Ask about Frax Finance · freeTotal Value Locked$241.01m
TVL by Chain
Ethereum$235.89m
Fraxtal$4.6m
Arbitrum$172,800
BSC$142,312
Avalanche$101,567
Polygon$58,124
OP Mainnet$42,926
Fantom$6.06
Dogechain$0
Moonbeam$0
Key Metrics
Fees 30d$689,037
Fees 30d by chain
Ethereum$683,227
Fraxtal$4,813
Avalanche$403.56
Polygon$209.64
OP Mainnet$137.28
BSC$126.68
Arbitrum$116.72
Aurora$0
Boba$0
Fantom$0
Fees 7d$195,843
Ethereum$194,388
Fraxtal$1,219
Avalanche$83.38
Polygon$54.82
Arbitrum$35.90
OP Mainnet$33.38
BSC$25.62
Aurora$0
Boba$0
Fantom$0
Fees 24h$22,829
Ethereum$22,520
Fraxtal$279
Arbitrum$10.54
Avalanche$6.24
OP Mainnet$4.96
BSC$4.14
Polygon$3.30
Aurora$0
Boba$0
Fantom$0
Cumulative Fees$71.09m
Ethereum$68.62m
Fraxtal$1.02m
Moonbeam$297,554
Arbitrum$293,178
Polygon$233,674
Avalanche$183,801
Fantom$178,601
BSC$88,116
Moonriver$85,969
OP Mainnet$74,240
Harmony$7,946
Boba$1,908
Aurora$1,676
Revenue 30d$35,635
Revenue 30d by chain
Ethereum$35,458
Fraxtal$165.22
Arbitrum$10.90
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 7d$12,643
Ethereum$12,521
Fraxtal$116.91
Arbitrum$3.34
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 24h$1,822
Ethereum$1,718
Fraxtal$102
Arbitrum$1
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Cumulative Revenue$4.94m
Ethereum$4.92m
Fraxtal$12,019
Arbitrum$8,650
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
Harmony$0
Moonbeam$0
Moonriver$0
OP Mainnet$0
Polygon$0
Holders Revenue 30d$0
Holders Revenue 30d by chain
Arbitrum$0
Ethereum$0
Fraxtal$0
Holders Revenue 7d$0
Arbitrum$0
Ethereum$0
Fraxtal$0
Holders Revenue 24h$0
Arbitrum$0
Ethereum$0
Fraxtal$0
Cumulative Holders Revenue$0
Arbitrum$0
Ethereum$0
Fraxtal$0
Incentives 1y$1.67m
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$464.21m
Earnings (Annualized)-$1.18m
Earnings 30d$35,635
Earnings 7d$12,643
Earnings 24h$1,822
Cumulative Earnings-$459.27m
DEX Volume 30d$11.63m
DEX Volume 30d by chain
Fraxtal$6.05m
Ethereum$5.28m
Avalanche$134,840
Polygon$70,281
OP Mainnet$45,776
BSC$42,240
Arbitrum$375.75
Fantom$1.78
Aurora$0.45
Boba$0
DEX Volume 7d$1.43m
Fraxtal$790,071
Ethereum$575,095
Avalanche$28,086
Polygon$18,497
OP Mainnet$11,132
BSC$8,575
Arbitrum$125.98
Fantom$0.04
Aurora$0
Boba$0
DEX Volume 24h$250,319
Ethereum$152,361
Fraxtal$91,729
Avalanche$2,081
OP Mainnet$1,655
BSC$1,383
Polygon$1,103
Arbitrum$7.21
Aurora$0
Boba$0
Fantom$0
Cumulative DEX Volume$3.649b
Ethereum$2.77b
Fraxtal$297.75m
Moonbeam$123.27m
Moonriver$80.8m
Polygon$77.91m
BSC$77.31m
Arbitrum$75.07m
Avalanche$61.09m
Fantom$59.45m
Harmony$16.36m
Boba$4.77m
Aurora$4.17m
OP Mainnet$679,225
Collateral Liquidated 30d$33,932
Collateral Liquidated 30d by chain
Ethereum$28,994
Fraxtal$4,938
Arbitrum$0
Collateral Liquidated 7d$33,918
Ethereum$28,980
Fraxtal$4,938
Arbitrum$0
Collateral Liquidated 24h$33,916
Ethereum$28,978
Fraxtal$4,938
Arbitrum$0
Cumulative Collateral Liquidated$34,228
Ethereum$29,070
Fraxtal$5,158
Arbitrum$0
Market Cap$21.01m
$FRAX Price$0.22
