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Frax Finance (FXS) Launches veFPIS Staking: What Does This Mean?

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.fraxfinance $FXS launches new staking option on Feb. 20 w/ 0xpibblez FraxFinance

veFPIS staking will be available from Feb. 20, 2023. FPIS and veFPIS utility will be associated with the mechanism of The Frax Collateral Ratio . This indicator is a ratio of FRAX stablecoins directly backing FPI assets.

Thanks to the dynamic and flexible architecture of the mechanism, any extra economic productivity will be distributed between FPIS holders.Twitter user @0xpibblez mentioned that some accounts have already started accumulating FPIS tokens in hopes of future benefits.In the last 24 hours, the price of Frax Price Index Share surged from $1.8 to $2.3.

Two other tokens of the Frax Finance ecosystem are also in the green zone: while Frax Share is up 10%, Frax Price Index added 1.5% in the last 24 hours.

 

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