{"id":26765,"date":"2024-02-26T19:10:22","date_gmt":"2024-02-26T19:10:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/heres-why-frax-finance-fxs-token-soared-today\/"},"modified":"2024-02-26T19:10:22","modified_gmt":"2024-02-26T19:10:22","slug":"heres-why-frax-finance-fxs-token-soared-today","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/heres-why-frax-finance-fxs-token-soared-today\/","title":{"rendered":"Here\u2019s why Frax Finance (FXS) token soared today"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/frax-finance-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/frax-finance-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/frax-finance-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/02\/frax-finance-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Frax Finance is looking to mirror Uniswap\u2019s proposal to allocate protocol fees to stakers<\/span><\/li>\n<li><span style=\"font-weight: 400\">FXS price surged to highs of $9.64 and could break above $10 if bulls hold onto gains.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">After the Uniswap Foundation released a proposal seeking to distribute network fees to UNI stakers, the team at Frax Finance have outlined a similar proposal. <a href=\"https:\/\/coinjournal.net\/frax\/\">Frax Finance<\/a> founder Sam Kazemian outlined this during an interview with CoinDesk.<\/span><\/p>\n<p>The Frax Finance team had earlier hinted at this on February 23 via a post on X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Should veFXS holders vote to distribute Frax Protocol revenue back to veFXS stakers again? Frax Finance makes 8 figures of annual revenue &amp; growing, mostly being conserved in the treasury now. Time to turn it back on? \ud83d\udc40 <a href=\"https:\/\/t.co\/3Yd9oDV98A\">https:\/\/t.co\/3Yd9oDV98A<\/a><\/p>\n<p>\u2014 Frax Finance \u00a4\u26d3\ufe0f\u00a4 (@fraxfinance) <a href=\"https:\/\/twitter.com\/fraxfinance\/status\/1761102567667548277?ref_src=twsrc%5Etfw\">February 23, 2024<\/a><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400\">FXS toke surges amid UNI-like proposal<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Last week, the <a href=\"https:\/\/coinjournal.net\/news\/tag\/uniswap\/\">Uniswap (UNI)<\/a> token jumped on news of the protocol\u2019s revenue share proposal. Frax Finance\u2019s governance token FXS is also rising after the project\u2019s latest move. While the community rejected a proposal aimed at sharing revenue in 2022, the current outlook led by Uniswap could get the nod.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If it does, FXS holders can lock their tokens for veFXS, which would attract a share of the protocol revenue. Users can stake veFXS on Ethereum mainnet and on Fraxtal, the layer-2 protocol of Frax Finance.<\/span><\/p>\n<p><span style=\"font-weight: 400\">FXS traded to highs near $11 on February 5. Today\u2019s 8% spike pushed it to highs of $9.64, levels seen on February 20.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the broader DeFi ecosystem witnessing a bump in prices amid UNI token\u2019s surge last week, further gains for FXS could push it back above $10.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Above this, FXS could target $12, the March 2023 resistance level. Bulls could then eye the all-time high of $42.80 hit in January 2022. On the flipside, Frax Finance price has primary support at $8 and potentially $7.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/heres-why-frax-finance-fxs-token-soared-today\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Frax Finance is looking to mirror Uniswap\u2019s proposal to allocate protocol fees to stakers FXS price surged to highs of $9.64 and could break above $10 if bulls hold onto gains. After the Uniswap Foundation released a proposal seeking to distribute network fees [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26765"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=26765"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26766"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}