Ask about Frax Finance · freeTotal Value Locked$263.31m
TVL by Chain
Ethereum$257.83m
Fraxtal$4.94m
Arbitrum$180,181
BSC$149,180
Avalanche$108,746
Polygon$59,414
OP Mainnet$44,925
Fantom$7.92
Dogechain$0
Moonbeam$0
Key Metrics
Fees 30d$649,269
Fees 30d by chain
Ethereum$643,084
Fraxtal$5,155
Avalanche$586.24
Polygon$138.78
OP Mainnet$126.04
BSC$102.88
Arbitrum$74.96
Aurora$0
Boba$0
Fantom$0
Fees 7d$162,466
Ethereum$161,360
Fraxtal$962.46
Avalanche$65.44
OP Mainnet$29.82
Polygon$27.52
BSC$19.18
Arbitrum$0.04
Aurora$0
Boba$0
Fantom$0
Fees 24h$22,758
Ethereum$22,679
Fraxtal$54.26
Avalanche$12
OP Mainnet$4.84
Polygon$4.44
BSC$2.40
Arbitrum$0
Aurora$0
Boba$0
Fantom$0
Cumulative Fees$70.76m
Ethereum$68.29m
Fraxtal$1.02m
Moonbeam$297,554
Arbitrum$293,089
Polygon$233,551
Avalanche$183,604
Fantom$178,601
BSC$88,034
Moonriver$85,969
OP Mainnet$74,183
Harmony$7,946
Boba$1,908
Aurora$1,676
Revenue 30d$29,504
Revenue 30d by chain
Ethereum$29,430
Fraxtal$65.63
Arbitrum$7.12
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 7d$7,919
Ethereum$7,900
Fraxtal$18.45
Arbitrum$0
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 24h$1,106
Ethereum$1,105
Fraxtal$0.75
Arbitrum$0
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Cumulative Revenue$4.92m
Ethereum$4.9m
Fraxtal$11,888
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$1.96m
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$464.21m
Earnings (Annualized)-$1.44m
Earnings 30d$29,504
Earnings 7d$7,919
Earnings 24h$1,106
Cumulative Earnings-$459.29m
DEX Volume 30d$13.8m
DEX Volume 30d by chain
Fraxtal$7.58m
Ethereum$5.9m
Avalanche$194,756
Polygon$46,472
OP Mainnet$42,024
BSC$34,237
Arbitrum$172.47
Fantom$1.87
Aurora$0
Boba$0
DEX Volume 7d$1.89m
Ethereum$1.03m
Fraxtal$818,004
Avalanche$21,661
OP Mainnet$9,939
Polygon$9,169
BSC$6,409
Arbitrum$22.68
Fantom$0.09
Aurora$0
Boba$0
DEX Volume 24h$252,105
Ethereum$134,883
Fraxtal$109,335
Avalanche$3,996
OP Mainnet$1,611
Polygon$1,478
BSC$802
Arbitrum$0
Aurora$0
Boba$0
Fantom$0
Cumulative DEX Volume$3.645b
Ethereum$2.768b
Fraxtal$296m
Moonbeam$123.27m
Moonriver$80.8m
Polygon$77.87m
BSC$77.28m
Arbitrum$75.07m
Avalanche$61.02m
Fantom$59.45m
Harmony$16.36m
Boba$4.77m
Aurora$4.17m
OP Mainnet$660,148
Collateral Liquidated 30d$214.75
Collateral Liquidated 30d by chain
Fraxtal$202.28
Ethereum$12.47
Arbitrum$0
Collateral Liquidated 7d$0.98
Ethereum$0.97
Fraxtal$0.01
Arbitrum$0
Collateral Liquidated 24h$0
Arbitrum$0
Ethereum$0
Fraxtal$0
Cumulative Collateral Liquidated$308.54
Fraxtal$220.36
Ethereum$88.18
Arbitrum$0
Market Cap$24.76m
$FRAX Price$0.26
Fully Diluted Valuation$26.36m
Outstanding FDV$26.45m
$FRAX Volume 24h$367,462
CEX Volume$210,016
DEX Volume$159,795(43.49% of total)
Staked$3.81m(15.4% of mcap)
Active Loans$4.99m
Treasury$270,474
Majors$56,024
Stablecoins$196,513
Own Tokens$0.000000099
Others$17,937
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 APY1.43%
User Activity
Active Addresses (24h)5
New Addresses (24h)0
Transactions (24h)63
Gas Used (24h)0 ETH
Gas Cost (24h)$9.77
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 Pool2, Staking, and Active Loans. Daily values are UTC snapshots from Dec 17, 2020 to Oct 27, 2026.
All-time high TVL: $2.347b on Mar 17, 2022. All-time low TVL: $149 on Dec 17, 2020.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| 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 | $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 | $270.66m |
| Oct 27, 2026 | $268.42m |
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 27, 2026 (latest) | $268.42m |
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) | $592,945 | $28,507 | $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 27, 2026, Frax Finance has $263.31m in total value locked. TVL has decreased 11.4% 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 $649,269 in fees. Of that, $29,504 was protocol revenue. Based on the trailing year, the annualized rate is $9.35m in fees and $516,855 in revenue.
What is the FRAX token price and valuation?
FRAX is currently trading at $0.26. Its circulating market capitalization is $24.56m, ranking it #929. Its fully diluted valuation is $26.15m. Supply currently stands at 93.63m circulating, 99.68m total supply.
How has FRAX performed recently?
FRAX is up 1.7% over the past 7 days and down 13.7% 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 27, 2026, Frax Finance has $4.99m in active loans.
Does Frax Finance have a treasury?
Frax Finance has a tracked treasury currently valued at $270,474. Its holdings include $196,513 in stablecoins, $56,024 in major assets, $0.000000099 in its own tokens, $17,937 in other assets.