Background of Frax Project Rebranding and Token Change
In the process of advancing decentralized stablecoins and ecosystem governance, the Frax protocol announced a major brand upgrade and token merger plan at the end of 2025. The original governance token, Frax Share (FXS), was officially renamed to FRAX to unify the protocol's brand awareness and optimize its tokenomics. Major mainstream CEXs and the on-chain ecosystem have gradually cooperated to complete this token migration and renaming transition. Holders and traders need to pay attention to the identification and conversion status of the old and new tokens.
Which Exchanges Have Listed FRAX?
With the advancement of the token rebranding and renaming plan, several mainstream centralized trading platforms have successively completed support for the new token. For example, platforms such as Bybit, Binance, KuCoin, and MEXC handled the delisting of the original FXS and the listing of the new FRAX properly during the transition period, and have successively opened spot trading pairs and deposit/withdrawal services for FRAX against mainstream stablecoins (such as USDT and USDC).
In terms of the decentralized and Web3 ecosystems, self-custodial wallets such as MetaMask, Coinbase Wallet, and Bitget Wallet, as well as mainstream DEXs, also support users in conducting token management and swaps on-chain. When choosing a trading platform, users are advised to make prudent choices based on the compliance requirements and liquidity conditions of each platform.
How to Buy and Sell FRAX on the Market?
For investors looking to participate in trading, mainstream trading paths are mainly divided into two models: centralized platforms and on-chain swaps:
- Centralized Exchanges: Users can register an account on compliant platforms that support FRAX spot trading (such as Binance, Bybit, KuCoin, etc.) and buy and sell through the spot market.
- Web3 Self-Custodial Wallets and DEXs: Users can connect to on-chain liquidity pools via decentralized wallets that support the token to perform direct token swaps.
Market data shows that its circulating market cap fluctuates in the range of $22 million to $28 million, with specific supply and real-time prices varying with market conditions. Due to the high volatility of the crypto asset market, participants are advised to closely monitor official announcements from various platforms and assess their own risk tolerance before participating.
