Frax USD
FRXUSD Rank #283Price chart
What is Frax USD?
Reserve design
frxUSD targets one US dollar per token. Reserve assets support issuance on a fully backed, one-for-one basis. Approved collateral includes tokenized cash-equivalent products rather than the original FRAX system's fractional algorithmic model. Each permitted reserve asset is administered through its own custody arrangement. A collateral's approval does not mean every frxUSD reserve currently holds that asset.
Custodians and contracts
Enshrined custodian contracts coordinate token minting and burning against verified reserve value. Individual custodians operate within configured issuance limits. This separates the stablecoin's shared settlement token from the institutions providing its collateral. Frax governance delegates issuer compliance and reserve responsibilities to Frax Inc., a public benefit corporation. Redemption depends on the supported route, collateral availability and its applicable terms.
Use and supply
frxUSD supplies dollar-denominated liquidity for payments, trading and decentralized finance. Its supply expands through backed issuance and contracts when tokens are redeemed and burned. It has no mining schedule or predetermined scarce maximum. The token operates across multiple supported networks. Frax offers yield-related products around this liquidity, with returns determined by the selected product rather than a universal fixed frxUSD interest rate.
Where to trade FRXUSD
16 exchanges · top 10
Live spot quotes from connected exchanges
FRXUSD funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.