Ask about Frax Finance · freeTotal Value Locked$276.08m
TVL by Chain
Ethereum$270.51m
Fraxtal$5.02m
Arbitrum$190,689
BSC$147,401
Avalanche$111,743
Polygon$59,619
OP Mainnet$45,530
Fantom$8.87
Dogechain$0
Moonbeam$0
Key Metrics
Fees 30d$637,381
Fees 30d by chain
Ethereum$630,556
Fraxtal$5,511
Avalanche$855.80
OP Mainnet$148.58
BSC$117.32
Polygon$111.26
Arbitrum$83.17
Aurora$0
Boba$0
Fantom$0
Fees 7d$150,492
Ethereum$148,973
Fraxtal$1,280
Avalanche$97.46
Polygon$55.50
OP Mainnet$42.02
Arbitrum$26.78
BSC$17.50
Aurora$0
Boba$0
Fantom$0
Fees 24h$12,056
Ethereum$11,947
Fraxtal$91.45
Polygon$7.66
Avalanche$5.72
OP Mainnet$3.28
BSC$1.40
Arbitrum$0.04
Aurora$0
Boba$0
Fantom$0
Cumulative Fees$70.59m
Ethereum$68.13m
Fraxtal$1.02m
Moonbeam$297,554
Arbitrum$293,089
Polygon$233,524
Avalanche$183,539
Fantom$178,601
BSC$88,015
Moonriver$85,969
OP Mainnet$74,153
Harmony$7,946
Boba$1,908
Aurora$1,676
Revenue 30d$28,671
Revenue 30d by chain
Ethereum$28,601
Fraxtal$60.35
Arbitrum$7.90
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 7d$7,033
Ethereum$7,021
Fraxtal$9.31
Arbitrum$2.50
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 24h$85.88
Ethereum$85.84
Fraxtal$0.04
Arbitrum$0
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Cumulative Revenue$4.91m
Ethereum$4.89m
Fraxtal$11,870
Arbitrum$8,641
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$2.29m
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$464.21m
Earnings (Annualized)-$1.76m
Earnings 30d$28,671
Earnings 7d$7,033
Earnings 24h$85.88
Cumulative Earnings-$459.3m
DEX Volume 30d$14.97m
DEX Volume 30d by chain
Fraxtal$8.27m
Ethereum$6.3m
Avalanche$284,578
OP Mainnet$49,626
BSC$39,212
Polygon$37,303
Arbitrum$161.85
Fantom$2.79
Aurora$0
Boba$0
DEX Volume 7d$2.53m
Fraxtal$1.37m
Ethereum$1.09m
Avalanche$32,449
Polygon$18,611
OP Mainnet$14,009
BSC$5,842
Arbitrum$48.49
Fantom$0.52
Aurora$0
Boba$0
DEX Volume 24h$197,175
Fraxtal$102,101
Ethereum$89,034
Polygon$2,559
Avalanche$1,903
OP Mainnet$1,092
BSC$467
Arbitrum$19
Aurora$0
Boba$0
Fantom$0
Cumulative DEX Volume$3.643b
Ethereum$2.767b
Fraxtal$295.18m
Moonbeam$123.27m
Moonriver$80.8m
Polygon$77.86m
BSC$77.27m
Arbitrum$75.07m
Avalanche$61m
Fantom$59.45m
Harmony$16.36m
Boba$4.77m
Aurora$4.17m
OP Mainnet$650,209
Collateral Liquidated 30d$213.77
Collateral Liquidated 30d by chain
Fraxtal$202.27
Ethereum$11.50
Arbitrum$0
Collateral Liquidated 7d$11.77
Ethereum$11.50
Fraxtal$0.27
Arbitrum$0
Collateral Liquidated 24h$4.28
Ethereum$4.28
Arbitrum$0
Fraxtal$0
Cumulative Collateral Liquidated$307.56
Fraxtal$220.35
Ethereum$87.21
Arbitrum$0
Market Cap$24.18m
$FRAX Price$0.26
Fully Diluted Valuation$25.74m
Outstanding FDV$25.82m
$FRAX Volume 24h$450,087
CEX Volume$253,373
DEX Volume$190,053(42.23% of total)
Staked$3.75m(15.52% of mcap)
Active Loans$4.96m
Treasury$269,520
Majors$58,099
Stablecoins$193,689
Own Tokens$0.000000099
Others$17,733
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 APY1.3%
User Activity
Active Addresses (24h)5
New Addresses (24h)0
Transactions (24h)62
Gas Used (24h)0 ETH
Gas Cost (24h)$9.39
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 Oct 20, 2026.
All-time high TVL: $2.347b on Mar 17, 2022. All-time low TVL: $149 on Dec 17, 2020.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $287.3m |
| Sep 22, 2026 | $294.77m |
| Sep 23, 2026 | $294.46m |
| Sep 24, 2026 | $296.96m |
| Sep 25, 2026 | $297.33m |
| Sep 26, 2026 | $296.9m |
| Sep 27, 2026 | $297.19m |
| Sep 28, 2026 | $296.82m |
| Sep 29, 2026 | $295.03m |
| Sep 30, 2026 | $292.82m |
| Oct 1, 2026 | $290.17m |
| Oct 2, 2026 | $296.81m |
| Oct 3, 2026 | $299.41m |
| Oct 4, 2026 | $299.79m |
| Oct 5, 2026 | $302m |
| Oct 6, 2026 | $304.3m |
| Oct 7, 2026 | $305.86m |
| Oct 8, 2026 | $298.22m |
| Oct 9, 2026 | $287.33m |
| Oct 10, 2026 | $287.58m |
| 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 | $277.23m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $512.67m |
| 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 20, 2026 (latest) | $277.23m |
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, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $1.84m | $120,540 | $0 |
| 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 (to date) | $430,479 | $20,588 | $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 Oct 20, 2026, Frax Finance has $276.08m in total value locked. TVL has decreased 3.9% 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 98%.
How much has Frax Finance generated in fees and revenue?
Over the past 30 days, Frax Finance generated $637,381 in fees. Of that, $28,671 was protocol revenue. Based on the trailing year, the annualized rate is $9.48m in fees and $530,988 in revenue.
What is the FRAX token price and valuation?
FRAX is currently trading at $0.26. Its circulating market capitalization is $24.18m, ranking it #954. Its fully diluted valuation is $25.74m. Supply currently stands at 93.63m circulating, 99.68m total supply.
How has FRAX performed recently?
FRAX is down 23.4% over the past 7 days and down 8% over the past 30 days. Its all-time high is $42.80, reached on Jan 12, 2022. The token is currently 99.4% 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 Oct 20, 2026, Frax Finance has $4.96m in active loans.
Does Frax Finance have a treasury?
Frax Finance has a tracked treasury currently valued at $269,520. Its holdings include $193,689 in stablecoins, $58,099 in major assets, $0.000000099 in its own tokens, $17,733 in other assets.