Frax (prev. FXS) FRAX

Frax Share (FXS) is one of the two governance tokens that govern the Frax Protocol. It is a token that holders can use to participate in the governance of the protocol, including voting on proposals and making decisions regarding the protocol's future development and operation.

Frax Share (FXS) is unique compared to other cryptocurrencies because it serves as the governance token for the Frax Protocol. As a governance token, FXS holders have the power to propose and vote on changes to the protocol, including adjustments to the collateral ratio and other parameters that affect the stability and functionality of the Frax stablecoin. This means that FXS holders have a direct say in the decision-making process and the future direction of the Frax ecosystem. Additionally, FXS holders can also participate in the Frax Rewards program, earning a share of the fees generated by the Frax ecosystem. Overall, FXS provides holders with both governance rights and potential financial incentives, making it unique among cryptocurrencies.