Issuer of frxUSD (~$600M market cap). Rebranded from FRAX. frxETH liquid staking.
Overview
Ticker
FRAX
Backing type
Multi-collateral
Market cap
$650M+
Peg currency
USD
Issuer
Frax Finance
Auditor
On-chain verifiable (audits by Trail of Bits, Certora)
Yield rate
~5% via sFRAX
Launch year
2020
Reserves
USDC, Frax-owned AMO liquidity, real-world assets, sFRAX T-bill yield
Supported Chains
EthereumArbitrumOptimism
Regulatory
MiCA compliant
No
Jurisdiction
Decentralized (Cayman Islands)
Features
Programmable✓
Rebaseable—
Permissioned—
Cross-chain✓
DeFi integrated✓
Institutional grade—
Use Cases
DeFi liquidity provisionYield farmingAlgorithmic monetary policyfrxETH ecosystem collateral