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| Frax Share 
| #FXS
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| FXS Price: | $4.17 | | Volume: | $3.2 M | | All Time High: | $45.44 | | Market Cap: | $0.3 B |
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| Circulating Supply: | 70,181,855 |
| Exchanges: | 21
| | Total Supply: | 99,822,984 |
| Markets: | 28
| | Max Supply: | — |
| Pairs: | 9
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The price of #FXS today is $4.17 USD.
The lowest FXS price for this period was $0, the highest was $4.17, and the current live price for one FXS coin is $4.16648.
The all-time high FXS coin price was $45.44.
Use our custom price calculator to see the hypothetical price of FXS with market cap of ETH or other crypto coins. |
The code for Frax Share is #FXS.
Frax Share is 1.8 years old. |
The current market capitalization for Frax Share is $292,411,123.
Frax Share is ranked #115, by market cap (and other factors). |
There is a big volume of trading today on #FXS.
Today's 24-hour trading volume across all exchanges for Frax Share is $3,184,420. |
| The circulating supply of FXS is 70,181,855 coins, which is 70% of the total coin supply. |
Frax Finance Monthly Report #19 | September 2022.
A round-up of Frax Finance updates in a few minutes. — Project Updates: - 1)[Fraxlend]: Fraxlend was launched on the Ethereum network. Users can borrow FRAX with WBTC and WETH as collateral. Fraxlend will create more cash flow for Frax Finance, which can be used to buy back FXS from the market then distributed to veFXS stakers as yield. 2)[Tracking]: DefiLlama added $FPI coin on their stablecoins dashboard. Users can now track FPI coin on DefiLlama stablecoins dashboard. 3)[Stable Pool]: $USDD — $FRAX — $USDC stable pool was on Balancer Labs. Users can now participate in the $USDD-$FRAX-$USDC stable pool on Balancer Labs. 4)[Twitter Space]: Sam Kazemian, Frax Finance co-founder was hosted on Blockworks Twitter Space by Pibblez and Dan Smith to discuss the upcoming Fraxlend, FraxETH and more. You can listen to the discussion here. 5)[Security Audit]: Code4rena launched a $50,000 code audit contest. Users will be contesting on the code audit to help to secure the upcoming Fraxlend. Bugs can be submitted here. 6)[Euler]: FPIS was added to Euler. Users can now borrow or lend their FPIS tokens on Euler. 7)[Exchange]: FRAX was listed on Bitrue spot trading. Users can deposit and trade their FRAX Bitrue Exchange. 8)[Pools]: IQ, PitchFXS, SYN & FRAXBP pools were added to the Convex. 9)[Bridge]: $FRAX & $FXS on Dogechain Network was added on the multichain bridge. Users can transfer their $FRAX & $FXS to Dogechain Network from Ethereum via Multichain router. 10)[Pools]: IQ, PitchFXS, SYN, FRAXBP, SUSD, LUSD, APEUSD, GUSD, BUSD, ALUSD, USDD & TUSD pools were added on the Convex. Additionally, FRAX / FPIS, FRAX / FXS, FRAX / OHM, & FRAX / ZZ pools were added to Fraxswap. 11)[Concentrator]: aFXS compounding strategy backed by cvxfxs/fxs LP was launched by Concentrator. Users can compound their FXS yield with Concentrator. 12)[Pool]: Old FXS/ FRAX pool on uniswap was unwinded as per the proposal, liquidity providers were advised to remove and withdraw their LPs. Users can add their FRAX/FXS LP on Fraxswap, then stake FRAX/FXS on new Fraxswap. — About Frax Finance - Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Frax Finance Monthly Report #18 | August 2022.
