Frax (prev. FXS) (FRAX) Price

$0.62

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Frax (prev. FXS) (FRAX) Price Today

The live price of Frax (prev. FXS) is 0.62 USD. In the past 24 hours, the trading volume of Frax (prev. FXS) was 4,119,521.84 USD, down by -1.07%. The current price has decreased by -16.16% from its 7-day high of 42.80 USD, and increased by 0.60% from its 7-day low of 0.61 USD. With a circulating supply of 99,681,495.59 Frax (prev. FXS), the market cap of Frax (prev. FXS) is currently 241,423,037.00 USD, down by 0% in the last 24 hours. Frax (prev. FXS) currently ranks #618 by market capitalization among cryptocurrencies.

Frax (prev. FXS) (FRAX) Market Data

Market Cap

$55.5M

24h Volume

$4.1M

Circulating Supply

87.9M FRAX

Maximum Supply

99.6M FRAX

Fully Diluted Market Cap

$62.9M

Liquidity Indicator

7.41%

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FAQ

About Frax (prev. FXS) (FRAX)

How can I buy Frax (prev. FXS) (FRAX)?

You can buy Frax (prev. FXS) (FRAX) on supported CEXs, DEXs, or crypto wallets, although it is not yet listed on BingX. See our How to Buy Frax (prev. FXS) guide for details. Sign up with BingX to trade FRAX first when it goes live.

What Is Frax (FRAX) and How Does It Work?

Frax (FRAX) is the native commodity asset of the Fraxtal blockchain, designed to function as the network’s base money and primary unit of value. Unlike traditional stablecoins, FRAX is not pegged to fiat and is not a governance token. Instead, it operates as the native gas token used to pay transaction fees and secure the Fraxtal network. FRAX has a fixed and transparent emission schedule, making it a scarce digital asset rather than an inflationary stablecoin.

The Frax ecosystem uses FRAX as its core economic primitive. While FRAX itself is not a governance token, it can be staked into veFRAX, which grants governance rights and protocol incentives across the Frax DeFi ecosystem. This design allows FRAX to function as a base-layer asset similar to ETH on Ethereum, supporting smart contracts, DeFi applications, and network security, while maintaining a clear separation between asset ownership and governance mechanics. FRAX is issued natively on the Fraxtal blockchain, with wrapped versions (WFRAX) available for cross-chain use.

FRAX also features a deflationary and sustainability-focused economic model. The protocol includes a Frax Burn Engine (FBE), which permanently removes FRAX from circulation through on-chain economic activity, and a controlled tail-emission schedule that gradually reduces inflation over time. Together with its role as gas, staking collateral, and a base asset for DeFi protocols, FRAX is designed to function as a long-term, commodity-style digital money within the expanding Frax ecosystem.

When Did Frax Finance Launch?

Frax Finance was founded in 2019 by Sam Kazemian along with early collaborators Jason Huan and Travis Moore, with the vision of creating a scalable, decentralized stablecoin system that combined collateralized and algorithmic features to maintain price stability. After months of development and testnet work, the protocol officially launched on the Ethereum mainnet on December 20, 2020, introducing FRAX as one of the first fractional-algorithmic stablecoins in the DeFi space and rapidly attracting significant on-chain liquidity and community interest.

Frax Roadmap

• May 2019: Project conception and early development begins under the name “Decentral Bank.”

• December 20, 2020: Frax Finance mainnet launch on Ethereum.

• 2021–2023: Expansion of ecosystem, including AMOs (Algorithmic Market Operations) and integrations with DeFi protocols.

• April 28, 2025: Major upgrade allowing FXS to FRAX 1:1 token migration to native Fraxtal chain.

• 2025: Continued ecosystem growth with new assets, e.g., frxUSD stablecoin, and Fraxtal chain utility enhancements.

What Is the FRAX Token Utility?

The FRAX token serves as the scarce commodity asset and native gas token of the Fraxtal blockchain, acting as the base monetary unit used to pay transaction fees and support network operations. It also provides cryptoeconomic security and can be restaked into veFRAX, which is used for governance participation and voting on key parameter adjustments across Frax Finance DeFi protocols, similar to how restaked assets power other ecosystems. FRAX’s utility extends to being integrated into DeFi contracts and infrastructure that leverage its economic properties without giving those protocols direct control over the FRAX supply itself.

