Rank #21FRAXAlgorithmic

Frax

Pegged to

USD

Market Cap

$650.00M

24h Volume

$15.00M

Circulating Supply

650.00M FRAX

Total Supply

650.00M FRAX

Peg Target

USD

Collateral Type

Algorithmic

Issuer

Frax Finance

Launch Date

21-12-2020

About Frax

Frax (FRAX) is a fractional-algorithmic stablecoin from Frax Finance, pioneering a model that combines collateralised and algorithmic stability mechanisms. Initially launched as partially algorithmic with a variable collateral ratio, FRAX has since moved to near-100% collateralisation (Frax v3). Frax Finance operates a comprehensive DeFi ecosystem including frxETH (liquid staking), Fraxlend (lending), Fraxswap (AMM), and Fraxferry (cross-chain bridging). The protocol is governed by veFXS holders who direct gauge rewards and protocol parameters.

Supported Blockchains

Ethereum Arbitrum Optimism Polygon Avalanche BNB Chain

Pros

Comprehensive DeFi ecosystem
Innovative stablecoin model
Strong revenue generation
Active development and iteration

Cons

Complex tokenomics (FXS, veFXS, FPI)
Historical reliance on algorithmic component
Governance concentration concerns
Model has evolved significantly — can confuse users

Key Features

Fractional-algorithmic design (v1/v2)

Near fully collateralised (v3)

Integrated DeFi ecosystem (frxETH, Fraxlend)

frxETH liquid staking derivative

veFXS governance model

Multi-chain deployment

Stablecoin Information

Community & Socials

Website Twitter / X Discord Telegram GitHub