A round-up of Frax Finance updates in a few minutes. — Project Updates: - 1)[Partnership]: Gamma partnered with Frax Finance and Convex Finance to manage the FPI-FRAX Uniswap v3 pool on Optimism. Liquidity providers will be able to stake their LP positions on Convex Finance to earn boosted FXS rewards. 2)[Update]: The team discovered a weight-related issue in the FRAX/IQ and FRAX/pitchFXS farms on Fraxswap and a fix was carried out. The fixed versions of the Fraxswap FRAX/IQ and FRAX/pitchFXS gauge farms were deployed and they are marked as V3. Liquidity providers were advised to migrate their LP to the new farms and revote for the V3 versions only. The old pool rewards were stopped and the new pool rewards were started. 3)[Research Report]: A research report on TWAMM was written by a community member. The report covers how TWAMM is a revolutionary concept and Fraxswap is the first AMM designed from scratch with TWAMMs. Read details here. 4)[Collateral]: Sturdy, a protocol for interest-free borrowing and high yield lending added FRAXBP LP tokens as collateral. Users can use their FRAXBP LP tokens as collateral for interest-free borrowing on Sturdy. They can deposit FRAXBP and earn up to 29% APY on their stablecoins which is paid out in CRV with leverage. 5)[Flywheel]: Flywheel released a research piece which focused on FRAX’s unique floating collateralization ratio (CR). Read the article here. 6)[Vault]: Frax vault was added on Optimism by Beefy Finance. Users can get their FXS + FRAX LP on Frax Vault with some juicy APY. 7)[Research Report]: Tail Maeda released a detailed research report on FRAX & FXS on his YouTube channel. Listen to the report here. 8)[Fraximalist Meet]: Frax supporters normally known as Fraximalist met at EthCC, 24 Rue Saint-Victor, 75005, Paris, France. Frax customized Sweatpants were given to some Fraximalists who answered Frax trivia questions correctly. You can watch some of the Fraximalists here. 9)[Fraxlend]: Drake Evans joined the episode of Flywheel to break down everything you need to know about the upcoming launch of Fraxlend and why he thinks Fraxlend is so important for Frax Finance. Watch the podcast here. 10)[Cointelegraph]: Sam Kazemian, co-founder Frax Finance had an interview with the cointelegraph where he shared the need for stablecoin projects to collaborate, and not competing. Stablecoin projects need to take a more collaborative approach to grow each other’s liquidity and the ecosystem as a whole, says Sam Kazemian. Read here for more details. 11)[Analytic Platform]: Treehouse, a comprehensive DeFi portfolio analytics platform added Frax Finance. Users can track their assets on Harvest Treehouse. 12)[FraxBasePool Vault]: Concentrator, a yield enhancer that boosts yields on Convex vaults integrated FraxBasePool vaults. Farmers can have their yields enhanced while earning Concentrator tokens during the initial farm offering. — About Frax Finance - Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Guide: How to create a new pool (pair) on Fraxswap.
In this guide we will explain how to create a new pool (pair) on Fraxswap., — 1- How to create a new pool (pair) on Fraxswap? - The pool creation on Fraxswap requires having two currencies in your wallet and ETH (or any native token of the chain you will be creating the new pool) to cover the gas fees. In this guide, we will be creating a new pool (pair) using FRAX & FVT tokens on the Ethereum network., You’ll need to have the both tokens you want to create their pool pair and also have the “smart contract address” of the new token you want to create the pool., — Step -1 - Head to Fraxswap pool via the link: app.frax.finance, You will arrive at the following page, then connect your metamask wallet., After connecting your metamask wallet, you will need to click on “FXS”, — Step -2 - You will arrive here, then add the “smart contract address” of the token you want to create the pool pair for., We will be entering the “FVT” contract address here., Now “FVT contract address” has been entered here, click on “ADD”, — Step -3 - “FVT” is now added to the list. We will proceed with creating the pool pair., Select “FRAX & FVT”., — Step -4 - Enter the amount of “FVT tokens per FRAX”. We will be using 1451 FVT per 1 FRAX., Then click “Supply”., (NOTE: It is recommended to use enough gas fees to execute the transactions). A MetaMask transaction will pop-up to approve your spendings., Click “Confirm” ., A processing transaction will pop-up, wait for the processing transaction to be completed., Another MetaMask transaction will pop-up., Click “Confirm” ., A processing transaction will pop-up, wait for the processing transaction to be completed., Another MetaMask transaction will pop-up, which is the final transaction., Click “Confirm”., Wait for the transaction to be completed, after waiting for the transaction to be completed. Your pool pair will be created., Congratulations, you have successfully created your new pool (pair), you should now be able to start trading the token you created the pool on Fraxswap!, (NOTE: your newly created pool pair can only display to you and it will be displayed to others if the team whitelist the pool pair). — About Frax Finance - Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX : is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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How to add liquidity to FRAX-IQ pool on Fraxswap.
