Frax is a fractional-algorithmic stablecoin, partially secured by collateral, partially algorithmically stabilized. Stablecoin is fully managed by the community.

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Frax

The Frax protocol is the first stablecoin system with a fractional algorithmic system. It has an open-source code that does not require permission and is linked to a chain. Implemented on Ethereum.

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Frax Share

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In case anyone missed it, snapshot date is Feb 20th 4pm PST. The balances eligible are veFXS, staked FRAX-FXS LP, and tFXS in Tokemak. This means if you hold cvxFXS you'll get the max airdrop since Convex will get it for their veFXS stake and pass it through to cvxFXS holders. The details of the distribution+docs will be slowly released leading up to that date 🙂