Dear Frax Finance community , I am a holder of the

Question

Dear Frax Finance community , I am a holder of the

Frax Share (FXS) token, which I currently store in cold storage. Recently, I came across discussions in the Telegram channel mentioning a potential name change from FXS to Frax. I have several questions regarding this development:

1. Is there an official plan to rename the FXS token to Frax?

2. If so, what is the expected timeline for this change?

3. As a token holder with assets in cold storage, will this name change require any action on my part, or will it be implemented automatically?

4. Are there specific steps I need to follow to ensure my holdings remain secure and correctly updated during this transition?

I appreciate your guidance on these matters to ensure I manage my holdings appropriately.

Thank you for your assistance.

#cryptocurrency #english #frax

0

07.11.2024

6 ответов

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Yelena Автор вопроса

Sam Kazemian ¤⛓️¤
1.) We haven't announced anything yet in terms of ...

Thank you very much for the detailed response; I appreciate the clarification. I’m currently considering purchasing additional FXS due to the price decline. However, I’m a bit uncertain about the timing given the upcoming updates. Based on past experiences with other tokens, I’ve encountered challenges with token transitions, so I want to avoid potential complications here. Would you recommend purchasing FXS now, or would it be wiser to wait until the new token details are fully released? Any advice you could offer would be greatly appreciated to help me make an informed decision. Thank you once again for your guidance.

0

1 месяц назад

PilotVietnam

Sam Kazemian ¤⛓️¤
1.) We haven't announced anything yet in terms of ...

ser I heard this right that FXS will not lose any value........

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1 месяц назад

Sam Kazemian ¤⛓️¤

Yelena
Thank you very much for the detailed response; I a...

We don't give investment advice so up to you and usually those convos are segregated to the price/trading group here @fraxtrading But in terms of technical things and what we're releasing next month, I can assure you with confidence there won't be any complications or mishaps. Frax has an excellent track record of doing everything right with tokens, cross chain issuance, and proper upgrades without any issues ever in the past nor requiring users to do anything that's complicated. That's not investment advice, but just clearly saying it will be very smooth and not like the confusing/botched issues other projects have suffered from. 🙏

0

1 месяц назад

Yelena Автор вопроса

Sam Kazemian ¤⛓️¤
We don't give investment advice so up to you and u...

Thank you very much. Yes I forgot to insert NFA🙏

0

1 месяц назад

sparkes25

Yelena
Thank you very much for the detailed response; I a...

you are are thinking about buying now or waiting for more details before buying i would say its generally a good idea to buy a small amount and then adjust the size of your investment later once you have the extra details. thats for FXS or any project your looking at. you can always adjust your position back to 0 if you dont like the updated details.

0

1 месяц назад

Sam Kazemian ¤⛓️¤ · Accepted Answer

1.) We haven't announced anything yet in terms of the FXS token upgrade but there will be details in the Vision 2030 Roadmap release in early December. 2.) You don't have to worry about needing to do anything at all with your FXS, it won't be deprecated or stop working, nor lose any value. It will continue to exist and be upgraded whenever users desire. You can continue to store it in cold storage for as long as you like. 🙂 You can rest assured that we would never require a user to perform any action or lose their token value in any kind of upgrade, any place you see that says so is likely a scam. All Frax tokens are non-custodial and trustless. If you hold them in cold storage, you can upgrade them later without worrying that you missed anything. 👍️️️️️️

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