What is Frax?

Frax is a decentralized stablecoin protocol that aims to provide a scalable and decentralized stable currency for the cryptocurrency ecosystem. It uses a fractional-algorithmic model to stabilize its value and is designed to be efficient, scalable, and censorship-resistant.

Which are some of Frax key features?

Key features of Frax include:

How does Frax work?

Frax works by using a combination of on-chain and off-chain mechanisms to stabilize its value against the USD. It adjusts the supply of Frax tokens based on market demand and uses collateral to back its value. Frax also incorporates community governance to ensure its stability and adaptability.