In this guide we will explain how to add liquidity to FRAX0IQ pool on Fraxswap. 1- How to buy FRAX & IQ Tokens?Connect your MetaMask extension to Fraxswap then purchase the desired amount of FRAX and IQ using the link below: https://app.frax.finance/swap/main (NOTE: you will need equal dollar value of both FRAX and IQ, for example if you want to add 100 FRAX you will need 100$ worth of IQ). 2- How to add liquidity to the Frax-IQ pool on Fraxswap ?Step 1Now that you hold both FRAX and IQ in your wallet, you will need to add liquidity. Head to Fraxswap FRAX-IQ add liquidity link: https://app.frax.finance/swap/liquidity You will arrive at the following page: Step 2 Write the amount of FRAX you want to add to the liquidity pool, Fraxswap will automatically calculate the equivalent IQ that needs to be added.Step 3Click “Supply” . (NOTE: It is recommended to use enough gas fees to execute the transaction) A MetaMask transaction will pop-up to approve your spendings. Click “Confirm” .Another MetaMask transaction will pop-up to add liquidity.Click “Confirm”. Step 4 After waiting for the transaction to be completed, you will receive FRAX-IQ LP tokens, and Fraxswap will display your liquidity status here: Step 5 (Staking) Head to FRAX-IQ staking page: https://app.frax.finance/staking/fraxswap-frax-iq-v3 You will arrive at this page: Now your LP tokens should appear in the Staking area, click “MAX” to add them, according to personal preference, select the lock-up period and click “Stake”.A MetaMask transaction will pop up to approve your Fraxswap LP token spending, and another MetaMask transaction to Stake them, Confirm the transactions. Congratulations, you have successfully provided liquidity, you should now be able to start receiving FXS & IQ rewards!About IQ The IQ token is a DeFi, NFT, and Oracle token centered around bridging the real world and the Metaverse through BrainDAO. BrainDAO will use the IQ Token to fund the future of knowledge on the blockchain. The IQ token is multichain available on Ethereum, Binance Smart Chain, Polygon, Klaytn, and EOS. The IQ token was first launched in 2018 and powers the Everipedia encyclopedia, the decentralized prediction market PredIQt, the first-party oracle service Everipedia OraQles, and the staking platform HiIQ. Twitter | Everipedia | IQ Dashboard | Reddit | Discord | Telegram | Governance | GithubAbout Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX : is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Frax Finance Monthly Report #17 | July 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Collateral]: Perpetual Protocol added Frax as collateral. Users can deposit Frax stablecoin as collateral to trade and market-make on https://app.perp.com/ 2)[Twitter Space]: Token pocket hosted Frax finance, together with Conflux Network and Dopex on Twitter Space to discuss bear market survival guides and how users can control risks and protect their assets. 3)[Proposal]: A proposal to use $20M protocol-owned $FRAX to Buyback $FXS using Fraxswap was passed. The Buyback will happen using Fraxswap FRAX-FXS TWAMM pair over a period of minimum of 3 days or up to 30+ days. 4)[Liquidity]: FXS was added to Bancor. Bancor provided single-sided liquidity with an impermanent loss protection and auto-compounding returns. Users can deposit their $FXS on https://home.bancor.network/ 5)[Dex Aggregator]: Fraxswap was added on 1inch, A Dex aggregator with the most liquidity and the best rates on Ethereum, Binance Smart Chain, Optimism, Polygon, etc. Users will be able to trade on Fraxswap via 1inch. 6)[StellaSwap Basepool]: StellaSwap Basepool which supports $FRAX + $USDC + $USDT + $DAI went live on Moonbeam Network. Users can trade their $FRAX on Moonbeam Network with low fees, and can also stake on StellaSwap and earn dual rewards for staking. 7)[FRAX/USDC Basepool — Curve]: FRAX/USDC Basepool proposal, a proposal to add FRAX/USDC as a base pool to the stableswap factory on Curve Finance went live on Curve Finance and the proposal was passed through DAO voting. The FRAX/USDC Basepool is live and gauged on Curve Finance. A few metapools for it, such as sUSD, BUSD, GUSD, and LUSD were seeded by the Frax team. We are working on getting metapool gauges for these. 8)[FRAX/USDC Basepool — Saddle]: Saddle Finance also added the FRAX/USDC Basepool, along with sUSD, alUSD, and a few other metapools for it. They will be eligible for SDL gauge rewards. The Frax team seeded some of these and they will earn yield for the protocol. 9)[Everipedia]: The Fraxswap FRAX/IQ gauge farm went live. 10)[Pitch Money]: PitchFXS/FRAX gauge farm went live on Fraxswap. Users can stake their $FXS directly on Pitch Money. 11)[Exchange]: $FXS was listed on BitMart Exchange with FXS/USDC trading pairs. Users can deposit and trade their $FXS on BitMart Exchange. 12)[Concentrator]: FRAXUSDC vault was added on Concentrator. The compounder will increase the APY. Users can deposit their FRAX on Concentrator.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Frax Finance Monthly Report #16 | June 2022
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Liquidity Pool]: Ape Finance launched ApeUSD+FRAX pool on Curve Finance to help to maintain ApeUSD’s peg to the USD. Liquidity providers that deposit into the pool will earn APEFI and FRX tokens. Also ApeUSD-FRAX pool was launched on Uniswap to help to improve the routing across ApeUSD-FRAX liquidity between Curve and Uniswap liquidity pools. 2)[Twitter Space]: iZUMi Finance hosted the Frax team on their Twitter Space to discuss the stablecoins and upcoming bear market. 3)[Farming]: FRAX/SUSHI farm was stopped and unlocked per governance vote. The pool was removed from the gauge due to the low TVL and this essentially allows stable pools and other FRAX/FXS/FPI/FPIS-focused pools to gain more rewards. Users are able to withdraw their token. 4)[Staking Boost]: Convex launched a boosted Frax staking for the following pools: Vesper Orbit FRAX, aFRAX, and FPI/FRAX. Frax LPs stakers can enjoy socialized and simplified boosting mechanics for their LP positions when staked on Convex Finance. 5)[Update]: We migrated the Fraxswap TWAMMs to the post-audit code and new pools with increased liquidity were launched. Also a new frontend will be deployed shortly. Moonbeam will be the first non-Ethereum chain to be seeded with POL 6)[Farming]: FRAX-IQ pool was unlocked and transferred to the FXS gauge system as per the governance vote. The LP was unlocked and stakers are able to withdraw their token from the FRAX-IQ pool. 7)[Exchange]: FRAX was listed on Poloniex Exchange under the FRAX/USDD and FRAX/USDT trading pairs. Users can deposit and trade their FRAX against the supported pairs on Poloniex. 8)[Partnership]: Velodrome, the central trading and liquidity marketplace on optimism partnered with Frax Finance. The partnership will allow Frax Finance to receive a veNFT representing ~1% of initial voting power and $FRAX + $FXS will be available to trade on Day 1 of Velodrome launch. 9)[Farming]: D4 Saddle pool staking was removed and the reward was moved into the gauge system as per the governance vote. The pool was unlocked and stakers were able to withdraw their token. 10)[Leverage]: $FXS was added to margin trading on crypto.com under $FXS/USDT leveraged pairs. Users can trade $FXS with up to 10x leverage on crypto.com. 11)[Exchange]: FRAX was listed on Hoo.com Exchange under the FRAX/USDT trading pair. Users can deposit and trade their FRAX against FRAX/USDT pairs on Hoo.com. 12)[4pool]: Zenlink, a hybrid cross-chain DEX protocol based on Polkadot launched its 4pool which supported $USDT, $USDC, $xcAUSD, & $FRAX. Users can deposit FRAX and start farming. 13)[Curve]: The FRAX / 3pool balance has returned back to under 50/50, strengthening the peg even further and adding a larger buffer in volatile market conditions.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Frax Finance Weekly Report #15 | May 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Exchange]: Both $FRAX & $FXS went live on OpenOcean to swap on multiple chains. Users can trade their $FXS & $FRAX on any of their favorite chains at best rates on https://openocean.finance/ 2)[Pool]: The Alternative Pool went live on Platypus which included $FRAX. Users can use its profitable dynamism, either for swapping or staking on the Platypus app. 3)[Poll]: Frax made it to the top result of the Bankless poll, to choose which project to cover on their next Alpha Leak episodes. 4)[Collateral]: Frax is exploring real-world loans as a hedge against crypto market downturns in order to maintain FRAX’s peg during a bear market. 5)[FPI & FRAXSWAP]: FPI and Fraxswap were launched, with a mint cap which was set at 15m FPI and was later increased to 20m FPI. veFXS, cvxFXS tFXS & FXS-FRAX holders during snapshot were able to claim their FPIs airdrop. Convex also provided a portal for the cvxFXS holders to claim their airdrop. FPI and FPIs were listed on coingecko! Guide on how to Mint/Redeem FPI Stablecoin and how to use AMM/TWAMM on FraxSwap 6)[Zk Privacy]: An experimental version of Tornado Cash purpose-built for the FRAX ecosystem by Twister Cash. 7)[Hidden Hand]: Hidden Hand v2 went live on mainnet by Redacted which includes FRAX. Frax Finance, Ribbon Finance and Balancer were hosted on Twitter Space to discuss the Hidden Hand. Also the first set of bribes were added, users who vote for the Curve vst:frax pool on the upcoming Frax gauge vote will be eligible to claim VSTA rewards here. 8)[Marketing]: Sam Kazemian, co-founder Frax Finance was hosted by Bankless, where he discussed stablecoins wars, in which different pools compete liquidity and composability in DeFi. Watch the video here. 9)[Curve Wars]: Frax Finance pitches over $250,000 to all those veCRV voters who support the Fantom 4Pool. 10)[Liquidity]: FRAX + BUSD liquidity pool was added to OpenOcean on the BSC network. Users can trade their BSC $FRAX+$BUSD on OpenOcean. 11)[4pool]: The Curve-based yield farm 4pool, backed by Frax and Terra, went live on Ethereum, Fantom, Arbitrum, Optimism and Avalanche. 12)[Proposal]: A proposal to introduce BTC backing to FRAX, accelerate FRAX’s yield influence and support the growth of 4pool on Curve was passed. Citadel will create deep liquidity for BTC/4 Pool on Curve, also will become a long term locker of FXS and gauge system supporter. 13)[Proposal]: A proposal to add 3 pools “sdCRV/CRV, sdFXS/FXS and sdANGLE/ANGLE’’ pools to the gauge controller was passed. CRV/FXS/ANGLE holders depositing into liquid lockers will receive sdCRV/sdFXS/sdANGLE that can either be staked into a reward contract to receive several sources of yield while keeping the voting power and a liquid position, or deposit them in the associated strategy (sdCRV/CRV — sdFXS/FXS and sdANGLE/ANGLE Curve LP). 14)[Podcast]: KingMaker hosted Sam Kazemian, co-founder Frax Finance on its twitter space for a podcast. You can listen to the podcast here. 15)[Partnership]: SmartCredit, a DeFi borrowing/lending platform focusing on fixed-interest and fixed-term loans and DeFi fixed-income funds partnered with Frax Finance to allow users to borrow/lend their Frax with fixed rate. Users can borrow/lend FRAX stablecoins via SmartCredit.io with fixed-income funds. 16)[Collaboration]: Frax stablecoin was launched on Yield Protocol as a borrowable asset. Users can bootstrap liquidity and earn variable yield by becoming a liquidity provider for Frax, earn a fixed rate on Frax by lending it for a fixed term and borrow Frax by providing acceptable collateral (ETH, WBTC, LINK, UNI, wstETH, ENS, and more) 17)[Proposal]: OlympusDAO submitted a proposal to open a liquidity pool on Fraxswap to enable TWAMMs, strengthen alignment with Frax, and prepare for Atlantis. 18)[Proposal]: Retrograde partnered with Frax Finance to bring the first FRAX tokens to Terra. 19)[Collaboration]: Pickle collaborated with Frax Finance to launch their Brinery to facilitate veFXS locking/liquidity and boost FXS rewards for FRAX LP farming. FXS holders can deposit their FXS in the Brinery, and in return receive pveFXS which gives a perpetual claim on Frax’s protocol revenue. And to accompany their Frax Brinery they released two auto-rebalancing Univ3 LP Jars (FRAX/DAI & FRAX/USDC). 10% of the Jars FXS rewards are directed to pveFXS holders, further boosting their FXS rewards. 20)[Collaboration]: WarpBond adopted Frax on their platform. Users can use $FRAX to buy ship parts and also buy WARP Bonds at 35% discount. 21)[Liquidity Pool]: FRAX/ARTH.usd Pool went live on Curve Finance. Users can stake ARTH / FRAX on mahadao.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Guide : How to use AMM/TWAMM on FraxSwap.
