Dear Nami Community,
In order to expand the investment portfolio and bring more choices to users and the community, Nami Exchange would like to announce the listing of FXS token with trading pairs FXS/VNDC and FXS/USDT
Specifically,
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.
Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithm. 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.
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.
Nami Corp. is a FinTech startup operating in the field of Investment and Technology based on Blockchain technology. Over the years, Nami has developed an ecosystem of key products and services to
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