Frax Finance Launches Domain Name Service FNS

According to PANews, stablecoin protocol Frax Finance has announced the launch of its domain name service, FNS, which is now open for user applications. FNS is a branch of the Ethereum Name Service (ENS) within the Frax ecosystem. While it retains the core functionalities of ENS, FNS will burn FXS tokens. Annually, 1,000 three-letter FNS domain names will result in the burning of 1 million FXS tokens.