Frax USD
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Protocol TVL
Fees & Revenue
Chain Fees Distribution
Revenue Breakdown
About Frax USD
Frax USD (frxUSD) is a fully collateralized stablecoin issued by Frax Finance, combining off-chain custodians holding cash-equivalent reserves with on-chain minting and redemption mechanisms
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Frax USD codebase lineage and protocol family
Frax USD is published as a versioned release inside the Frax Finance protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.
Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.
Parent Protocol
Frax USD is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.
Frax FinanceFrax USD Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Aug 19, 2025Listed on DeFiLlama
Protocol Profile
Frax USD operates in the RWA category of DeFi. It is deployed on Ethereum. No public audit reports are listed on DeFiLlama for this protocol.
TVL Distribution by Chain
Supported Chains
Protocol Footprint
Frax USD is a single-chain protocol, deployed exclusively on Ethereum — this concentrates execution risk but simplifies the trust model. No public audit reports are linked from DeFiLlama for this protocol despite a non-trivial TVL — treat any deposit as carrying material smart-contract risk.
Official Resources & Links
Verified external resources for Frax USD — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other RWA protocols on Mantapex
Frax USD is one of 7 RWA protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Tether Gold, BlackRock BUIDL, Paxos Gold, and 3 more. These peer protocols collectively secure $14.3B in deposits, giving you a frame of reference for whether Frax USD's own TVL is at the top, middle, or tail of the category.
Treasury
Recent Frax USD news
Latest reporting from major crypto news outlets covering Frax USD.
- Cryptonews
Securitize Proposes BUIDL Token as Collateral for Frax USD Stablecoin
Securitize, the brokerage behind the tokenized BlackRock fund, has proposed adding BUIDL as collateral for the Frax USD stablecoin. The post Securitize Proposes BUIDL Token as…
- The Block
BlackRock's BUIDL approved as backing token for Frax USD stablecoin
Frax's frxUSD stablecoin is launching after its DAO approved a measure to make BlackRock's BUIDL the backing token.
- Crypto Economy
Frax Finance Vote on BlackRock's Fund as Reserve for Frax USD Now Live
TL;DR Frax Finance community is voting on adopting BlackRock's BUIDL as a reserve asset for the proposed stablecoin, Frax USD (frxUSD), with voting open until January 1, 2025. The…
- Cryptopolitan
Securitize proposes using BlackRock's BUIDL token to back Frax USD stablecoin
Securitize is brokering a deal for BlackRock's BUIDL token to be integrated as collateral for the soon-to-be-released Frax USD stablecoin.
- Cointelegraph
Securitize proposes BlackRock BUIDL fund as collateral for Frax USD
According to RWA.XYZ, BlackRock's US dollar Institutional Digital Liquidity Fund has roughly $549 million in assets under management.
- The Block
Securitize proposes adding BlackRock's BUIDL token as Frax USD stablecoin backing
Frax's upcoming frxUSD stablecoin would follow in the footsteps of stablecoins such as Ethena's USDtb in adopting BUIDL as a backing asset.
- Crypto news
Frax Finance opens community voting until Jan. 1 to adopt BlackRock's BUIDL for new stablecoin
The voting period to onboard BlackRock's USD Institutional Digital Liquidity Fund as a reserve asset for Frax Finance's new stablecoin, Frax USD, opens on Dec. 27 until Jan. 1,…
- Bitcoin
Frax Finance Eyes Blackrock's BUIDL Token as Next-Gen Reserve Asset
Frax Finance, the issuer of the stablecoin frax usd (FRAX), which currently holds the ninth spot among fiat-pegged tokens by market capitalization, is weighing the addition of…
Related protocols
Other DeFi protocols connected to Frax USD by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other RWA protocols
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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