What is Frax Share (FXS)?
Frax Share (FXS) is the governance token of the Frax protocol, the world’s first fractional-algorithmic stablecoin system, launched in late 2020. The Frax protocol introduced a new concept where the stablecoin, Frax (FRAX), is partially backed by collateral and partially stabilized algorithmically. FXS holders have governance rights over the Frax protocol and benefit from fees generated from Frax transactions.
The innovative model of FXS aims to provide a scalable and decentralized stablecoin alternative. It balances the security of collateral backing with the efficiency and flexibility of algorithmic procedures. This approach seeks to optimize stability, trust, and usability in the DeFi ecosystem, representing a novel solution in the stablecoin space.
The innovative model of FXS aims to provide a scalable and decentralized stablecoin alternative. It balances the security of collateral backing with the efficiency and flexibility of algorithmic procedures. This approach seeks to optimize stability, trust, and usability in the DeFi ecosystem, representing a novel solution in the stablecoin space.
Why choose Rabbit Wallet for Frax Share?
Whether you're a total crypto newbie or a seasoned pro, Rabbit Wallet's got your back for
handling your FXS with ease. Check out some cool features that make Rabbit stand out:
Exchange Frax Share (FXS)
With the Rabbit's built-in coin swap feature, you can exchange your Frax Share for
any other coin at the best rates without ever leaving the cozy confines of your
wallet.
Self-Custodial
With a self-custodial wallet, you control the keys to your Frax Share, meaning that
nobody, not even Rabbit, can ever access your coins. This also leads to faster
transactions with no third-party fees except for miners and increased flexibility.
Optimal Fees
The unique fee calculation algorithms provide you with various options when
available, allowing you to choose the most optimal one to ensure your transaction is
confirmed both swiftly and cost-effectively.
User-Friendly
We've worked hard to make Rabbit Wallet user-friendly for everyone. Packed with
features, it suits users at all levels, and our developers respond directly when
help is needed.
How to use Rabbit Wallet?
Creating a new wallet takes just a few clicks, and requires no information from you.
Here is a short brief on how you can create your new wallet:
Here is a short brief on how you can create your new wallet:
Save your phrase
You will be given a phrase, which will act as a primary key to your wallet. Save it
securely.
Set your password
Password is required to both open your wallet, and to perform any transactions.
You are in!
Now you are all set to explore the crypto world! Welcome to freedom!
Friendly tip: Having your passphrase on a sticky note under a keyboard might not be the best way to
store it.