FRAX is an fractional-algorithmic stablecoin protocol. It is an open-source, permissionless and on-chain stable coin. The FRAX protocol outlines five concepts, fractional-algorithmic, decentralised, fully on-chain oracle, two-tokens and crypto native CPI. The key feature that FRAX brings is the fractional-algorithmic protocol, in which the stable coin is partially backed by collaterals and partially by algorithms. 

Crypto.com Capital, Ascensive Assets.