$FRAX
FRAXUSDT
Perp
0.6326
-3.77%
As of February 1, 2026, Frax Finance (FRAX) has recently completed one of the most significant transformations in its history. The protocol has officially transitioned from its "algorithmic" roots to a fully collateralized, institutional-grade ecosystem, supported by a major rebranding of its governance token (formerly FXS) to FRAX.