What is Frax Share?
Frax Protocol is the first stable coin system with a fractional algorithm. The system is open source and requires no permissions and is fully networked - currently implemented on Ethereum (with possible crosschain implementations in the future). The ultimate goal of the Frax protocol is to provide highly scalable, decentralized, algorithmic money instead of fixed supply digital assets like BTC. Frax Shares (FXS) is a management token on which commissions, senorage income, and excess collateral value are charged. FXS is an unstable value accrual token in the protocol. It must be unstable and have the rights to manage and provide surplus to the system. It is important to note that the authors of the project take a minimal management approach to the development of unreliable money. Developers avoid active community management, such as in DAO, or such as in MakerDAO. The fewer parameters the community can actively manage, the less controversy remains.Frax Share Website