Trade FXS/USD
Frax Share / US Dollar
Frax Share is the governance and value accrual token of the Frax Finance ecosystem, which spans the FRAX stablecoin, frxETH liquid staking, Fraxlend, and the FraxChain L2 initiative.
Specifications
About Frax Share (FXS/USD)
Frax Finance launched in 2020 as the first fractional-algorithmic stablecoin, a hybrid model where FRAX is partially backed by collateral and partially stabilized by algorithmic mechanisms involving FXS. The protocol has evolved significantly since launch: Frax v3 moved toward a fully collateralized model using yield-bearing assets. FXS holders govern the protocol and receive value from seigniorage, protocol revenue, and FXS buybacks. The Frax ecosystem expanded to include frxETH and sfrxETH liquid staking tokens competing with Lido, Fraxlend for collateralized borrowing, and FraxSwap as an AMM DEX. Frax has been a major participant in the Curve Wars, accumulating CVX to direct Curve emissions to FRAX liquidity pools. FXS/USD on StoicFX is a CFD, no FXS tokens are purchased or held on your behalf.
Key Price Drivers
- FRAX stablecoin circulating supply and protocol collateral generating yield for FXS holders
- frxETH adoption and ETH staking inflows competing with Lido stETH and Rocket Pool rETH
- Protocol revenue from collateral yield, lending fees, and staking fees flowing to FXS buybacks
- Regulatory scrutiny of algorithmic stablecoin models affecting Frax positioning
Peak Trading Hours
DeFi protocol tokens trade around the clock as CFDs on StoicFX MT5. Volume tends to peak alongside the US session, when TVL shifts and protocol governance activity are most concentrated.
US and European business hours (13:00-21:00 UTC)
Smart contract exploits, governance proposals, and liquidity migration events can cause sudden price moves at any hour. Available on MT5 from Monday 00:00 to Friday 23:59 UTC.
How to Trade FXSUSD on StoicFX
Open an Account
Register for a live or demo account in minutes.
Fund Your Account
Deposit via bank transfer, card, crypto, or e-wallet.
Find FXSUSD in MT5
Open MetaTrader 5, search for FXSUSD in Market Watch, and add it to your chart.
Place Your Trade
Set your lot size, stop loss, and take profit, then execute your order.
FAQ
What made Frax's fractional-algorithmic stablecoin model novel at launch?
Prior stablecoins were either fully collateralized like USDC, where each token is backed 1:1 by cash or equivalents, or purely algorithmic like the original Terra model, which relied entirely on incentive mechanisms and a companion token to maintain the peg. Frax introduced a middle ground: FRAX was partially backed by collateral and partially stabilized algorithmically. The collateral ratio adjusted dynamically based on market conditions, moving toward full collateralization during stress and reducing collateral requirements during stable periods. This was the first attempt to optimize capital efficiency while maintaining peg stability.
How does frxETH differ from Lido's stETH?
Frax's liquid staking involves two tokens: frxETH, which is a liquid representation of staked ETH that does not rebase, and sfrxETH, a vault token that accrues all staking rewards. Holding frxETH does not earn yield directly; depositors must wrap it into sfrxETH to receive compounding staking rewards. This design concentrates yield into sfrxETH holders and allows frxETH to be used in Curve liquidity pools without the rebasing complications that stETH creates. Frax optimizes yield by directing frxETH to maximize Curve gauge weight through Frax's veCRV and CVX holdings.
What is the relationship between FXS and Frax's Curve Wars strategy?
Frax accumulated large positions in veCRV and CVX to direct Curve pool emissions toward FRAX liquidity pools. Deep Curve liquidity for FRAX reduces slippage when trading in and out of the stablecoin, supporting its peg stability and making it a more attractive base asset in DeFi. FXS holders benefit from this strategy because it grows FRAX adoption, which expands protocol revenue. The ongoing cost of maintaining Curve gauge weight through CVX bribes or veCRV accumulation is a strategic expense that FXS governance must continually weigh against alternatives.
If I trade FXS/USD on StoicFX, do I hold any FXS tokens?
No. FXS/USD on StoicFX is a Contract for Difference. You trade FXS's price against the US dollar without holding any tokens. To mint FRAX stablecoins, stake ETH through frxETH, lend on Fraxlend, or vote on Frax governance proposals, you would need actual FXS tokens and supported assets in an Ethereum-compatible wallet.
Start Trading FXS/USD
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CFDs are complex instruments and carry a high risk of rapid capital loss due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.