To trade FRAX tokens on the BingX spot market, simply log in to your BingX account, go to the Spot trading section, select the FRAX/USDT trading pair, and choose your order type (market or limit) to buy or sell. BingX provides a user-friendly interface where you can place, track, and manage your trades with live price data and order execution tools.

What Is the Difference Between FRAX and FXS?

FRAX and FXS serve different but complementary roles within the Frax ecosystem. FRAX is the core commodity asset of the Fraxtal blockchain and functions as the network’s native gas token and base unit of value. It is designed to be a long-term, scarce digital asset used for transactions, fees, and economic activity across the Frax ecosystem. FRAX is not a governance token and does not represent voting power; instead, it acts as the foundational asset that underpins network security and utility.

FXS, on the other hand, was the original governance and value-capture token of the Frax protocol. While FRAX now serves as the primary asset of the ecosystem, FXS holders historically governed protocol parameters and participated in staking and incentive mechanisms. With the evolution of Frax and the launch of Fraxtal, governance and economic functions have increasingly shifted toward FRAX and its staked form, veFRAX, marking a transition from a dual-token model to a more streamlined, commodity-based design.

What Is Frax Tokenomics?

Frax (FRAX) follows a commodity-style tokenomics model designed to support long-term sustainability, predictable issuance, and on-chain economic security. Unlike traditional inflationary governance tokens, FRAX operates with a fixed emission schedule and is treated as a core economic asset rather than a governance-only token.

FRAX has a controlled supply with a declining emission curve, starting with an annual inflation rate of around 8%, which decreases by 1% each year until it reaches a long-term floor of 3%. These emissions are distributed to support network security, ecosystem growth, validator incentives, and community initiatives. In parallel, the Frax Burn Engine (FBE) permanently removes FRAX from circulation through protocol usage, such as gas fees and designated burn mechanisms, helping offset inflation and reinforce long-term value.

The ecosystem also features veFRAX, a non-transferable, staked form of FRAX that grants governance rights and protocol influence. Users who lock FRAX for longer periods receive greater voting power, aligning long-term participation with network stability. Together, controlled emissions, deflationary burn mechanics, and long-term staking incentives form the foundation of Frax’s sustainable and utility-driven tokenomics model.

What Blockchain Network Does Frax Operate on?

Frax operates natively on the Fraxtal blockchain, a purpose-built Layer 1 network designed to support the Frax ecosystem. Fraxtal uses FRAX as its native gas token and settlement asset, enabling fast, low-cost transactions and secure execution of smart contracts. While FRAX can also exist in wrapped form on other chains for interoperability, Fraxtal serves as the primary settlement layer where core protocol functions, token issuance, and economic activity take place.

How to Store FRAX Tokens Securely

The easiest and most secure way to store FRAX tokens is by keeping them on BingX, where users benefit from institutional-grade security, cold-wallet custody, and real-time risk monitoring. Storing FRAX on BingX also allows you to trade instantly, access liquidity, and manage your assets without worrying about private key management. BingX uses multi-layer security protocols, including cold storage, withdrawal whitelists, and real-time risk controls, making it a convenient option for both active traders and long-term holders.

For users who prefer full self-custody, FRAX can also be stored in non-custodial wallets that support the Fraxtal network or wrapped FRAX versions on other blockchains. Hardware wallets and reputable software wallets allow you to maintain full control over your private keys while interacting with DeFi applications. However, users should ensure they understand network compatibility, wallet security best practices, and backup procedures before transferring funds off an exchange.

Is Frax (FRAX) a Good Investment?

Frax (FRAX) stands out as a compelling long-term investment due to its unique position as a scarce, utility-driven asset powering the Fraxtal blockchain. Unlike traditional stablecoins or inflationary governance tokens, FRAX combines predictable supply mechanics with real on-chain demand, serving as the native gas token, settlement asset, and economic backbone of the Frax ecosystem.

Its deflationary elements, such as the Frax Burn Engine, alongside a transparent emission schedule and growing adoption across DeFi applications, support sustainable value accrual over time. Backed by an active development team and an expanding ecosystem, FRAX offers investors exposure to a next-generation blockchain economy built around long-term utility rather than short-term speculation.

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