What is the current price of Frax (FRAX)?

The current price of Frax (FRAX) is 3.0981174179504483 AUD, representing a +4.00 from the day prior.

Can I buy Frax (FRAX) on Coinstash?

Yes - you can easily buy and sell Frax (FRAX) on Coinstash. Simply login or sign up, to start buying Frax (FRAX) in minutes.

Where is the best place to buy Frax (FRAX) in Australia?

The best place to buy Frax (FRAX) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Frax (FRAX) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of Frax (FRAX)?

The trading volume of Frax (FRAX) is 16.2M AUD in the last 24hrs, representing a +4.00 from the day prior.

How can I buy Frax (FRAX)?

Frax (FRAX) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of Frax (FRAX)?

The current market cap of Frax (FRAX) is 551.7M AUD.

Can I convert Frax (FRAX) to cash?

Yes - With Coinstash you can convert your Frax (FRAX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many Frax (FRAX) are there?

The current circulating supply of Frax (FRAX) is 348.2M.

Is Coinstash a safe place to buy Frax (FRAX) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Frax (FRAX) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy Frax

What is Frax?

Frax is a decentralised finance (DeFi) protocol that offers a suite of stablecoins and collateral derivatives, primarily designed to provide liquidity, yield earning, and pledging within the DeFi ecosystem. The protocol features three primary stablecoins: FRAX pegged to USD, FPI pegged to a basket of consumer goods, and frxETH, a Liquid Staking Derivative pegged to ETH.

How does Frax work?

Frax operates on a fractional-algorithmic stablecoin system combining both collateralised and algorithmic mechanisms to maintain price stability. Built on the Ethereum network, Frax leverages Algorithmic Market Operations (AMOs) and smart contracts. It employs a dual-token model with FRAX as the stablecoin and FXS as the governance token, which accrues fees and participates in the protocol's decision-making processes.

What are the potential use cases for Frax?

Potential use cases for Frax include:

Decentralised lending and borrowing through platforms like Fraxlend.
Stablecoin issuance and management.
Automated market making and liquidity provision via Fraxswap.
Cross-chain communication and DeFi infrastructure improvements.

What is the history of Frax?

Frax was founded by Sam Kazemian and his team amid the 2019 crypto bear market with a focus on developing a new class of stablecoins. Despite scepticism post the 2018 ICO bubble, the project's initial progress involved significant theoretical and technical development without external funding. The protocol has since evolved, implementing features like Fraxtal, a Layer 2 chain, and partnering with protocols for cross-chain communication enhancements. Over the years, Frax has grown in market presence, asserting itself as a significant player in the stablecoin sector.