Accept Frax Share Payments

The Frax Protocol stands out as the pioneering fractional-algorithmic stablecoin system. Frax operates openly, without permission, and entirely on-chain, presently operating on Ethereum (with potential cross-chain expansions ahead). Its ultimate objective? To offer a highly scalable, decentralized, algorithm-based monetary system, challenging fixed-supply digital assets like BTC. The protocol embodies several fundamental concepts:

Fractional-Algorithmic Design: Frax is an exceptional stablecoin. It combines collateral-backed portions with algorithmic portions in its supply. The ratio between collateralized and algorithmic segments adapts based on the market's valuation of the FRAX stablecoin. If FRAX surpasses $1 in trading, the protocol reduces the collateral ratio; if it falls below $1, the protocol increases the collateral ratio.

Decentralization & Minimal Governance: Governed by the community, the protocol champions a largely autonomous, algorithm-driven approach devoid of active management.

On-Chain Oracles: Frax v1 utilizes Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

Dual Tokens: FRAX represents the stablecoin, aiming for a tight band around $1/coin. Frax Shares (FXS) serve as the governance token, accruing fees, seigniorage revenue, and excess collateral value.

Before Frax, stablecoins fell into three categories: fiat-collateralized, cryptocurrency overcollateralized, and non-collateralized algorithmic variants. Frax redefines stablecoins by introducing the fractional-algorithmic type, marking the emergence of a fourth, uniquely distinct category.