What is FXS

1. Project Introduction
Frax Finance is a DeFi protocol offering three types of stablecoins and staking derivatives (FRAX, FPI, frxETH), designed to generate yield, provide liquidity, and enable staking in the DeFi space. The protocol uses innovative subprotocols and native governance tokens (FXS, FPIS) to ensure price stability and user governance. Initially launched as a single stablecoin protocol, Frax Finance has since evolved into a multi-product ecosystem centered around the Frax stablecoin. Its offerings include Fraxswap, Fraxferry, and Fraxchain.
FXS is the governance token of Frax Finance. By locking FXS tokens to obtain veFXS, holders can receive revenue dividends and participate in governance voting. This also includes voting rights for Curve tokens (CRV) and Convex tokens (CVX), as Frax Finance holds significant amounts of CVX. The FXS token captures the value of the entire Frax Finance ecosystem, representing not just governance but also the economic value of the protocol.
Summary: Frax Finance has grown from a single stablecoin project into a diverse ecosystem, with the FXS token embodying governance and the overall value of the protocol. Frax Finance's innovations in stablecoins and liquidity provision make it a major player in the DeFi space.
2. Team & Investment Info
Sam Hamidi-Kazemian: Founder of Frax Finance, a UCLA graduate with a programming background. Previously co-founded the blockchain-based online encyclopedia Everipedia.
Travis Moore: Co-founder of Frax Finance, also a UCLA graduate and former CTO of Everipedia.
Jason Huan: Director of Development at Frax, a UCLA computer science graduate, and former blockchain community founder.
Funding: Supported by major investors including Dragonfly, Electric Capital, Robot Ventures, Crypto.com Capital, Balaji Srinivasan, and Stani Kulechov.
3. Social Media URLs
X: https://x.com/fraxfinance
Telegram: https://t.me/fraxfinance
4. Token Info
Token Symbol: FXS
Total Supply: 99,681,496 FXS
Token Type: ERC-20
Issuance/Burn Mechanism: Dynamic mechanism
Contract Address: 0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0
Token Distribution:
60% — Liquidity Programs / Farming / Community: Distributed through gauges and governance, halving naturally every 12 months.
3% — Strategic Advisors / External Early Contributors: These tokens are allocated for strategic work in legal, technical, and business areas to promote the adoption of the Frax protocol. They are vested evenly over 36 months.
12% — Accredited Private Investors:
2% unlocks at launch
5% vests over the first 6 months
5% vests within 1 year
A 6-month cliff applies to the vesting period.
For more details, refer to the white paper: https://docs.frax.finance/
5. Related Links
Official Website: https://frax.finance/
Other Info: https://www.rootdata.com/Projects/detail/Frax?k=MTIzOA%3D%3D
GitHub: https://github.com/fraxfinance