Verified OGs:
9
CryptoFam:
303
Projects:
27430
BTC:
$118,871
4.23%
ETH:
$4,354.42
5.20%
ETH Gas
Low
Avarage
High
Data by Etherscan
Market Cap:
$4.17T
Fear&Greed:
64

Legacy Frax Dollar FRAX Logo
Legacy Frax Dollar FRAX
$0.99803 0.08%
OG Score 46.65
Reviews 4
Legacy Frax Dollar FRAX Logo

Legacy Frax Dollar FRAX Price

$0.99803 0.08%
Low All Time High
$0.874536 $1.14

Introduction

Frax (FRAX) is a fractional-algorithmic stablecoin, utilizing a dual-backed mechanism with partial collateralization in USDC and algorithmic stabilization through smart contracts. More

OG Score 46.65
Reviews 4
Market Cap $295.64M
Market Cap Rank # 273

Token Stats

Fully Diluted Valuation $295.64M
24H Trading Volume $3.68M
24H Low / High $0.99 / $ 1.00
Circulating Supply 296.21M
Total Supply 296.21M
Max Supply

Info

Categories Fiat-backed Stablecoin 18 more
Founder Sam Kazemian 1 more
Website frax.finance
Socials 1 more
Chains Ethereum Ecosystem 13 more
Explorer Meter 9 more
Contracts Legacy Frax Dollar 0x853....5b99e 13 more

FRAX/USD Price Chart

Loading...

$FRAX Community Sentiment

OG Evaluation

OG Score

OG Score Rank #259
Reviews 4
Gem Score N/A

OGAudit Coin Evaluation Metrics

Innovation 47 .45
Innovation Evaluates whether the project introduces a unique, impactful solution that clearly outperforms competitors.
Security 44 .33
Security Assesses the robustness of smart contracts or protocol security, and the availability of up-to-date audit reports.
Community 47 .70
Community Measures how actively the team engages its community and whether governance decisions involve on-chain voting or transparent input.
Tokenomics 43 .08
Tokenomics Examines the utility of the token, distribution fairness, and whether there are clear incentives for long-term holding or usage. Also evaluates the project’s revenue model, including income sources, sustainability, and whether value flows back to token holders or the ecosystem.
Team 52 .70
Team Evaluates the experience,credibility of the founding and development team.
Roadmap 44 .65
Roadmap Assesses the clarity, transparency, and timely execution of the project's development roadmap.

Legacy Frax Dollar $frax User Reviews

What Crypto OGs are Saying About Legacy Frax Dollar

$frax Markets

Name Pair OG Score

About Legacy Frax Dollar $frax

What is Legacy Frax Dollar (FRAX)?

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), Uniswap V3 (Arbitrum One)Uniswap V2 (Ethereum)Uniswap V3 (Polygon)Uniswap V3 (Optimism) cryptocurrency exchanges.

Read More
Join OGAudit
Help Regulate
the Crypto Space!
Limited Seats Available

Explore Similar Cryptocurrencies

🚀