What is FXS?

Frax Protocol is a revolutionary stablecoin system that uses a fractional-algorithmic approach. It is open-source, operates without permission, and all transactions take place on the blockchain. Currently, Frax is implemented on the Ethereum blockchain, with potential for cross-chain implementation in the future. The ultimate aim of the Frax Protocol is to create a highly scalable, decentralized algorithmic currency that can replace traditional fixed-supply digital assets such as Bitcoin.