Frax Finance will undergo a North Star upgrade, and Frax Share will be renamed Frax and used as a gas token

According to official sources, the decentralized stablecoin protocol Frax Finance announced that it will conduct a North Star upgrade at noon PST on April 29th (expected early morning Beijing time on April 30th). Through this upgrade, Frax Share (FXS) will be renamed Frax and become the gas token of Fraxtal, replacing frxETH. And as the only commodity token used to ensure security in the ecosystem. FXS held on Fraxtal will be automatically converted to FRAX in a 1:1 ratio, while FXS held on Ethereum must be bridged to Fraxtal for conversion on or after April 29th.