What kind of currency is FXS coin? Which exchanges can buy FXS coin?

FXS Coin (FXS) is the governance token of Frax Finance, a DeFi protocol offering stablecoins, synthetic assets, and liquidity services, enabling holders to influence protocol decisions and earn rewards through staking.

Oct 07, 2024 at 05:17 am

What is FXS Coin?

1. FXS Coin Overview
   FXS Coin (FXS) is a cryptocurrency used to govern the Frax Finance decentralized finance (DeFi) protocol. It serves as a governance token, providing holders with voting rights on protocol parameters and the allocation of a portion of protocol revenue.
2. Frax Finance and FXS Coin
   Frax Finance is a DeFi platform that offers a range of financial products, including stablecoins, synthetic assets, and liquidity as a service. FXS Coin is at the core of the Frax ecosystem, enabling users to participate in the governance process and influence the direction of the protocol.

3. FXS Coin Utility
   The main utilities of FXS Coin are:

   • Governance: Voting on protocol parameters and treasury allocations.
   • Staking: Staking FXS Coins to earn rewards.
   • Fees: Users may pay protocol fees using FXS Coin.

Where to Buy FXS Coin

1. Centralized Exchanges
   FXS Coin is available on several centralized exchanges, including:

   • Binance
   • FTX
   • Coinbase
   • KuCoin

2. Decentralized Exchanges
   FXS Coin can also be bought and sold on decentralized exchanges (DEXs), such as:

   • Uniswap
   • Curve
   • Balancer