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THE WORLD'S MOST INNOVATIVE DECENTRALIZED STABLECOINS AND DEFI STABLECOIN
INFRASTRUCTURE.

The Frax ecosystem is a self-sufficient DeFi economy utilizing stablecoins as
currency.
$1.00
FRAX Price
$1.098
FPI Price
$2,173.10
frxETH Price


FRAX STABLECOINS

The Frax Protocol currently issues 3 stablecoins.
FRAX
The Frax stablecoin is a crypto collateralized stablecoin pegged to the US
dollar that is highly scalable, trustless, and ideologically pure on-chain
money.
Explore FRAX
FPI
Frax Price Index (FPI) is the first stablecoin pegged to a basket of consumer
goods (CPI) creating its own unit of account separate from any nation state
denominated money. FPI is fully backed and crypto collateralized.
Explore FPI
frxETH
Frax Ether (frxETH & sfrxETH) is an ETH pegged stablecoin and LST system used as
a replacement for WETH in smart contracts. Designed to leverage the Frax
ecosystem and fully crypto collateralized.
Explore frxETH


FRAX INFRASTRUCTURE

The Frax ecosystem has several subprotocols that integrate its stablecoins.


FRAXSWAP

Fraxswap is the first AMM with an embedded time-weighted average market maker
(TWAMM) for conducting large trades over long periods of time trustlessly. It is
fully permissionless and based on the constant product invariant (xy=k).
Launch Fraxswap
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FRAXLEND

Fraxlend is a trustless, permissionless, and non-custodial lending platform that
provides lending markets between any two ERC20 tokens. Each pair is an isolated
market which allows anyone to participate in lending and borrowing activities.
Launch Fraxlend
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FRAXFERRY

Fraxferry is a permissionless, non-custodial, and secure method to transfer
natively issued Frax Protocol tokens across many blockchains without requiring
bridges or third-party applications.
Launch Fraxferry
Docs



FRAX GOVERNANCE

The Frax Protocol is governed by two tokens.
Frax Share
Frax Share (FXS) is the utility token that can be staked as veFXS to govern the
ecosystem's stablecoins and infrastructure protocols. FXS tokens have various
utility and features within the overall Frax economy.
Explore FXS
Frax Price Index Share
Frax Price Index Share (FPIS) is a utility token that can be staked as veFPIS to
uniquely govern the FPI stablecoin's novel CPI peg properties. FPIS is
interconnected to the Frax Share (FXS) token, and both grow in utility together.
Explore FPIS
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