FXS
No. 182Tendances du marché
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What is Frax Share (FXS)?
The Frax Protocol innovatively issues decentralized stablecoins and encompasses subprotocols to bolster their integration and functionality. Presently, it issues three distinct stablecoins: FRAX, FPI, and frxETH.
Frax Share (FXS) as base layer governance token: Frax Share (FXS) is the governance token for the Frax ecosystem of smart contracts which aggregate fees, revenue, and surplus collateral value. FPIS, the governance token of FPI, shares its value capture with FXS holder.
Who Created Frax Finance？
Frax Finance was established in 2019 by Sam Kazemian, Travis Moore, and Jason Huan with the vision of innovating a decentralized stablecoin system, independent of the price fluctuations of Bitcoin. Sam Kazemian and Travis Moore brought their prior collaborative experience from Everipedia, a blockchain-based knowledge platform, serving as an on-chain encyclopedia, to the foundation of Frax Finance, aiming to leverage their blockchain expertise in the creation of a stablecoin ecosystem.
How Does Frax Protocol Work?
Within the Frax Protocol are three integral subprotocols designed to incorporate its stablecoins into the broader ecosystem: Fraxlend, Fraxswap, and Fraxferry.
Fraxswap, a pioneering AMM, utilizes time-weighted average market maker orders for collateral rebalancing, stablecoin supply adjustments, and liquidity deployment within the Frax Protocol.
Fraxlend offers a permissionless lending platform for Frax stablecoins, facilitating debt origination, non-custodial loan customization, and collateral asset integration into the Frax economy.
Fraxferry is an optimistic transfer protocol designed for seamless cross-blockchain transfers of Frax Protocol tokens, enhancing interoperability and fluidity across the ecosystem.
Tokenomics
Token Utility
FXS serves as the cornerstone staking and governance token within the Frax ecosystem, centralizing all utility aspects.
As of May 2020, the protocol introduced a mechanism for FXS holders to lock their tokens, thereby creating veFXS. This innovation affords holders enhanced rewards, elevated governance privileges, and profits from AMOs.
Token Distribution
FXS supply is initially set to 100 million tokens at genesis, but the amount in circulation will likely be deflationary as FRAX is minted at higher algorithmic ratios. The design of the protocol is such that FXS would be largely deflationary in supply as long as FRAX demand grows.
Token distribution:
Community (65% – 65,000,000 FXS):
60% – Liquidity Programs / Farming / Community – Via gauges & governance halving naturally every 12 months
5% – Project Treasury / Grants / Partnerships / Security-Bug-Bounties – via Team and Community discretion
Team and Investors (35% – 35,000,000 FXS):
20% – Team / Founders / Early Project Members – 12 months, 6 month cliff
3% – Strategic Advisors / Outside Early Contributors – 36 months
12% – Accredited Private Investors – 2% unlocked at launch, 5% vested over the first 6 months, 5% vested over 1 year with a 6 month cliff
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