Guide : How to use AMM/TWAMM on FraxSwap. In this guide we will explain how to use FraxSwap AMM/TWAMM functions. 1- How to buy FRAX & FPI Stablecoins? Connect your MetaMask extension to UNISWAP then purchase the desired amount of FRAX or FPI using the link below: https://info.uniswap.org- How to swap your tokens using AMM on FraxSwap? Head to FraxSwap main page here https://app.frax.finance/fraxswap and connect your MetaMask: You will arrive at this page: Now you have connected your MetaMask wallet:Click on “AMM”: Click on “Select Token”:Here we will be selecting FRAX:Select the token of your choice you will like to swap with FRAX.Here we will be swapping FRAX for FPI:Enter your desired amount of FRAX you will like to swap for FPI:Click on “SWAP”:A MetaMask transaction will pop-up to approve your spending.Click on “Confirm”:Another MetaMask transaction will pop-up.Click on “Confirm”:A “Processing Swap” notification will appear, wait for your transaction to be processed.Congratulations you have successfully swapped your FRAX for FPI.3- How to swap your token using TWAMM on FraxSwap?Head to FraxSwap main page here https://app.frax.finance/fraxswap and connect your MetaMask. You will arrive at this page:Click on “TWAMM”:Here we will be swapping FPI for FRAX.Enter your desired amount of FPI you want to Swap with “TWAMM” function:Click to select your desired “Swap Period”. (Note: If you want to average in, or slowly exit a position, choose a longer period).Click on “SWAP”:A MetaMask transaction will pop-up to approve your spending.Click on “Confirm”:Another MetaMask transaction will pop-up.Click on “Confirm”:A “Processing Swap” notification will appear, wait for your transaction to be processed.Congratulations you have successfully swapped your FPI for FRAX using the TWAMM function.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX : is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Discord | Twitter | Github
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Guide : How to Mint/Redeem FPI Stablecoin on FraxSwap.
Guide : How to Mint/Redeem FPI Stablecoin on FraxSwap. In this guide we will explain how to use FraxSwap Mint/Redeem FPI functions.1- How to buy FRAX & FPI Stablecoins?Connect your MetaMask extension to UNISWAP then purchase the desired amount of FRAX or FPI using the link below: https://info.uniswap.org/#/pools/0xd2a9f2b88d6df8830522d624db491445362a27972- How to use the Mint FPI Function on FraxSwap?Now you have FRAX in your MetaMask you will need to Mint FPI.Head to FraxSwap main page here and connect your MetaMask : https://app.frax.finance/fraxswapYou will arrive at this page :Click “Mint FPI”.Choose the amount of FRAX you want to use to mint FPI.Click “MINT”.A MetaMask transaction will pop-up to approve your spending “Confirm” it.Another a MetaMask transaction will pop-up “confirm” it.Congratulations you have successfully Minted FPI stablecoin.3- How to use the Redeem FPI Function on FraxSwap?Now you have FPI in your MetaMask you will need to Redeem it.Head to FraxSwap main page here and connect your MetaMask : https://app.frax.finance/fraxswapYou will arrive at this page :Click “Redeem FPI”.Choose the amount of FPI you want Redeem.Click “REDEEM”.A MetaMask transaction will pop-up to approve your spending “Confirm” it.Another a MetaMask transaction will pop-up to redeem your FPI “confirm” it.Congratulations you have successfully Redeemed FPI stablecoin.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX : is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) : is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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Frax Finance Weekly Report #14 | April 2022.