Fully Diluted Valuation$22.38m
Outstanding FDV$22.45m
$FRAX Volume 24h$566,435
CEX Volume$346,546
DEX Volume$293,185(51.76% of total)
Staked$3.24m(15.42% of mcap)
Active Loans$4.92m
Treasury$1.43m
Majors$1.25m
Stablecoins$169,840
Own Tokens$0.000000099
Others$15,233
Total RaisedUndisclosed
Oct 22, 2019Round: Seed
Protocol Information
FRAX is a dollar-pegged stablecoin that uses AMO smart contracts and permissionless, non-custodial subprotocols as stability mechanisms. The two internal subprotocols used as stability mechanisms are Fraxlend, a decentralized lending market and Fraxswap, an automated market maker (AMM) with special features. The external subprotocol used as a stability mechanism is Curve. Additional subprotocols and AMOs can be added with governance allowing FRAX to incorporate future stability mechanisms seamlessly as they are discovered
Yields
Pools Tracked48
Average Supply APY1.78%
User Activity
Active Addresses (24h)3
New Addresses (24h)0
Transactions (24h)114
Gas Used (24h)0.02 ETH
Gas Cost (24h)$52.79
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Collateral Liquidated: USD value of collateral seized during protocol liquidations
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Frax Finance history
TVL is the default DefiLlama definition, which excludes Staking, Pool2, and Active Loans. Daily values are UTC snapshots from Dec 17, 2020 to Nov 9, 2026.
All-time high TVL: $2.347b on Mar 17, 2022. All-time low TVL: $149 on Dec 17, 2020.
Daily TVL, Oct 11, 2026 to Nov 9, 2026
| Date | TVL |
|---|---|
| Oct 11, 2026 | $288.09m |
| Oct 12, 2026 | $290.41m |
| Oct 13, 2026 | $283.74m |
| Oct 14, 2026 | $286.19m |
| Oct 15, 2026 | $280.51m |
| Oct 16, 2026 | $281.33m |
| Oct 17, 2026 | $279.24m |
| Oct 18, 2026 | $277.12m |
| Oct 19, 2026 | $277.49m |
| Oct 20, 2026 | $276.07m |
| Oct 21, 2026 | $278.93m |
| Oct 22, 2026 | $281.03m |
| Oct 23, 2026 | $273.8m |
| Oct 24, 2026 | $272.59m |
| Oct 25, 2026 | $270.12m |
| Oct 26, 2026 | $270.67m |
| Oct 27, 2026 | $263.32m |
| Oct 28, 2026 | $264.24m |
| Oct 29, 2026 | $265.08m |
| Oct 30, 2026 | $253.84m |
| Oct 31, 2026 | $250.49m |
| Nov 1, 2026 | $252.5m |
| Nov 2, 2026 | $253.03m |
| Nov 3, 2026 | $249.43m |
| Nov 4, 2026 | $253.33m |
| Nov 5, 2026 | $264m |
| Nov 6, 2026 | $249.31m |
| Nov 7, 2026 | $248.32m |
| Nov 8, 2026 | $247.89m |
| Nov 9, 2026 | $241.44m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $472.97m |
| Jan 31, 2025 | $423.54m |
| Feb 28, 2025 | $295.62m |
| Mar 31, 2025 | $228.27m |
| Apr 30, 2025 | $220.89m |
| May 31, 2025 | $298.67m |
| Jun 30, 2025 | $288m |
| Jul 31, 2025 | $424.53m |
| Aug 31, 2025 | $481.4m |
| Sep 30, 2025 | $504.95m |
| Oct 31, 2025 | $539.09m |
| Nov 30, 2025 | $464.47m |
| Dec 31, 2025 | $395.18m |
| Jan 31, 2026 | $328.27m |
| Feb 28, 2026 | $252.99m |
| Mar 31, 2026 | $327.85m |
| Apr 30, 2026 | $362.16m |
| May 31, 2026 | $336.42m |
| Jun 30, 2026 | $268.87m |
| Jul 31, 2026 | $268.71m |
