← Frax Finance
FRAX FRAX deprecated
Issued by Frax Finance · Launched 2020
Market Cap $274M

FRAX was the original fractional-reserve algorithmic stablecoin by Frax Finance, later fully collateralized via BlackRock's BUIDL fund before transitioning to frxUSD.

Key Data

BackingFully backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), investing in cash, U.S. Treasury bills, and repurchase agreements.
RedemptionSuperseded by frxUSD; FRAX holders can migrate.
Peg CurrencyUSD
Launched2020

Supported Networks

Ethereum

Overview

FRAX was the original stablecoin from Frax Finance, initially launched in December 2020 as a fractional-reserve algorithmic stablecoin. It has since been replaced by frxUSD.

How It Works

FRAX originally combined algorithmic and collateralized approaches. It later shifted to full collateralization via BlackRock's USD Institutional Digital Liquidity Fund (BUIDL).

Reserve Backing

The stablecoin was fully backed by assets in BlackRock's BUIDL fund, marking a shift from the original fractional-reserve model.

Supported Networks

FRAX was built on the Ethereum blockchain. It has been superseded by frxUSD.

Market data via CoinGecko