What is the difference between FXS and FRAX?

As a financial analyst delving into the nuances of cryptocurrencies, I'm curious to understand the fundamental differences between FXS and FRAX. Could you elaborate on the key distinctions between these two digital assets? I'm particularly interested in their underlying mechanisms, use cases, and how they differ in terms of stability, liquidity, and overall market positioning. Additionally, I'd like to know if there are any notable differences in their governance models or tokenomics that could impact their long-term success. Understanding these distinctions is crucial for making informed investment decisions in this rapidly evolving digital asset landscape.