A round-up of Frax Finance updates in a few minutes.Project Updates: 1)[Code Review]: We entered into the upcoming Frax Price Index (FPI), Fraxswap and Fraxlend code review. We released the FPI & FPIS, FraxSwap/TWAMM, FPIControllerAMO (used to stabilize the FPI peg to the CPI oracle) and CPITrackerOracle codes for the community to investigate them. 2)[Partnership]: SynFutures Partners with Frax Finance to Expand Trading Opportunities. Frax Finance will bring liquidity for $FRAX trading pairs to SynFutures protocol and contribute to a Matic-Frax pool on Polygon. 3)[Exchange]: $FXS was listed on DigiFinex exchange. Users can register and trade their FXS token on DigiFinex exchange 4)[Collaboration]: Citadel DAO, a treasury DAO set on becoming the largest community owned BTC position in the world, announced Frax Finance as one of their knight of Citadel. 5)[Partnership]: Concave officially partnered with Frax Finance. Concave adopted $FRAX as one of its treasury assets, also users can use $FRAX to purchase bonds. The Frax and Concave team had a dedicated AMA on Monday, 28th March, 11am EST. 6)[Staking]: StakeDAO launched their Liquid Lockers + veSDT. Users can deposit their $FXS token in the Liquid Lockers to unlock the voting power of the underlying veTOKEN like veFXS. 7)[Exchange]: FTX exchange listed $FXS token on its spot and perpetual futures! Users can deposit and trade their $FXS on FTX exchange. 8)[Exchange]: $FXS token was listed on Kraken Exchange. Users can deposit and trade their $FXS on FTX exchange. 9)[Exchange]: $FXS and $FRAX token was listed on Gemini for trading on their API/FIX and ActiveTrader applications for USD trading pairs, and on the Gemini Mobile App and website for USD, GBP, EUR, and CAD pairs. 10)[Podcast]: Sam Kazemian, co-founder Frax Finance joined Kirk, co-founder Volt Protocol to discuss how Stablecoins will reach $1 Trillion + Marketcaps and how they’ll beat inflation for good. Listen here: Spotify, Podcasts and YouTube. 11)[Pool]: Platypus will support $FRAX in their alternative pool that will be launched on 6th April. Alternative Pool will help to bring in more stablecoin options for their users. 12)[Proposal]: A proposal to introduce 4pool was passed. The 4pool is the new gold standard for stablecoin liquidity, bridging the gap between decentralized and centralized stables. The 4pool is a new curve pool composed of UST, FRAX, USDC, and USDT.About Frax Finance Frax is the first and only stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The stablecoin (FRAX) is named after the “fractional-algorithmic” stability mechanism. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio. FRAX: is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS): is the governance token which accrues fees, seigniorage revenue, and excess collateral value. Website | Docs | Telegram | Twitter | Discord | Governance | Github
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 | ViaBTC Capital?The Collapse of LUNA
Timeline of the Collapse:
-In the early morning of May 8, to prepare for the 4Crv Pool, Luna Foundation Guard (LFG), a Singapore-based non-profit that maintains the Terra network, removed $150 million worth of UST from the UST-3Crv Pool. At this time, the TVL of the pool was around $700 million. In other words, it cost only about $300 million to drain this pool.
- To keep the balance of liquidity in the UST-3Crv Pool, LFG removed another $100 million worth of UST from the pool.
- On the evening of May 8, WhaleTrades, a whale alert account on Twitter, began to “ring alarm bells” frantically: there was a tweet of selling millions of dollars’ worth of UST every hour.
- On the morning of May 10, Jump Trading and LFG may have sensed the problem and stopped selling their Bitcoin holdings to provide support for UST’s peg, letting things drift. As a result, UST plummeted all the way to $0.6.
- On May 11, UST seemed to be shorted by Soros-style short sellers, and has plummeted to a minimum of $0.2998 (source: CMC) after rounds of underselling.
It was a terrifying day on May 11: there seemed to be short sellers deliberately shorting UST and LUNA:
- While liquidity is being withdrawn from the UST-3Crv Pool as reserves for the 4Crv Pool, a single wallet dumped $350 million worth of UST on Curve, making UST lose its peg to the US dollar. In response, LFG sold BTC to keep the peg, and then the short seller dumped the rest UST on Binance.
