Dear community users:
Zhenbi will launch the FXS/USDT aggregation trading pair on February 18, 2021 at 17:05 (UTC+8).
Since FXS is an aggregated trading currency pair, it is temporarily closed for charging and withdrawing coins. The opening time of charging and withdrawing coins will be further announced in an announcement.(For more details on the converged exchange currency rules at the end of the article)
About the FXS (Frax Share)
Frax is an algorithmic stablecoin whose supply is partly backed by collateral and partly stabilized by algorithms.Frax Share Token (FXS) is an unstable governance token for the Frax protocol.Token holders have governance authority to add/adjust collateral pools, set casting/redemption fees, and update rates to change collateral rates.
Blocks the browser: https://cn.etherscan.com/token/0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0
The white paper: https://docs.frax.finance/overview
About the converged exchange coin pair
As for the coins purchased/sold by users in Zhenbi, the aggregated trading system will hedge the purchase/sale of the same amount in other exchanges, so the assets purchased by users are still the real assets with sufficient reserves, and users can trade at rest.
Aggregated transaction is a very mature transaction mode in the industry. The purpose of Zhenbi's launch of Aggregated Transaction is to quickly meet users' demand for trading new hot assets.
Zhenbi's aggregated trading system uses local matching of external hedges, so the latency and experience are exactly the same as for local trading pairs.
Zhenbi will evaluate the number of users holding coins in the corresponding currency.Aggregate transactions with a large number of currency holders will consider docking supporting wallets after passing the review, so as to meet the demand of currency holders.
Digital assets are innovative investment products with large price fluctuations. Please judge your investment ability rationally and make investment decisions prudently.
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Zhenbi operation team
February 18, 2021