How to buy Frax Protocol from Bitget 

What is Frax Protocol (FXS)?

Frax Protocol is a DeFi protocol on Ethereum that introduces the first partially collateralized and partially algorithmic stablecoin. Its goal is to create a new type of cryptocurrency that is decentralized, scalable, and managed by algorithms to replace digital assets with fixed supply. The team behind Frax believes that such cryptos have better efficiency and is proud that their stablecoin is the only algorithmic stablecoin to have never lost peg.

The FRAX stablecoin of Frax Protocol currently exists on 7 chains, namely Ethereum, Polygon, Avalanche, BNB Chain, Fantom, Harmony, and Moonriver.

Frax Protocol was founded in 2019 by Sam Kazemian, Jason Huan, and Travis Moore.

How Frax Protocol (FXS) Works

Frax operates with two tokens: the fractionally-algorithmic stablecoin FRAX and the governance token FXS (FRAX Shares). The collateral ratio, price, and supply of FRAX, as well as the price and supply of FXS intricately influence one another, and they all are adjusted dynamically using algorithms. The time-weighted average of Uniswap pair price and the ETHUSD Chainlink Oracle are also variables that play a part in determining the price and collateral of FRAX. These sophisticated mechanisms allow FRAX to stay on peg and they can be modified through governance.

How Many Frax Protocol (FXS) Tokens Are in Circulation?

The hard cap on supply of FXS is 100 million, and the circulating supply is 16.2 million.

How to Buy Frax Protocol (FXS)

Consider investing in Frax Protocol (FXS)? It only takes 2 minutes to create an account on Bitget and start trading FXS. 

Check out the available FXS trading pairs on Bitget!

Spot market

FXSUSDT

Frax Protocol (FXS) Resources

Official Website

Official Documents

Bitget: Where The World Trades Frax Protocol

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How to buy Frax Protocol from Bitget 

What to Do After I Buy Frax Protocol

Store/Hold Frax Protocol

Many users hold on to their Frax Protocol with the expectation of it increasing in value. You can store your FXS safely on your Bitget account or on our crypto wallet app Trust Wallet, the most user-friendly and secure mobile wallet.

Trade Frax Protocol

You can trade Frax Protocol for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for Frax Protocol trading to meet your needs.

Send Frax Protocol

Yes, Bitget allows you to easily transfer value around the world, fast. You can buy Frax Protocol online and send to anyone and anywhere with their Frax Protocol address.

Spend Frax Protocol

You can also buy goods and services with your Frax Protocol. More and more vendors and retailers accept Frax Protocol every day.

Donate Frax Protocol

Bitget Charity accepts Frax Protocol donations for global projects that aim to improve the lives of people in the bottom billion. You can donate Frax Protocol so no one misses out on the growth made possible by blockchain.

Learn More About Frax Protocol

You can read more in-depth articles on Frax Protocol from Bitget Research and study how cryptocurrencies like Frax Protocol work on Bitget Academy

Buy and Sell FXS on the Move

Download the Bitget crypto trading app and trade your FXS plus 150+ cryptocurrencies, anytime and anywhere.

(!) Cryptocurrency investment activities, including actions done to buy Frax Protocol online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Frax Protocol instantly, and we put our best efforts to fully inform our users about each and every cryptocurrency we offer on the exchange, but we are not responsible for the results that may arise from your Frax Protocol purchase. This page and any information in it is not meant to be interpreted as an endorsement of any particular cryptocurrency or method of acquiring it.