Frax jumps 60% as Binance announces they have completed the FXS to FRAX token swap and enabled FRAX markets for their Earn, Buy Crypto, Convert, Margin & Futures products.

Binance has completed the previously announced mainnet swap and rebrand of Frax Share (FXS) to Frax (FRAX) and has fully integrated the new FRAX token across its main trading and yield products, coinciding with a sharp price move in the asset. According to Binance and third‑party coverage, all user balances of the legacy FXS token on Binance were automatically converted to FRAX at a 1:1 ratio, as part of Frax Finance’s broader token architecture overhaul and the “North Star” upgrade that turned FRAX into the native gas and base asset of the Fraxtal Layer 1 blockchain. Binance delisted FXS trading pairs, handled the technical migration, and then opened deposits, withdrawals, and trading for FRAX, including at least a FRAX/USDT spot pair. With the swap complete, FXS is no longer supported on Binance, and FRAX now carries the former FXS listing slot. Post‑migration, Binance enabled FRAX across multiple product lines—such as Earn, Buy Crypto, Convert, Margin, and Futures—significantly expanding the token’s accessibility and potential liquidity on one of the largest global exchanges, which in turn tightened liquid supply on the market and coincided with a reported intraday price jump of around 60% for FRAX (previously FXS). This integration matters because FRAX, now a fixed‑supply, commodity‑like asset used for gas fees, validator incentives, and as the monetary base of the Fraxtal ecosystem, replaces the old governance‑oriented FXS design and becomes central to how users interact economically with Frax’s new Layer 1 infrastructure. The move fits into a broader trend of protocol token consolidations and rebrands that seek clearer token economics and deeper exchange support.

✨ AI-generated background, compiled from web sources — not editorial content.

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