frax finance10
$frax
MCAP57.22M
-8.32%

what's frax finance?

Frax Finance is a decentralized finance (DeFi) protocol focused on creating stablecoins and yield-bearing assets. It issues the FRAX stablecoin, which maintains its peg through a hybrid collateralized and algorithmic mechanism, and the FXS token, which serves as the governance and value-accrual token for the ecosystem. Key features include the ability to mint and redeem FRAX with collateral like USDC, integration with lending markets and liquidity pools across multiple blockchains, and innovations like liquid staking derivatives such as frxETH. The project has expanded to include its own layer-2 chain called Fraxtal and partnerships with institutions like BlackRock for tokenized assets. Frax emphasizes capital efficiency, yield generation through savings tokens like sfrxUSD, and seamless cross-chain operations via bridges like LayerZero.

Snapshot

Frax faces potential Brazil ban while its supply grew and pools offer high yields.

contract

ethereum

polygon-zkevm

moonriver

arbitrum-one

avalanche

evmos

solana

harmony-shard-0

polygon-pos

binance-smart-chain

fantom

14H ago
ONCHAIN METRICS

Curve Finance pools pairing frxUSD with other stablecoins have generated over $500M in trading volume over the past 4 months.

ONCHAIN METRICS

frxUSD PegKeeper pool volume reached an all-time high nearing $200M in February 2026.

2D ago
MARKET ACTIVITY

FXS token is upgrading to FRAX token on HTX Global exchange.

4D ago
ONCHAIN METRICS

Achieved over $2 million TVL in the frxUSD/USDC Meta Vault pool on Curve Finance.

1W ago
TOKEN ECONOMICS

Forwards 100% of underlying yield to users.

MARKET ACTIVITY

A new frxUSD/OUSD Curve pool autocompounder launched on Harvest Finance, enabling single-transaction farming with a current APY of 7.48%.

MARKET ACTIVITY

frxUSD became a connector token on Aerodrome, enabling it to serve as a routing and liquidity pair for Base tokens.

PARTNERSHIP

Launched Alpha Enhanced frxUSD vault on Morpho with 0xAlphaping, reaching over $500k TVL, with exposure to Avant Protocol.

VISIBILITY EVENT

17 protocols paired their stablecoin with frxUSD as a default stablecoin pair, with deep liquidity incentivized by underlying Treasury yield.

PARTNERSHIP

Integrated with Term Labs as a PegKeeper for their tmvUSDC stablecoin, using frxUSD to support tmvUSDC's meta vault token operations.

MARKET ACTIVITY

Launched frxUSD/tmvUSDC liquidity pool on Curve Finance, with incentives starting February 16, 2026. Reached $2 million TVL.

VISIBILITY EVENT

Featured in a scheduled show or interview segment at 11:30am ET on February 16, 2026, discussing frxUSD yield-forwarding stablecoins.

VISIBILITY EVENT

Featured in The Rollup Co media coverage discussing recent developments in DeFi protocols.

2W ago
PARTNERSHIP

Integrating frxUSD as productive collateral on Aave, with underlying yield flowing back to Aave users.

PARTNERSHIP

Integrated frxUSD with EtherFi Cash card, reaching 50 users who prefer frxUSD.

TECH EVENT

Launched @proofoflobster, an authentication check tool for agentic posts to assess whether they are human or AI generated.

ONCHAIN METRICS

Reached nearly $10M TVL in the pmUSD PegKeeper pool over the past month.

3W ago
REGULATORY

Faces potential ban in Brazil as congressional committee approved Bill 4,308/2024, which prohibits algorithmic stablecoins without full backing and introduces criminal penalties of up to eight years in prison for issuing unbacked stablecoins.

ONCHAIN METRICS

Outstanding supply crossed $100M over the past 2 weeks.

ONCHAIN METRICS

The FXS–FRAX liquidity pool on Ethereum has reached $2.22M in TVL with a current APY of 20.62% and a 30-day average APY of 33.35%.

ONCHAIN METRICS

frxUSD/USDe pool with KyberNetwork yields 14% APR, processes daily trading volume exceeding its total value locked.

1M ago
MARKET ACTIVITY

Avant Protocol launches liquidity pools involving frxUSD on Curve Finance (Ethereum) and Etherex (Linea).

ONCHAIN METRICS

The frxUSD/OUSD pool on Curve Finance surpassed $1M in TVL within one week of launch, with LPs earning up to 19.7% APY through co-incentives from Frax Finance and Origin Protocol.

VISIBILITY EVENT

Teased the return of frxUSD to DeFi, increasing awareness of the stablecoin product without specifying concrete deployment details or timeline.

PARTNERSHIP

Integrated with infiniFi as a PegKeeper stablecoin, launching a frxUSD/iUSD liquidity pool on Curve Finance.

MARKET ACTIVITY

Added to Crypto.com's TWAP Trading Bot, bringing the total number of supported coins to over 200.

MARKET ACTIVITY

Recurring Buy feature for FRAX token is now available on Crypto.com App with options for daily, weekly, bi-weekly, or monthly automated purchases.

