The Frax Protocol is a pioneering decentralized stablecoin ecosystem that seamlessly integrates traditional finance principles with innovative decentralized finance (DeFi) features. At its core lies FRAX, a unique fractional-algorithmic stablecoin that is pegged to the US dollar and fully crypto-collateralized, ensuring stability and reliability for its users. The protocol also introduces the Frax Price Index (FPI), a novel stablecoin pegged to a diverse basket of consumer goods, which establishes a groundbreaking unit of account independent of nation-state currencies. Enhancing the platform's utility, frxETH serves as an ETH-pegged stablecoin that caters specifically to smart contract interactions. This expands the potential use cases of the Frax ecosystem, making it an attractive option for developers and users alike. To facilitate robust transactions and lending, the ecosystem features subprotocols like Fraxswap, a permissionless automated market maker, and Fraxlend, a non-custodial lending platform. Governance within the Frax Protocol is empowered through two distinct tokens: Frax Share (FXS) and Frax Price Index Share (FPIS), enabling users to engage actively in the decision-making processes that shape the protocol's future. With its innovative approach to stablecoins and DeFi, the Frax Protocol positions itself as a significant advancement in the cryptocurrency landscape, appealing to stablecoin users and investors seeking reliability, utility, and an engaging governance structure. This unique blend of features addresses common inquiries regarding stablecoin mechanics, utility in DeFi applications, and user involvement, making it an integral component of the evolving digital asset space.