Ask about Frax Finance · freeTotal Value Locked$231.76m
TVL by Chain
Ethereum$226.89m
Fraxtal$4.37m
Arbitrum$155,265
BSC$137,526
Avalanche$105,360
Polygon$57,759
OP Mainnet$40,975
Fantom$5.86
Dogechain$0
Moonbeam$0
Key Metrics
Fees 30d$741,312
Fees 30d by chain
Ethereum$735,812
Fraxtal$4,445
Avalanche$438.56
Polygon$217.68
OP Mainnet$142.40
BSC$132.16
Arbitrum$122.63
Aurora$0
Boba$0
Fantom$0
Fees 7d$170,130
Ethereum$168,977
Fraxtal$925.46
Avalanche$115.24
Polygon$42.02
OP Mainnet$28.14
BSC$24.06
Arbitrum$16.67
Aurora$0
Boba$0
Fantom$0
Fees 24h$67,124
Ethereum$66,952
Fraxtal$137.99
Avalanche$11
BSC$11
Polygon$7.06
OP Mainnet$4.74
Arbitrum$0
Aurora$0
Boba$0
Fantom$0
Cumulative Fees$71.2m
Ethereum$68.73m
Fraxtal$1.02m
Moonbeam$297,554
Arbitrum$293,185
Polygon$233,703
Avalanche$183,897
Fantom$178,601
BSC$88,134
Moonriver$85,969
OP Mainnet$74,260
Harmony$7,946
Boba$1,908
Aurora$1,676
Revenue 30d$41,313
Revenue 30d by chain
Ethereum$41,141
Fraxtal$160.46
Arbitrum$11.48
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 7d$10,172
Ethereum$10,058
Fraxtal$111.68
Arbitrum$1.58
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 24h$5,577
Ethereum$5,576
Fraxtal$0.73
Arbitrum$0
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Cumulative Revenue$4.95m
Ethereum$4.92m
Fraxtal$12,022
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$1.63m
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$464.21m
Earnings (Annualized)-$1.14m
Earnings 30d$41,313
Earnings 7d$10,172
Earnings 24h$5,577
Cumulative Earnings-$459.26m
DEX Volume 30d$8.36m
DEX Volume 30d by chain
Fraxtal$4.11m
Ethereum$3.94m
Avalanche$146,345
Polygon$72,902
OP Mainnet$47,484
BSC$43,903
Arbitrum$309.44
Aurora$0.45
Fantom$0.37
Boba$0
DEX Volume 7d$1.52m
Ethereum$802,424
Fraxtal$643,988
Avalanche$38,458
Polygon$14,057
OP Mainnet$9,388
BSC$7,866
Arbitrum$17.09
Fantom$0.11
Aurora$0
Boba$0
DEX Volume 24h$262,338
Ethereum$128,646
Fraxtal$122,747
Avalanche$3,506
BSC$3,503
Polygon$2,354
OP Mainnet$1,580
Arbitrum$2.04
Fantom$0.02
Aurora$0
Boba$0
Cumulative DEX Volume$3.65b
Ethereum$2.77b
Fraxtal$298.21m
Moonbeam$123.27m
Moonriver$80.8m
Polygon$77.92m
BSC$77.31m
Arbitrum$75.07m
Avalanche$61.12m
Fantom$59.45m
Harmony$16.36m
Boba$4.77m
Aurora$4.17m
OP Mainnet$685,788
Collateral Liquidated 30d$33,934
Collateral Liquidated 30d by chain
Ethereum$28,995
Fraxtal$4,938
Arbitrum$0
Collateral Liquidated 7d$33,918
Ethereum$28,980
Fraxtal$4,938
Arbitrum$0
Collateral Liquidated 24h$0.04
Fraxtal$0.04
Arbitrum$0
Ethereum$0
Cumulative Collateral Liquidated$34,229
Ethereum$29,071
Fraxtal$5,158
Arbitrum$0
Market Cap$20.26m
$FRAX Price$0.22
Fully Diluted Valuation$21.58m
Outstanding FDV$21.65m
$FRAX Volume 24h$342,638
CEX Volume$181,683
DEX Volume$242,467(70.76% of total)
Staked$3.12m(15.42% of mcap)
Active Loans$4.91m
Treasury$1.32m
Majors$1.14m
Stablecoins$24,683
Own Tokens$0.000000099
Others$156,459
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
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
Yields
Pools Tracked49
Average Supply APY1.81%
Largest Pools by TVL
sfrxETHEthereum$72.5m
sFRAXEthereum$65.21m
sfrxUSDEthereum$39.39m
FPI-FRAXEthereum$6.82m
ffrxUSD(sfrxETH)-58Ethereum$4.59m
All pools above $1m (9)
User Activity
Active Addresses (24h)2
New Addresses (24h)0
Transactions (24h)40
Gas Used (24h)0 ETH
Gas Cost (24h)$9.04
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 13, 2026.
All-time high TVL: $2.347b on Mar 17, 2022. All-time low TVL: $149 on Dec 17, 2020.
Daily TVL, Oct 15, 2026 to Nov 13, 2026
| Date | TVL |
|---|---|
| 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 |
| Nov 10, 2026 | $243.35m |
| Nov 11, 2026 | $238.97m |
| Nov 12, 2026 | $239.23m |
| Nov 13, 2026 | $236.53m |
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 13, 2026 (latest) | $236.53m |
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) | $315,923 | $19,374 | $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 13, 2026, Frax Finance has $231.76m in total value locked. TVL has decreased 19% 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 $741,312 in fees. Of that, $41,313 was protocol revenue. Based on the trailing year, the annualized rate is $9.06m in fees and $491,630 in revenue.
What is the FRAX token price and valuation?
FRAX is currently trading at $0.22. Its circulating market capitalization is $20.26m, ranking it #1,007. Its fully diluted valuation is $21.58m. Supply currently stands at 93.58m circulating, 99.68m total supply.
How has FRAX performed recently?
FRAX is down 11.1% over the past 7 days and down 32.9% 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 13, 2026, Frax Finance has $4.91m in active loans.
Does Frax Finance have a treasury?
Frax Finance has a tracked treasury currently valued at $1.32m. Its holdings include $24,683 in stablecoins, $1.14m in major assets, $0.000000099 in its own tokens, $156,459 in other assets.