> For the complete documentation index, see [llms.txt](https://docs.frax.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.frax.finance/fxs-and-vefxs.md).

# FXS & veFXS

- [Frax Shares (FXS)](https://docs.frax.finance/fxs-and-vefxs/seigniorage.md): FXS is the staking and governance token of the entire Frax ecosystem. All utility is concentrated into FXS and its locked variant, veFXS.
- [veFXS](https://docs.frax.finance/fxs-and-vefxs/vefxs.md): Locked FXS that provides voting power and other benefits
- [Gauges](https://docs.frax.finance/fxs-and-vefxs/gauge.md): Gauge weighted system for controlling FXS emissions
- [FXS Distribution](https://docs.frax.finance/fxs-and-vefxs/frax-share-fxs-distribution.md): The distribution of FXS across the system
- [FXS Smart Contract & Addresses](https://docs.frax.finance/fxs-and-vefxs/fxs.md): Modified ERC-20 Contract representing the FXS token, which is used for staking and governance actions surrounding the FRAX stablecoin.