MARKET ACTIVITY

Token price increased 60% to $1.25 on January 15, 2026.

MARKET ACTIVITY

Listed on Binance with support for Spot, Margin, Futures trading, Earn products, and Buy Crypto services.

MARKET ACTIVITY

Offers borrowing of frxUSD against WBTC collateral at 0.75% APR on the lending platform.

PARTNERSHIP

Launched a new PegKeeper pool pairing with pmUSD (precious metals USD stablecoin from Raacfi), with incentives offering up to 200% APY.

MARKET ACTIVITY

FXS perpetual contracts delisted from Crypto.com Exchange on 2026-01-12 at 08:00 UTC.

PARTNERSHIP

Partnered with dTRINITY_DeFi for DeFi innovation on Fraxtal.

ONCHAIN METRICS

Reached 1M veFXS in governance power delegated to Stake DAO.

2M ago
VISIBILITY EVENT

Nominated for Best In Stablecoins award by The Rollup, with the winner to be announced on December 30th, 2025.

TECH EVENT

Launched commemorative NFT collection called Fraxiversary Collection on Fraxtal, backed by real assets, to mark the protocol's fifth anniversary on December 20, 2025.

frxUSD and sfrxUSD launch on Solana network with LayerZero integration for cross-chain functionality.

frxUSD and sfrxUSD are now available on Solana network, powered by LayerZero cross-chain infrastructure.

Frax Finance migrates voting incentives to Votemarket platform for governance operations.

Frax Finance partners with Colossus Pay as an issuing partner for a closed-loop stablecoin payment network on Ethereum L2 that enables non-custodial payments at EMV terminals, alongside Solayer Labs and Kraken.

Frax serves as infrastructure and issuance provider for KrwqCash, the first KRW stablecoin live on Base network with real liquidity and usage onchain.

Latest Votemarket veFXN round distributes $26K in rewards across 8 campaigns with 6 active protocols participating including MetronomeDAO, protocol_fx, SmarDex, AlchemixFi, and asymmetryfin.

frxUSD partners with DEIN_fi to serve as collateral for DeFi insurance products alongside USDC and USDT.

New incentivized frxUSD/wBLT liquidity pool goes live on Deli Swap by BMXDeFi on Base blockchain.

frxUSD and sfrxUSD launch on Stable Mainnet at day one through LayerZero and Stargate Finance integration, with a Stable Fraxlend deployment planned to enhance utility.

Deployed Fraxlend on Stable Mainnet with frxUSD, sfrxUSD, and OFT assets via LayerZero and Stargate Finance; added liquidity, reducing borrow rates and enabling leveraged borrowing.

Upgraded FXS to FRAX token on Bitget, with FRAX serving as gas for Fraxtal L1, a high-performance EVM chain for scalable, ultra-low-fee payment and DeFi applications.

The frxUSD PegKeeper pool for Curve Finance crvUSD surpasses $30M TVL and offers up to 14% APR.

Rarible integrates Fraxtal, enabling users to collect, trade, and launch Fraxtal NFTs with points rewards for every trade and 3 upcoming drops planned.

3M ago

New partnership with protocol_fx creates fxUSD/frxUSD liquidity pool on Curve Finance following passed governance proposal.

Chaos Labs now independently verifies frxUSD's Proof of Reserves in real-time, enhancing transparency and security standards.

Three new Curve pegkeeper incentive campaigns go live on Votemarket with $136K in rewards across crvUSD/frxUSD ($56K), crvUSD/USDC ($40K), and crvUSD/USDT ($40K) pools, enabling veCRV holders to earn YB and wFRAX.

Votemarket launches incentive campaigns for crvUSD/frxUSD Curve pool with $56K in rewards, enabling veCRV holders to earn YB and wFRAX.

frxUSD backs Canton Network's CUSD through collaboration with the Send team, operates as a validator on Canton Network, a privacy-first chain targeting institutional adoption.

Partnership with institutional stablecoin issuance platform Brale announced to integrate frxUSD for their institutional customer base.

KRWQ, a project built on FraxNet infrastructure by the IQAI team, surpasses ₩1B in trading volume.

New partnership with MetronomeDAO launches msUSD/frxUSD pool on Curve Finance with incentives.

A frxUSD/fxUSD pairing with protocol_fx is about to launch as a collaborative stablecoin initiative.

sfrxUSD becomes available as collateral on Featherlend (Morpho Labs-powered platform) on Sei Network with active Frax incentives for borrowing.

Asymmetryfin launches USDaf (Liquity v2 fork) with sfrxUSD as borrowing collateral, and frxUSD/USDaf becomes a top Curve Finance stable pool.

Asymmetry Finance's USDaf protocol (Liquity v2 fork) accepts sfrxUSD as borrowing collateral, and frxUSD/USDaf becomes a top-performing Curve stable pool.

frxUSD sees net inflows on affected chains as flight to safety during industry-wide stablecoin backing concerns this week, with full backing confirmed.

frxUSD experiences net inflows on affected chains as users move funds to perceived safety amid broader stablecoin backing concerns this week. The project confirms frxUSD remains fully backed and secure during the market uncertainty.