| Aug 31, 2026 | $295.38m |
| Sep 30, 2026 | $292.82m |
| Oct 31, 2026 | $250.49m |
| Nov 9, 2026 (latest) | $241.44m |
TVL at each year end, Dec 31, 2020 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2020 | $53.89m |
| Dec 31, 2021 | $1.341b |
| Dec 31, 2022 | $1.359b |
| Dec 31, 2023 | $494.29m |
| Dec 31, 2024 | $472.97m |
| Dec 31, 2025 | $395.18m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $2.26m | $127,012 | $0 |
| Jan 2025 | $2.44m | $159,974 | $0 |
| Feb 2025 | $1.29m | $86,431 | $0 |
| Mar 2025 | $1.05m | $66,177 | $0 |
| Apr 2025 | $907,163 | $73,820 | $0 |
| May 2025 | $1.11m | $74,689 | $0 |
| Jun 2025 | $1.05m | $70,226 | $0 |
| Jul 2025 | $1.57m | $99,037 | $0 |
| Aug 2025 | $1.55m | $112,105 | $0 |
| Sep 2025 | $1.35m | $100,598 | $0 |
| Oct 2025 | $1.58m | $128,232 | $0 |
| Nov 2025 | $1.13m | $80,484 | $0 |
| Dec 2025 | $957,835 | $69,206 | $0 |
| Jan 2026 | $1.07m | $67,055 | $0 |
| Feb 2026 | $571,133 | $35,512 | $0 |
| Mar 2026 | $633,516 | $35,218 | $0 |
| Apr 2026 | $820,367 | $40,893 | $0 |
| May 2026 | $730,414 | $31,563 | $0 |
| Jun 2026 | $613,704 | $24,140 | $0 |
| Jul 2026 | $614,647 | $26,797 | $0 |
| Aug 2026 | $680,984 | $24,508 | $0 |
| Sep 2026 | $623,916 | $28,123 | $0 |
| Oct 2026 | $721,011 | $35,877 | $0 |
| Nov 2026 (to date) | $219,860 | $14,583 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/frax-finance
Frequently asked questions
What is Frax Finance's TVL?
As of Nov 9, 2026, Frax Finance has $241.01m in total value locked. TVL has decreased 16.2% over the past 30 days.
What chains does Frax Finance operate on?
Frax Finance operates on 15 chains: Ethereum, Arbitrum, Fraxtal, BSC, and Avalanche and 10 others. Ethereum holds the largest share at 97.9%.
How much has Frax Finance generated in fees and revenue?
Over the past 30 days, Frax Finance generated $689,037 in fees. Of that, $35,635 was protocol revenue. Based on the trailing year, the annualized rate is $9.03m in fees and $487,406 in revenue.
What is the FRAX token price and valuation?
FRAX is currently trading at $0.22. Its circulating market capitalization is $21.01m, ranking it #1,013. Its fully diluted valuation is $22.38m. Supply currently stands at 93.57m circulating, 99.68m total supply.
How has FRAX performed recently?
FRAX is down 10.2% over the past 7 days and down 29.9% over the past 30 days. Its all-time high is $42.80, reached on Jan 12, 2022. The token is currently 99.5% below that level.
Which protocols are included in Frax Finance?
Frax Finance is a parent protocol whose tracked products include Frax Ether, Frax USD, Frax, Fraxlend, and Frax Swap and 1 others.
How much has been borrowed through Frax Finance?
As of Nov 9, 2026, Frax Finance has $4.92m in active loans.
Does Frax Finance have a treasury?
Frax Finance has a tracked treasury currently valued at $1.43m. Its holdings include $169,840 in stablecoins, $1.25m in major assets, $0.000000099 in its own tokens, $15,233 in other assets.