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What is Frax finance?

The Frax Finance Stablecoin Protocol, also known as Frax, is a stablecoin protocol that issues decentralized stablecoins and contains subprotocols to support them. The Frax Protocol currently issues 3 stablecoins: FRAX, FPI, and frxETH.The Frax Protocol also has 3 subprotocols within it that integrate its stablecoins: Fraxlend, Fraxswap, and Fraxferry.

Core concepts of Frax finance

  • Three Stablecoins – The Frax Protocol currently issues 3 stablecoins. FRAX, a USD pegged asset.

  • Fraxswap, a native AMM – Fraxswap is the first AMM with time weighted average market maker orders used by the Frax Protocol for rebalancing collateral, mints/redemptions, expanding/contracting stablecoin supply, and deploying protocol owned liquidity onchain.

  • Fraxlend, permissionless lending markets – Fraxlend is the lending facility for Frax-based stablecoins allowing debt origination, customized non-custodial loans, and onboarding collateral assets to the Frax Finance economy.

  • Fraxferry, optimistic transfer protocol for Frax-based tokens – Fraxferry transfers natively issued Frax Protocol tokens across many blockchains.

  • Frax Share (FXS) as base layer governance token – Frax Share (FXS) is the governance token of the entire Frax ecosystem of smart contracts which accrues fees, revenue, and excess collateral value.

  • Gauge Rewards System – The community can propose new gauge rewards for strategies that integrate Frax-based stablecoins.

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