providing a stable and innovative financial solution for the decentralized future.
Frax Finance encourages liquidity provision on Uniswap, allowing users to earn FXS token rewards. Additionally, it offers long-term time-locked staking, enabling users to lock up LP tokens for up to 3 years and earn rewards based on the duration and collateral ratio.
What is unique about Legacy Frax Dollar (FRAX)?
Frax stands out as the first fractional-algorithmic stablecoin, combining partial collateralization with cryptographic algorithms to achieve stability. Its dual-token system includes FRAX, pegged to the US dollar and FXS, a governance/utility token.
Who are the founders of Legacy Frax Dollar (FRAX)?
Sam Kazemian and Travis Moore.
Who are the backers/investors of Legacy Frax Dollar (FRAX)?
Frax Finance, Ascensive Assets
Where can I buy Legacy Frax Dollar (FRAX)?
You can buy Legacy Frax Dollar (FRAX) on Uniswap V3 (Ethereum), BitrueUniswap V2 (Ethereum)Uniswap V3 (Polygon)Uniswap V3 (Optimism) cryptocurrency exchanges.
Information in this section carefully collected and curated from publicly available data from official sources, including the Legacy Frax Dollar Official Website, Legacy Frax Dollar GitHub Repository and Legacy Frax Dollar X (Twitter) Account.
The information presented on this page is created and published by the OGAudit Editorial Team for educational and informational purposes. It should NOT be construed as an endorsement, or as legal, or investment advice. If you believe any content on this page is outdated or incorrect, please feel free to contact us for updates and corrections.
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