Frax Share (FXS) is the native token of Frax Protocol, the first fractional-algorithmic stablecoin system in history. It is performing splendidly, up 24% today alone.
If you want to know more details about Frax Share, if it’s worth investing in, and the top places to buy it now, you’ve come to the right place.
Top places to buy Frax Share now
As FXS is such a new asset, it’s yet to be listed on major exchanges. You can still purchase FXS using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy FXS right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for FXS
Now that you’re connected, you’ll be able to swap for 100s of coins including FXS.
What is Frax Share?
Frax is open-source, permissionless, and entirely on-chain, currently implemented on Ethereum. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
The protocol incorporates the concept of fractional algorithm. Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.
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.
It is community governed and emphasizes a highly autonomous, algorithmic approach with no active management.
Should I buy Frax Share today?
Frax Share can be a lucrative investment, but it’s important to read at least several price predictions and take all investment advice with a grain of salt.
Frax Share price prediction
Price Prediction forecasts the price of Frax Share will be at least $35 in 2023. The Frax Share price can reach a maximum level of $43.24 with the average price of $35.90 throughout 2023.
In 2024, they predict the price of Frax Share will be at a minimum of $49.23. It can go up to as much as $60.63. The next year, 1 FXS will trade for at least $70.00.
Frax Share on social media
Small #Crypto (by mkt cap)#NEM $0.12(⇑2.5%)#Pax Dollar $1.0(⇑0.13%)#Frax Share $29.91(⇑2.6%)#Compound $174.94(⇑1.04%)#Huobi BTC $43255.63(⇑2.08%)#Gatechain $7.15(⇑1.14%)#SafeMoon V $0.0(⇓1.24%)https://t.co/vl4PEew7Gt
— Raj Agrawal (@Agrawal_Raj) January 20, 2022