Frax Ether (frxETH) is a liquid staking derivative issued by the Frax Finance protocol. It is an asset tokenized on the Ethereum blockchain and is backed by at least 1 ETH in validator nodes at all times. Frax Ether provides users with an opportunity to stake their Ethereum and participate in the validation process while also maintaining liquidity.
Frax Finance is a decentralized protocol built on the Ethereum platform. It aims to create a stablecoin called Frax (FRAX) that is backed by a combination of stable assets and collateralized debt positions (CDPs).
Frax Ether (frxETH) is available for trading on the following exchanges: