Frax
Perfil del Stablecoin
Frax (FRAX) es una stablecoin algorítmica — su anclaje a USD se mantiene mediante la mecánica del protocolo en cadena, no con reservas off-chain. Actualmente hay 212 M US$ en circulación a través de 22 redes blockchain. El mecanismo ajusta el suministro (acuñación y quema) en respuesta a las desviaciones del precio respecto al anclaje objetivo.
Acerca de Frax (FRAX)
Frax attempts to be the first stablecoin protocol to implement design principles of both collateralized and algorithmic stablecoins to create a highly scalable, trustless, extremely stable, and ideologically pure on-chain money.
Using the Frax Finance app, FRAX can be minted by locking USDC and burning FXS in a proportion determined by the protocol's collateral ratio.
Emisor y atestación
Frax (FRAX) is issued by Frax Finance protocol, operating under Decentralised, governed by FXS (now frxUSD/FXS) holders. Originally launched in 2020.
Composición de reservas
Historically a fractional-algorithmic design. As of 2023 the protocol voted to migrate to 100% collateralisation. Reserves include USDC, sDAI, and AMOs (algorithmic market operations).
Eventos notables de paridad
In February 2023 the community passed FIP-188 to raise the collateral ratio to 100% in response to the broader algorithmic-stablecoin reassessment after the Terra/UST collapse.
Informes de atestación de reservas
La información del emisor se recopila a partir de divulgaciones públicas, presentaciones regulatorias de NYDFS / BMA e informes de atestación de fuentes primarias. Verifica siempre directamente con el emisor antes de tomar decisiones.
Actividad reciente de suministro
Frax (FRAX) supply contracted by 125,7 mil US$ (-0.06%) in the last 24 hours, expanded by 9,3 M US$ (+4.59%) over the past week, and expanded by 12,5 M US$ (+6.27%) over the past 30 days.
Expansion phase: minting activity has outpaced redemptions, with circulating supply growing 6.27% over the past month.
Historial de Suministro
Network distribution
Frax circulates across 20 blockchain networks. Ethereum hosts the largest share at 84.96%, followed by Fraxtal at 6.98%. Near has shown the strongest 30-day growth at +12.77%, suggesting fresh issuance or bridge inflows on that chain.
| Cadena | Suministro | Cuota | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | 180,1 M US$ | 84.96% | -0.67% | +8.42% |
| Fraxtal | 14,8 M US$ | 6.98% | +0.50% | -9.70% |
| Harmony | 8,1 M US$ | 3.81% | 0.00% | 0.00% |
| Moonriver | 2,4 M US$ | 1.12% | 0.00% | 0.00% |
| Arbitrum | 1,9 M US$ | 0.89% | 0.00% | 0.00% |
| Near | 1 M US$ | 0.48% | 0.00% | +12.77% |
| BSC | 719 mil US$ | 0.34% | 0.00% | 0.00% |
| Avalanche | 616,7 mil US$ | 0.29% | 0.00% | 0.00% |
| OP Mainnet | 575,9 mil US$ | 0.27% | 0.00% | 0.00% |
| Moonbeam | 558,1 mil US$ | 0.26% | 0.00% | 0.00% |
| Fantom | 530,1 mil US$ | 0.25% | 0.00% | 0.00% |
| Polygon | 485 mil US$ | 0.23% | 0.00% | 0.00% |
| Boba | 70,5 mil US$ | 0.03% | 0.00% | 0.00% |
| Evmos | 66,6 mil US$ | 0.03% | 0.00% | 0.00% |
| Aurora | 48,3 mil US$ | 0.02% | 0.00% | 0.00% |
| zkSync Lite | 26,7 mil US$ | 0.01% | 0.00% | -0.00% |
| ZKsync Era | 19,2 mil US$ | 0.01% | 0.00% | 0.00% |
| Osmosis | 5,9 mil US$ | 0.00% | 0.00% | 0.00% |
| Solana | 2,9 mil US$ | 0.00% | 0.00% | -0.03% |
| Dogechain | 544,5 US$ | 0.00% | 0.00% | 0.00% |
Historial de estabilidad del anclaje
Frax (FRAX) relies on protocol-level supply rebalancing rather than direct asset redemption to defend its 1.00 USD peg. The spot price is currently $0.9928 (-0.717% deviation). Algorithmic designs carry materially higher peg-failure risk than reserve-backed stablecoins — the May 2022 Terra/UST collapse remains the canonical reference case.
Cómo las stablecoins algorithmic defienden su anclaje
Algorithmic stablecoins attempt to balance supply and demand through protocol-level mint/burn incentives — typically against a paired governance or seigniorage token. When the price drops below $1.00, the protocol burns supply (often by letting holders swap into a discounted asset); when it rises above $1.00, the protocol mints new tokens. This design only holds when the paired asset retains independent demand. If the market loses faith in the paired asset, the feedback loop reverses and produces a hyperinflationary "death spiral" — the failure mode that wiped out roughly $60B in the Terra/UST collapse.
