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Frax is a fractional-algorithmic stablecoin protocol. Frax is open | [[File:Frax.png|thumb|Frax Finance]] | ||
Frax is a fractional-algorithmic stablecoin protocol created by Frax Finance. Frax is [[open source]], permissionless, and entirely on-chain – currently implemented on Ethereum and other chains. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. | |||
== History == | |||
Sam Kazemian created Frax in 2019 with former Federal Reserve Board nominee Stephen Moore. <ref>https://www.countere.com/home/sam-kazemian-frax-interview</ref> | |||
== Overview == | == Overview == | ||
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=== Crypto Native CPI === | === Crypto Native CPI === | ||
Frax's end vision is to build the first crypto native version of the CPI called the Frax Price Index (FPI) governed by FXS holders (and other protocol tokens). FRAX is currently pegged to USD but aspires to become the first decentralized, permissionless native unit of account which holds standard of living stable. | Frax's end vision is to build the first crypto native version of the CPI called the Frax Price Index (FPI) governed by FXS holders (and other protocol tokens). FRAX is currently pegged to USD but aspires to become the first decentralized, permissionless native unit of account which holds standard of living stable. | ||
== External Links == | |||
How does Frax work: https://twitter.com/billionxdev/status/1513499763596922888 | |||
Sam Kazemian on Bankless show: https://twitter.com/billionxdev/status/1514671428901036033 | |||
A Note on Cryptocurrency Stabilisation: Seigniorage Share - Robert Sams: https://blog.bitmex.com/wp-content/uploads/2018/06/A-Note-on-Cryptocurrency-Stabilisation-Seigniorage-Shares.pdf | |||
== References == | |||
<references /> | |||
[[Category:Protocols]] | |||
[[Category:Stablecoin]] | |||