What is Frax Shares?
Frax Shares (FXS) is the governance token for Frax Finance.
Frax Shares (FXS) is the governance and utility token for the Frax Finance ecosystem. It's an important piece of the puzzle in maintaining the ecosystem's stability and offering various benefits to holders.
Key Points:
- Non-stable token: Unlike FRAX, the platform's stablecoin, FXS has a volatile price.
- Governance: FXS holders can participate in proposing and voting on changes to the Frax protocol through staking their tokens as veFXS.
- Fees: A portion of fees generated by the protocol are distributed to FXS stakers in veFXS.
Resources for further exploration: