Introduction
Frax Share Token is a blockchain-based platform that will allow users to monetize their files and information.
The platform will make use of the smart contract feature of blockchain
technology to make sure all transactions are safe and secure.
It is a new product that has been
branded as the first-ever “Crypto Peer to Peer Sharedrop”. Of course, I'm sure
you've heard of free Google traffic, but how many of you have ever heard of
free Crypto traffic?
Frax has been in the news a ton lately because they are giving away $20,000
every 24 hours. This has led to a large amount of traffic and questions being
asked. Is it really possible to make money using FraxShare tokens?
Frax
Share Token Review
Frax is a blockchain-based platform
designed to create an ecosystem of content creators, advertisers, and
consumers. Frax is also a cryptocurrency that can be used to make payments on
the Frax platform.
The Frax platform will be built on
Ethereum smart contracts, which have been tested for bugs and security issues
by auditors from the Solidified security auditing firm.
Fax plans to issue its own native
token called FRAX, which can be used as a payment method within the platform.
The token will be issued through an initial coin offering (ICO) scheduled for
February 2019. FRAX tokens will be available at a fixed price of USD 0.05 per
token during the ICO period.
FRAX Token Value Proposition
FRAX has several uses, both for
users on the FRAX platform and for those who wish to use FRAX tokens outside of
the platform.
First, FRAX tokens are used to
create synthetic assets on the FRAX protocol. This means that any holder of
FRAX tokens can mint an asset pegged 1:1 to any number of other assets. For
example, holders of BTC can create a synthetic BTC/USD pair where they stake
BTC and sell USD in equal amounts. The two stablecoins that are created in this
process are referred to as sUSD and sBTC respectively (the "s" stands
for synthetic).
These new stable coins can be used in
a variety of ways. Since they are pegged 1:1 with their underlying assets, they
can be used as collateral when creating new synthetic assets on the protocol.
This means that anyone holding non-collateralized stable coins like USDC or PAXG
can mint a synthetic version of their stable coin that is backed by real assets
such as ETH and BTC. The price of each asset is determined by an on-chain
oracle system, which aggregates data from major exchanges and feeds it into the
protocol algorithmically.
How
does the FRAX Token work?
The FRAX token is the Ethereum-based
(ERC-20) utility token that powers the FRAX stable coin. The FRAX stablecoin is
a price-stable cryptocurrency designed to be backed by a crypto collateral
pool, which is itself collateralized by the FRAX token. The FRAX token can be
used as collateral to back the stablecoin and earn interest, staked to gain
voting power and access to governance features in the system, or held as a
speculative asset.
FRAX tokens are also used to pay
stability fees on the stablecoin, which are then burned. Like other cryptocurrencies,
FRAX tokens can fluctuate up and down in price; unlike many other
cryptocurrencies, however, this does not affect the value of the stable coins issued on the platform because they are only backed by collateral when demand
for them increases beyond a certain level.
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