$FRAX FRAX (recently rebranded from FXS) is no longer just about being a "governance token" for a stablecoin; it has evolved into the native utility asset for an entire blockchain ecosystem.

FRAX is transforming from a DeFi experiment into core financial infrastructure. Its success in 2026 hinges on Fraxtal’s network growth and its ability to remain the preferred choice for institutional-grade DeFi.