Frax Shares Lead as 99% of Avax C-Chain Bleeds.

Published by AVAX on

Frax is an algorithmic stablecoin. Backed by Frax Shares. The premise is simple; Frax is partially backed, algorithmically, and profits are generated to Frax Share holders.

Currently trading on Pangolin, FXS seems to be the only currency not running red at the current time.

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Frax Shares token metrics 20th July 2021. Source: CoinGecko

Frax recently made its way to Avalanche. And has already partnered with Pangolin. Sam Kazemian, Leo–BestCoderNA, and I, held a Frax AMA for Pangolin a few weeks back. In which, Sam, the founder, shared more on Frax, how it works, and its future outlook.

We are in a bear market at present, despite the eternal bull shills on Twitter. Logic tells that cryptocurrencies backing stablecoins seem a promising choice. As people look to exit their positions, selling into the dip. As always.

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Frax’s homepage. Detailing their mission. Source:
Categories: DEFI_NEWS