$FXS has exceeded two dollars, be careful standing on the mountaintop. Frax (FRAX) is a partially algorithmic stablecoin, with part of its supply backed by collateral and part stabilized by algorithms. The ratio of collateral depends on the market price of the FRAX stablecoin. If the trading price of FRAX is higher than 1 dollar, the protocol will decrease the collateral ratio. If the trading price of FRAX is lower than 1 dollar, the protocol will increase the collateral ratio.