FXS token is a non-stable utility token for the Frax protocol. The token itself was designed for volatility and governance on the system. However, it is worth noting that the limited governance model integrated with this token was created with the mission to design trustless money and minimal interference. The philosophy is that with less regulation, there is less room for disagreement. Some of the parameters that can be voted on include adding or adjusting collateral pools and modifying the fees/ collateral ratio. As long as the demand for FRAX continues, the FXS tokenomics model operates with a fixed, deflationary supply. As FXS’s market cap increases, the system’s ability to stabilise FRAX also increases. When considering the overall market capitalisation of FXS tokens, the white paper suggests calculating the future expected netted from FRAX tokens seigniorage in perpetuity, cash flow from redemption fees and minting, and unused collateral. Additionally, FXS holders can generate veFXS by locking FXS tokens up. veFXS grants special governance and AMO profits.
Sign up to Swyftx to buy Frax Share (FXS) inAustralia.
The best place to buy Frax Share is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Frax Share (FXS). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of FXS is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Frax Share with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy FXS instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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