Frax USD

Frax USD

FRXUSD #244
BB 67% Token Watch

Project Safety Score: 67%

Updated 1 day ago
Frax USDFRXUSD
Market Cap$138418396
24hr Volume$4137112
24hr Change0.0%
Price$0.999646
Coverage: 5 buckets · 100% resolved
Concerns raised - see Red Flags below
Scoring rubric: Smart-Contract Token - scored on contract safety, liquidity, holders, team, social
Liquidity
& Market
78 A
67% · medium
Team
Credibility
66 BB
60% · medium
Social
Behavioral
68 BB
50% · low
Contract
Mechanics
97 AAA
100% · medium
Holder
Distribution
26 D
100% · medium

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FRXUSD Frax USD Details
Type
stablecoin
Launched
2025
Team
Unknown

Frax USD (frxUSD) is a fiat-redeemable stablecoin issued by the Frax Finance Protocol. It is described as fully-collateralized and backed by cash-equivalent reserves.

The system uses a hybrid model in which governance-approved enshrined custodians mint and redeem frxUSD. It also relies on onchain mechanisms developed by the Frax Finance Protocol to support stability, security, and usage in DeFi and traditional financial systems.

Risk Report

Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.

Peg stability score 69 out of 100 (BBB). On current pricing, Frax USD is trading very close to its target, at $0.9997 with a very small daily change of +0.0003. This suggests the market is pricing the asset near par at the time of measurement. The score also reflects the asset’s market size tier, with a market cap of $138,900,945, which supports liquidity-based stability but is not the highest tier.

Inherent crypto risk for this stablecoin. Even with a strong peg performance snapshot and a BBB-level overall safety score, stablecoins can still face risks tied to reserve transparency, liquidity stress, and market-wide volatility. When liquidity thins or confidence in the backing system changes, stablecoin prices can deviate from target and redemption conditions can become harder. For investors, monitoring reserve health, operational stability, and market liquidity is important even for assets designed to reduce price swings.

  • Sam Kazemian - Founder
    PRNewswire release for the frxUSD launch states Frax was founded by Sam Kazemian.
  • Stephen Moore - Founder
    PRNewswire release for the frxUSD launch states Frax was founded by Stephen Moore.
  • Certik 2020-11 unknown
    Frax documentation lists a Nov 2020 Certik audit, but the specific frxUSD-related report URL and findings are not provided on the page we accessed.
  • Trail of Bits 2025-03 unknown
    Frax documentation lists multiple Trail of Bits audits and a 2025 March entry, but the specific audit report URL for frxUSD is not directly accessible from the material retrieved in this session.
  • frxUSD is described by Frax documentation as fully backed by bankruptcy-remote, tokenized U.S. Treasury funds. ([docs.frax.com](https://docs.frax.com/frxusd))
  • Frax documentation provides a cross-chain contract addresses list for frxUSD across many networks, indicating a defined on-chain deployment surface. ([docs.frax.com](https://docs.frax.com/frxusd/frxusd-contracts))
  • PRNewswire describes frxUSD as launched on Jan 2, 2025, backed by BlackRock's BUIDL tokenized by Securitize. ([prnewswire.com](https://www.prnewswire.com/news-releases/frax-launches-frxusd-stablecoin-backed-by-the-blackrocks-usd-institutional-digital-liquidity-fund-buidl-tokenized-by-securitize-302341497.html))
  • No hard cap on total token supply
  • A single wallet holds over 10% of supply
  • Top 10 wallets hold more than 50% of supply
Contract is upgradable via proxy
Risk: The team can change the contract logic after deployment
Benefit: The team can fix bugs, patch vulnerabilities, and ship upgrades

Price Chart

Contract Security

ethereum · 0xcacd6fd266af91b8aed52accc382b4e165586e29
Open source
Not honeypot
Non-mintable
Ownership locked
Non-pausable
No blacklist
Visible owner
Fixed slippage
Source: GoPlus Security

On-Chain Facts

Total Holders
1476
Top 10 Hold
80.3%
Top 50: 99.1%
Top Holders
  • 0x84202545b4f7517f2… 37.35%
  • 0x34c0bd5877a5ee709… 9.34%
  • 0xf292eb6c5dcb693ea… 7.71%
  • 0x47b83ab797f7b27a3… 7.23%
  • 0x13e12bb0e6a2f1a3d… 5.04%
  • 0x9a9e2e70919c75d80… 4.10%
  • 0xab3cb84c310186b2f… 3.13%
  • 0x189624b0748b67e52… 2.63%
  • 0xc045a53936d793839… 2.04%
  • 0xcca852bc40e560adc… 1.77%
Source: ethplorer
Discussion
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28%
Profile Status
Data completeness
Some data missing
High confidence

Market Stats

All-Time High$1.01
All-Time Low$0.9762
Circulating138455482
Total Supply138455482

Recent News

Staked Frax USD Price, SFRXUSD Price, Live Charts, and Marketcap

general 1 source 1 year, 3 months ago

BlackRock's BUIDL approved as backing token for Frax USD stablecoin

general 1 source 1 year, 4 months ago

Frax Finance Proposes Using BlackRock’s $530M BUIDL Token To Back Relaunched Stablecoin

general 1 source 1 year, 4 months ago

Frax Share Price, FXS to USD, Research, News & Fundraising

general 1 source 2 years, 4 months ago

Legacy Frax Dollar Price Today in United States | FRAX to USD Live Price & Chart

general 1 source 4 years, 4 months ago

Frax Price: Live FRAX/USD Rate, Market Cap & FRAX Price Chart

general 3 sources 5 years, 1 month ago

Legacy Frax Dollar Price, FRAX Price, Live Charts, and Marketcap: frax coin, frax usd

general 3 sources 5 years, 4 months ago

Legacy Frax Dollar price today, FRAX to USD live price, marketcap and chart

general 6 sources 5 years, 7 months ago