What Is the Frax Protocol (FRAX)?

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:

Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.

Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin.  Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.

How Many FRAX and FXS Coins Are There in Circulation?

The supply of the FRAX stablecoin is dynamic and always changing to keep the price at $1 due to its fractional-algorithmic monetary policy. The supply of the FXS tokens are hard capped to 100 million tokens at genesis with no inflation schedule in the protocol. The FXS token is the governance token which accrues all value of new minted FRAX, fees, and excess collateral. FXS is an investment and governance asset while FRAX is the currency token.

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What Makes Frax Unique?

The Frax Protocol is a community driven and unique design stablecoin. Over 60% of the supply of FXS is issued over a number of years to liquidity providers and yield farmers. It is an entirely decentralized protocol with governance onchain. It is also the first and only stablecoin to incorporate the fractional-algorithmic hybrid design at the time of its launch in November 2020

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Who Are the Founders of the Frax Protocol?

The Frax Protocol is the brainchild of American software developer Sam Kazemian who came up with the first idea of a fractional-algorithmic stablecoin in 2019.

The founding team of Frax engineers includes Travis Moore and Jason Huan. Sam Kazemian originally devised the idea when he noticed that stablecoins were growing rapidly but none had any mixture of algorithmic monetary policy and collateralization. Projects that had purely algorithmic monetary policy had failed or shut down without any significant traction. Frax was designed as an answer to measure the market’s confidence in a partly algorithmic and partly collateralized stablecoin. \n

Where Can I Buy or Obtain FRAX and FXS?

FRAX, the stablecoin, is available on many major exchanges and DeFi platforms like Uniswap and DEXes. The  Frax Shares (FXS) tokens are also available and as liquid as the stablecoin. Investors looking to purchase upside and governance rights to the world’s first fractional-algorithmic stablecoin should buy  Frax Shares (FXS). Users who want stability by using the world’s only fractional-algorithmic stablecoin should purchase FRAX. \n

about this dashboard

in this dashboard I want to analyze the FXS and found the impact of them in the total network.

the thing that I want to speak about them are:

• transaction number
• amount of USD
• gas amount
• fee amount
• user number
• success transaction
• event type of the total network and FXS
• transaction number of the transfer

I want to start the dashboard with the transaction number and find the impact of them to each other.

as you see in the upper chart transaction number by the time(from the first of the year) increase and in the last 3 month the transaction number of the total network be stable and stay in their stable range.

so when we look at the FXS transaction number again we see the same performance in the FXS.

as you see in the first of the year transaction number was in their low amount and by time as you see this number increase and in the last 3 month this number like total networks transaction be stable.

as you know the both of the FXS and total network had the same slope in their graph, and we understand that both of the FXS and total network had impact on each other.

after this part I want to analyze the amount of the USD in FXS and found the impact of them in FXS.

in the USD amount as you see total network with low movement had the same and normal amount.

as you see we can see that there is low movement in the USD amount in the total network but as you see this movement is normal and is ok.

but when we see the FXS USD amount we see that after 9 Jul , USD amount increase and before that date the volume of the USD was very low.

and by see the volume of the USD in the upper graph we understand that both of the FXS and total network had not impact on each other.

and again we can say that amount of the USD had not relation even with transaction number.

after this part I want to analyze the user of the FXS and total network.

in this part I want to analyze the number of the user by the time as you see in the total network we can see that by the time(from first of the year) user number of the total increase and by the time slope of the increase, decrease.

and when we see the FXS user number we see the same thing.

and when we attention to the previous part we see that user number graph have similarity with the transaction number.

so in this part we get two thing from chart.

1- user number of the FXS and total had impact on each other(have the same increase and decrease)

2- number of the transaction have impact on the increase of the user number.

after this part I want to speak about the gas amount and fee transaction.

as you see in this part I want to analysis the gas amount of the total and FXS and found the impact of them on each other.

as you see in the total gas amount by the time increase and it maybe because of the transaction number. as you see by the increase of the transaction gas amount increase in the total.

and when we check the FXS gas amount we see the same thing but there is one difference in the graph and that is:

in the date 7 Jul - 29 Jul gas amount of the FXS increase and after this time decrease to their previous slope, and if you attention to the total networks graph you see that at that time total networks gas amount decrease and in the opposed part FXS gas increase.

so as a total view we see that except 7 Jul - 29 Jul all of the graph was similar to each other.

after this part lets analysis the fee transaction.

in this part time to fee of the transaction,

as you see both the FXS and total have the same reaction to the fee amount and eve they have the same decrease and increase. so we can understand that in the part of the fee both of the total and FXS have impact on each other.

so after this part it is time to the event type of the total and FXS.

it is time to the event type.

as you see in the FXS most of the transaction were related to the transfer and as you see its percent is more than normal.(80 %)

and after that the most of the transaction related to the approval by close to the 20 %.

and when we pay attention to the total network, because we have most number of the transaction percentage of the type are close to each other, as you see the first place of the total is 37.5 % that is related to transfer and after this we see that swap amount is 12 %.

as you see the transfer is the most popular in the both FXS and total but as you the percentage of them are different.

so lets analyze the transfer by the time.

in this part I want to analyze the transfer of the FXS and total.

as you see in the total by the time transaction of the transfer in the total increase and the same thing happen in the FXS.

so this part show the same slope of the token by the time.

in the last part I want to analyze the success transaction.

conclusion

as you know in this dashboard I want to analyze the FXS and total network and after some chart I get some result that they are :

• in the transaction part I see that both of the FXS and total network impact each other, because both of them had the same slope in the transaction graph.

• in the volume of the USD part, I see that FXS and total network had no any relation with each other.(no impact on each other).

• in the part of the user number of the FXS and total we see that both of them had impact on each other(have the same increase and decrease)

• number of the transaction have impact on the increase of the user number.

• in he gas part we see that both of the FXS and total have the same graph except 7 Jul - 29 Jul, that in this date impact was negative.

• in the fee part we see that both of the FXS and total had the same performance in the total time.

• in the event type we see that, over 75 % transaction in the FXS is related to the transfer and in the total this percent is 37.5 %.

• in the transfer part we see that both of the total and FXS have the same slope and it show that they have impact on each other.

• in the part of the success transaction we see that success transaction by the time increase and there is no any fail transaction in this year(the thing that show in the blocks).

  
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thank you because of your attention.

in this part I find the success and fail transaction of the FXS.

as you see blue color show the success transaction and you see that by the time number of them increase. and the orange color shoe the fail transaction and as you see we do no see any fail transaction in the upper graph.

the interesting thing is that there is no any fail transaction in the upper graph.

but we see that success transaction of the FXS by the increase.