Frax Share (FXS) was the governance token of Frax Finance, a decentralized stablecoin protocol. The token’s visual identity was tied directly to the Frax brand mark, a circular emblem that the project describes as the ASCII symbol for a nationless currency. In late 2024, Frax Finance announced a major rebrand in which Frax Share (FXS) was renamed to FRAX, and the FXS logo was retired in favor of the existing FRAX logo.
Design and History
Frax Finance launched in 2020 as a two-token system: a stablecoin called Frax (FRAX) and a governance token called Frax Shares (FXS).[1] The FXS token shared the Frax brand mark, a circular emblem that the project has described as the ASCII symbol for a nationless currency.[2]
On December 11, 2024, Frax Finance announced a new vision roadmap that included a logo update and token renames.[3] The project stated that Frax Shares (FXS) would “realign with our core brand and become FRAX.”[2] The official governance proposal confirmed that “the current FRAX logo will replace the FXS logo” and that “the FXS logo will not be used anywhere going forward.”[4]
The rebrand was part of a broader effort to unify branding and reduce confusion, with FXS renamed to FRAX and the original FRAX stablecoin renamed to frxUSD.[5][4]
Meaning and Symbolism
Frax Finance has stated that its logo embodies its mission, noting that “many don’t know it’s the ASCII symbol for a nationless currency.”[2] The mark has been described as a target or crosshair design, rendered in black and white.[6]
Typography and Design
Frax’s brand guidelines specify that official logos should be used in vector (SVG) or raster (PNG) formats, with priority given to official brand colors.[7] The brand is described as strictly black and white in its mark.[6] Frax provides a media kit with all logos available for download through its documentation.[8]
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