Frax USD (FRXUSD) is a stablecoin pegged to the value of the US dollar, designed to maintain a 1:1 ratio with the USD to provide stability in the volatile cryptocurrency market. It is backed by a combination of collateral assets and algorithmic mechanisms to ensure price stability. FRXUSD aims to offer a reliable medium of exchange and store of value for users looking to mitigate the risks associated with traditional cryptocurrencies.