DescriptionThe Frax Price Index (FPI) is the second stablecoin of the Frax Finance ecosystem. FPI is a stablecoin pegged to a basket of real-world consumer items as defined by the US CPI-U average.

Category:algorithmic

Minting and RedemptionUsing the Frax Finance app, users swap FRAX to mint FPI at the current exchange rate. FPI can be redeemed for FRAX at any time.