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About FRAX
FRAX is the native token of the Frax Protocol, a decentralized finance (DeFi) ecosystem that pioneered the fractional-algorithmic stablecoin model. Following the North Star Hardfork, the protocol's governance and utility token, formerly known as Frax Share (FXS), was rebranded to Frax (FRAX). The asset serves as the governance token for the ecosystem, which includes a stablecoin pegged to the US Dollar, a liquid staking platform, and its own Layer 2 blockchain, Fraxtal. It is used for governance voting, value accrual from protocol fees, and as a utility token across various DeFi integrations.
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