Frax is a fractional-algorithmic stablecoin designed to maintain a stable value, while Frax Price Index Share (FPI Share) is the governance and seigniorage token of the Frax Price Index protocol. They differ in function: Frax serves as a stable medium of exchange, whereas FPI Share provides voting rights and captures seigniorage from the Frax Price Index. Frax suits users seeking a stablecoin; FPI Share is for those interested in governance and potential returns from the Frax Price Index ecosystem.
| Token Price | $1.2 | $0.0827 |
| 24h Change | ▲ 0.01% | ▼ 2.62% |
| Market Cap | $30.2M | $2.4M |
| TVL | $287.3MDefiLlama | $173.1KDefiLlama |
| MCap Rank | #149 | #2089 |
| Total Raised | — | — |
| Founded | 2019 | — |
| Stage | — | — |
| X / Twitter | 103K | 103K |
| GitHub Stars | 535 | 535 |
| Chains | arbitrumauroraavalanche | arbitrumbnb-chainethereum |
| Tags | DeFi, LSD, Stablecoin Protocol | Decentralized Finance (DeFi), BNB Chain Ecosystem, Arbitrum Ecosystem |
FRAX is the first fractional-algorithmic stablecoin, pegged to the US dollar. It uses automated market operations (AMOs) and internal subprotocols like Fraxlend and Fraxswap as stability mechanisms. FRAX is a key part of the DeFi ecosystem, providing a scalable and decentralized stablecoin.
FPIS is the governance token of the Frax Price Index (FPI) stablecoin system, entitling holders to seigniorage from protocol treasury excess yield. FPI is the first stablecoin pegged to a basket of real-world consumer items based on the US CPI-U average, aiming to maintain purchasing power on-chain.