Frax Share is part of the Frax Protocol, which is the first fractional-algorithmic stablecoin system. The protocol aims to provide a highly scalable, decentralised, algorithmic money in place of fixed-supply digital assets like Bitcoin. Frax Share (FXS) is the governance token of the Frax Protocol, used in the staking and governance of the Frax stablecoin (FRAX). Holders of FXS have rights to governance, fee revenue, and collateral value as the protocol shifts towards increased decentralisation and algorithmic stability.