Frankencoin Pool Shares are the governance token of the system. Anyone can obtain newly minted FPS by providing equity capital to the system (or later return them again to get their share of capital back). The FPS holders benefit from the earned fees and liquidation profits, but they are also the ones that carry the residual risk of liquidations, similar to the shareholders of a bank. Therefore, FPS holders have an incentive to grow the system and ensure its stability. The governance process is veto-based: anyone can propose new types of collateral or even completely new methods to bring Frankencoin into circulation, but already 2% of the voting power suffices to veto such proposals.

The WFPS is a wrapped token of the FPS, equivalent in price to the FPS, but without voting rights. Its advantage is that it is more suitable for trading on exchanges.