$10M worth of sfrxETH (2,405 tokens) stolen in $117M Balancer exploit affecting multiple chains. The hacker actively converts stolen liquid staking tokens to ETH.

Wallet tracking reveals $9M sfrxETH position alongside $27M osETH and $20M wstETH holdings in single address, with additional wallets showing $9M sUSDe/USDe positions on Berachain.

Balancer protocol hacked with ~$100M in assets exploited, including 2,443 frxETH tokens among the stolen assets.

Launches FraxNet to provide institutional-grade stablecoin access.

Partnership with Bridge team revealed as the provider of orchestration infrastructure powering the FraxNet neobank platform over the past few months.

sfrxUSD integrates with Equilibria offering 250% vePENDLE boost and 28% boosted APY on Pendle yields.

4M ago

Top pool on Curve Finance is now frxUSD/deUSD powered by Elixir, which brings funds from BlackRock, Hamilton Lane, and other institutions to DeFi.

New liquidity pools launch: frxUSD/deUSD LP with Elixir offering boosted CRV rewards through Staking V2, and msUSD/FRAXBP LP with MetronomeDAO on Stake DAO yielding 13% APR.

IQ partners with Frax Finance to launch KRWQ (KrwqCash), the first tradeable Korean Won stablecoin on Base network with multi-chain support.

MorphoLabs integration on Katana launches with frxUSD vault and sfrxUSD/USDC market at 0% borrow rate.

Integration with Morpho Labs on Katana goes live with frxUSD vault and sfrxUSD/USDC market offering 0% borrow rate.

Frax Finance releases FraxNet, a multichain on-chain money account for frxUSD.

Stake DAO Treasury deploys over $1M into frxUSD/crvUSD Pegkeeper pool on Curve Finance. TVL across all frxUSD pools on crvUSD increases significantly.

Frax is now available on Katana DEX with reward opportunities for users.

Frax AF launches as a co-incentivized LP between Frax Finance and Asymmetry with frxUSD/USDaf stablecoin pair, featured in Curve Finance's 'Best Yields of the Week'.

Curve Finance uses frxUSD to maintain crvUSD peg alongside USDC and USDT. New Frax AF co-incentivized LP launches between Frax Finance and Asymmetry with frxUSD/USDaf pool.

Launches KRWQ, the first Korean won stablecoin on Base chain in collaboration with IQ AI.

The frxUSD/crvUSD pool on Curve becomes the #1 strategy on StakeDAO, with over $11M TVL deposited since this morning.

Partnership announced between Frax and Colossus Pay, described as collaboration between payment infrastructure upgrading and money upgrading.

Partners with nearly all Ethereum-listed institutional DeFi teams to bring institutions on-chain via FraxNet and frxUSD.

SushiSwap integration on Katana network offers 40%+ APR on stable pools pairing sfrxUSD with AUSD.

frxUSD pools launch on SushiSwap on Katana network offering 40%+ APR on stable pools with sfrxUSD and AUSD.

SushiSwap on Katana network hosts frxUSD pools with sfrxUSD/AUSD pairs earning 40%+ APR.

YieldBasis CRV incentives go live on gauges in 2 days, with Stake DAO Staking V2 deposits opening Thursday morning for boosted yields on frxUSD/crvUSD pools powered by OnlyBoost.

Founder appears on Bankless to discuss FraxNet as a crypto neobank and open infrastructure platform.

FraxNet launches as a multichain stablecoin account platform for minting, redeeming, and earning with frxUSD, with new farms available.

frxUSD goes live on 20 chains simultaneously on day one, integrating LayerZero's OFT standard for omnichain deployment.

FraxNet goes live as a hub for frxUSD stablecoin operations including minting, redeeming, and earning.

FraxNet launches as a dedicated platform for minting, redeeming, and earning with frxUSD.

YieldBasis launches $185,000 in YB incentives on VoteMarket for veCRV voters to support frxUSD/crvUSD and other crvUSD stablecoin pools on Curve Finance.

Infinifi Labs launches iUSD stablecoin backed by FRAX, USDC, and USDT with automatic DeFi yield staking, offering PT-iSUD loops with 60% ROE on $100k margin.

An event involving a project tagged alongside Frax reaches $825m (0.4% of Tether's market cap) and hits full capacity in 6 minutes with only 270+ addresses participating.

Multi-protocol collaboration launch between Tether, Frax, Morpho, Concrete, and Pendle for the stable ecosystem fills quickly with strong demand.

Stable platform launches pre-deposits, accepting only USDT and frxUSD for its institutional and payment infrastructure.

Curve Finance founder Michael Egorov proposes to scale yieldbasis by growing crvUSD pools with USDC, USDT, and frxUSD.

frxUSD issues natively on Linea blockchain with distribution through MetaMask and liquidity from Etherexfi in a collaborative partnership.

Frax launches on Katana with new SushiSwap liquidity pools for frxUSD/sfrxUSD and frxUSD/AUSD pairs, featuring KAT token incentives.