- UST was seriously depeg...
|  | Crypto Markets Add $130 Billion Overnight, Bitcoin Skyrockets to $42K (M...
Following a few-day period of declines and choppy price action, the cryptocurrency markets finally showed some strength and recovered some of the losses. This happens on the back of Bitcoin's surge to $42K.
Bitcoin Price Soars to $42K
As CryptoPotato reported earlier today, there was a press release leaked on the US Treasury Department's website, which revealed some of the information on President Biden's executive administrative order on cryptocurrencies.
One of the excerpts read that:
President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses.
Bitcoin's price needed nothing else to soar during Europe's early hours trading session and surged above $40,000 to reach $42.1K, where it's currently trading. This also enabled the total cryptocurrency market cap to add about $130 billion overnight. At the time of this writing, BTC's price charts an increase of 8.2% in the past 24 hours alone.
Source: TradingView
Altcoins Follow Suit
As it's almost always the case, altcoins followed Bitcoin's price and also charted impressive gains.
Source: Quantify Crypto
As seen in the above heatmap, the entire market is painted green. Ethereum is up about 7%, XRP - 4.2%, SOL - 6.3%, and so forth.
Undoubtedly, LUNA is the biggest winner from the top 10 as it managed to add almost 20% to its v...
|  | Market Watch: Bitcoin Plummets to a 2-Week Low at $38K
Bitcoin's troubles only intensified in the past 24 hours as the asset dropped by a few thousand dollars again to a 16-day low of $38,000. The altcoins are deep in the red as well, with Ethereum at $2,600, Cardano well below $1, and AVAX beneath $80.
Bitcoin Dumps Again
It's safe to say that bitcoin has seen better days which weren't all that long ago. Just on Tuesday and Wednesday, the cryptocurrency recovered from its latest dump to $42,000 and jumped to nearly $45,000.
However, it failed to continue upwards as the bears came out to play. In a matter of hours, they pushed the asset south, and BTC found itself struggling to remain above $40,000.
Although initially it managed to maintain that level, the bears kept the pressure on and drove it below it for the first time since early February, as reported yesterday. The landscape worsened in the following hours, and bitcoin dropped to just over $38,000, which became the new lowest two-week price point.
As such, bitcoin's market capitalization has declined to $725 billion after nearing $850 billion days ago.
BTCUSD. Source: TradingView
Altcoins Bleed Out
The alternative coins suffered yesterday, and the trend continues today. Ethereum has dropped by another 6.5% on a daily scale and struggles to remain above $2,600. It's worth noting that the second-largest cryptocurrency stood above $3,200 earlier this week.
The situation with the rest of the larger-cap alts is somewhat similar. Binance Coin has slipped below $380 after a 6.5% d...
|  | Crypto Markets Lose $100 Billion Daily as Bitcoin Dips Below $42K (Marke...
Bitcoin’s adverse price movements continue with the asset sliding below $42,000. Most of the altcoin space is in an even more gloomy situation, with substantial losses from Ethereum, Binance Coin, Avalanche, MATIC, LUNA, ATOM, and others.
BTC Slips Below $42K
It’s safe to say that the past several days didn’t go all that well for the primary cryptocurrency. On January 15th, it spiked to just shy of $44,000 after an impressive leg up.
However, it failed to breach that level as the bears tightened their grip on the market. BTC first dropped to $43,000 hours later, before another price dump took it to around $42,000, as reported yesterday.
While bitcoin remained there for a while, and it seemed that it could hold on to that level, the bears pushed it south once more. In the following hours, BTC dropped to around $41,500, which was a weekly low.
It bounced off initially to above $42,000 but failed again and currently sits around that level. As a result, its market capitalization has declined below $800 billion.
BTCUSD. Source: TradingView
Altcoins in Red Again
The alternative coins were also harmed in the past several days. Ethereum traded above $3,400 last week before the market-wide correction started to drive it south. In the past 24 hours alone, ETH has lost more than 4% and now sits at just over $3,100.
Binance Coin has declined by a similar percentage and struggles to remain above $460. More losses come from Cardano, Solana, Ripple, Dogecoin, Avalanche, Sh...
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