What is the FRAX token?
The FRAX token is the native cryptocurrency of the Frax Share project.
It is a decentralized, open-source, and permissionless blockchain-based platform that enables users to create and trade synthetic assets. The FRAX token is used to pay for fees on the platform, as well as to reward users for their contributions to the network. The FRAX token is an ERC-20 token built on the Ethereum blockchain.
It has a total supply of 1 billion tokens, with 50% of these tokens allocated to the public sale and 25% allocated to liquidity mining rewards. The remaining 25% are held by the Frax Foundation and will be used for development, marketing, and other operational costs. The FRAX token has several use cases within the Frax Share platform.
It can be used to pay transaction fees when creating or trading synthetic assets, as well as for staking rewards when users provide liquidity to the platform’s liquidity pools. Additionally, it can be used for governance purposes, allowing holders to vote on proposals that affect the future of the project.
