The FRAX stablecoin is issued by the decentralized lending platform Frax Finance. The goal of Frax cryptocurrency is to replace digital assets with fixed supply, like BTC, with highly scalable, decentralized money. Fractional collateral reserves are used by Frax Finance's algorithm to maintain the value of FRAX. On Frax Finance, the accepted collateral (such as stablecoins) and the governance token (FXS) are both used as collateral. Based on its pricing, the collateralization ratio for FRAX fluctuates. FRAX is an Ethereum network-compliant ERC-20 coin. It is an algorithmic stablecoin that seeks to keep its peg to the dollar (USD) at one.

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