Implicaciones prácticas para los tenedores
- Peg-failure tail risk is materially higher than reserve-backed designs. Position sizing should reflect this — algorithmic stablecoins are not a "cash equivalent" for risk-management purposes.
- Read the latest collateralisation ratio carefully: many "algorithmic" stablecoins have since migrated to partial or full collateralisation. The label can lag the actual mechanism.
- Reflexive feedback loops mean small redemption pressure can cascade. Exit liquidity should be assessed during normal conditions, not after stress begins.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (algorithmic) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Direcciones de contrato
Frax (FRAX) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Cadena | Dirección del contrato | Verificar |
|---|---|---|
| Ethereum | 0x853d955acef822db058eb8505911ed77f175b99e | Explorador |
Las direcciones de contrato provienen del perfil de stablecoins de DeFiLlama. Algunas cadenas (Tron, Solana, Aptos, Sui) usan formatos de dirección no EVM. El enlace "Explorador" abre el explorador de bloques oficial de la cadena correspondiente; no enlazamos a exploradores de terceros que puedan mostrar datos alterados.
Comparar Frax con otras stablecoins algorithmic
Below are the largest algorithmic stablecoins tracked on Mantapex alongside Frax (FRAX). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Suministro | Mecanismo | Cadenas |
|---|---|---|---|
| Bean (BEAN) | 33,4 M US$ | algorithmic | 1 |
| Neutrino USD (USDN) | 31,1 M US$ | algorithmic | 4 |
| SpiceUSD (USDS) | 18 M US$ | algorithmic | 4 |
| Mento Dollar (USDm) | 16 M US$ | algorithmic | 5 |
| Alchemix USD (ALUSD) | 13,7 M US$ | algorithmic | 4 |
Entre clases de mecanismos
If you're researching FRAX as part of a broader stablecoin allocation, it's worth comparing it across mechanism classes — each design has different counterparty, custody, and tail-risk profiles.
Estabilidad del Anclaje
Distribución por Cadena
Recursos y fuentes de datos
Frax (FRAX) is tracked across major crypto data providers. The links below open Frax (FRAX)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Noticias recientes de Frax
Latest reporting from major crypto news outlets covering Frax.
- Bitcoinist
Frax Governance Weighs Raising sfrxUSD Aave v4 Allocation Cap To $50 Million
Frax governance is considering a proposal to increase the sfrxUSD strategy allocation cap into Aave v4 to $50 million.
- Crypto news
Somnia taps Frax to launch USDso stablecoin for high-frequency DeFi
Somnia's new USDso stablecoin, issued by Frax Finance and backed by tokenized Treasuries, routes reserve yield back into Somnia's high-throughput DeFi ecosystem.
- Crypto Economy
Polygon, Frax, and Curve Ignite Onchain Forex With New Liquidity Pools
The collaboration between Polygon Labs, Frax Finance, Curve, and DFB Network marks a milestone in decentralized finance by introducing a suite of liquidity pools for the foreign…
- Blockonomi
Sonic Labs Launches USSD: A Network-Native USD Stablecoin Backed by BlackRock and Frax Infrastructure
Sonic's permissionless dollar stablecoin offers zero minting fees and cross-chain access from 10+ networks.
- The Block
Sonic Labs taps Frax infrastructure for native network stablecoin
Sonic Labs' USSD stablecoin is backed by tokenized Treasuries products from BlackRock, WisdomTree, and Superstate.
- Crypto news
Brazil lawmakers move to outlaw algorithmic stablecoins like USDe, Frax
Brazil advances a bill to ban algorithmic stablecoins and force all domestic issuers to fully collateralize tokens, tightening rules in a market where stablecoins drive 90% of…
- Coinspeaker
IQ and Frax Launch KRWQ, First Korean Won Stablecoin on Base Network
IQ and Frax introduced KRWQ, marking the debut of a won-pegged stablecoin on Base. The token uses LayerZero technology for cross-chain transfers.
- Crypto Economy
Frax and IQ Unleash the Revolutionary KRWQ Won Stablecoin on Coinbase's Base
TL;DR KRWQ becomes the first Korean won-pegged stablecoin on Coinbase's Base, developed by IQ and Frax with an institutional-grade and compliance-focused framework. It uses…
Stablecoins relacionadas
Stablecoins comparable to Frax by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Otras stablecoins algorithmic
Stablecoins vinculadas a USD
Mayores stablecoins por suministro
Aviso de Riesgo
Las stablecoins conllevan riesgos que incluyen la pérdida del anclaje, cambios regulatorios y riesgo de contraparte. Siempre diversifique y haga su propia investigación.