Ask about Frax Finance · freeTotal Value Locked$256.3m
TVL by Chain
Ethereum$250.97m
Fraxtal$4.8m
Arbitrum$176,707
BSC$145,244
Avalanche$107,407
Polygon$60,679
OP Mainnet$44,914
Fantom$7.01
Dogechain$0
Moonbeam$0
Key Metrics
Fees 30d$661,180
Fees 30d by chain
Ethereum$655,349
Fraxtal$4,784
Avalanche$463.64
Polygon$190.32
BSC$134.22
OP Mainnet$129.34
Arbitrum$128.90
Aurora$0
Boba$0
Fantom$0
Fees 7d$166,355
Ethereum$165,126
Fraxtal$894.21
Avalanche$126.52
Polygon$70.14
BSC$56.56
Arbitrum$53.96
OP Mainnet$27.76
Aurora$0
Boba$0
Fantom$0
Fees 24h$14,689
Ethereum$14,601
Fraxtal$68.89
Avalanche$8.14
Polygon$7.34
OP Mainnet$2.72
BSC$0.72
Arbitrum$0.18
Aurora$0
Boba$0
Fantom$0
Cumulative Fees$70.94m
Ethereum$68.47m
Fraxtal$1.02m
Moonbeam$297,554
Arbitrum$293,143
Polygon$233,629
Avalanche$183,735
Fantom$178,601
BSC$88,094
Moonriver$85,969
OP Mainnet$74,213
Harmony$7,946
Boba$1,908
Aurora$1,676
Revenue 30d$31,233
Revenue 30d by chain
Ethereum$31,157
Fraxtal$65.04
Arbitrum$12.18
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 7d$9,085
Ethereum$9,061
Fraxtal$20.50
Arbitrum$5.06
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Revenue 24h$419
Ethereum$419
Fraxtal$0.35
Arbitrum$0
Aurora$0
Avalanche$0
Boba$0
BSC$0
Fantom$0
OP Mainnet$0
Polygon$0
Cumulative Revenue$4.93m
Ethereum$4.91m
Fraxtal$11,909
Arbitrum$8,646
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$1.9m
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$464.21m
Earnings (Annualized)-$1.4m
Earnings 30d$31,233
Earnings 7d$9,085
Earnings 24h$419
Cumulative Earnings-$459.28m
DEX Volume 30d$12.94m
DEX Volume 30d by chain
Fraxtal$6.95m
Ethereum$5.68m
Avalanche$154,450
Polygon$63,622
BSC$44,628
OP Mainnet$43,127
Arbitrum$324.69
Fantom$1.81
Aurora$0.45
Boba$0
DEX Volume 7d$2.01m
Fraxtal$1.01m
Ethereum$897,061
Avalanche$42,499
Polygon$23,448
BSC$18,808
OP Mainnet$9,255
Arbitrum$161.68
Aurora$0.45
Fantom$0.10
Boba$0
DEX Volume 24h$116,371
Ethereum$55,667
Fraxtal$54,338
Avalanche$2,715
Polygon$2,449
OP Mainnet$906
BSC$239
Arbitrum$57
Aurora$0
Boba$0
Fantom$0
Cumulative DEX Volume$3.647b
Ethereum$2.769b
Fraxtal$297.11m
Moonbeam$123.27m
Moonriver$80.8m
Polygon$77.89m
BSC$77.3m
Arbitrum$75.07m
Avalanche$61.06m
Fantom$59.45m
Harmony$16.36m
Boba$4.77m
Aurora$4.17m
OP Mainnet$670,245
Collateral Liquidated 30d$15.73
Collateral Liquidated 30d by chain
Ethereum$15.45
Fraxtal$0.28
Arbitrum$0
Collateral Liquidated 7d$2.98
Ethereum$2.98
Arbitrum$0
Fraxtal$0
Collateral Liquidated 24h$1.26
Ethereum$1.26
Arbitrum$0
Fraxtal$0
Cumulative Collateral Liquidated$311.52
Fraxtal$220.36
Ethereum$91.16
Arbitrum$0
Market Cap$23.2m
$FRAX Price$0.25
Fully Diluted Valuation$24.71m
Outstanding FDV$24.79m
$FRAX Volume 24h$376,757
CEX Volume$230,579
DEX Volume$196,657(52.2% of total)
Staked$3.64m(15.69% of mcap)
Active Loans$5.01m
Treasury$1.53m
Majors$1.34m
Stablecoins$182,159
Own Tokens$0.000000099
Others$16,587
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 APY3.13%
User Activity
Active Addresses (24h)3
New Addresses (24h)0
Transactions (24h)34
Gas Used (24h)0 ETH
Gas Cost (24h)$6.08
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 Nov 4, 2026.
All-time high TVL: $2.347b on Mar 17, 2022. All-time low TVL: $149 on Dec 17, 2020.
Daily TVL, Oct 6, 2026 to Nov 4, 2026
| Date | TVL |
|---|---|
| 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 | $270.67m |
| 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 |
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 4, 2026 (latest) | $253.33m |
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) | $58,360 | $2,578 | $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 4, 2026, Frax Finance has $256.3m in total value locked. TVL has decreased 15.1% 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 $661,180 in fees. Of that, $31,233 was protocol revenue. Based on the trailing year, the annualized rate is $9.17m in fees and $499,492 in revenue.
What is the FRAX token price and valuation?
FRAX is currently trading at $0.25. Its circulating market capitalization is $23.51m, ranking it #976. Its fully diluted valuation is $25.05m. Supply currently stands at 93.57m circulating, 99.68m total supply.
How has FRAX performed recently?
FRAX is down 5.7% over the past 7 days and down 17.1% 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 Nov 4, 2026, Frax Finance has $5.01m in active loans.
Does Frax Finance have a treasury?
Frax Finance has a tracked treasury currently valued at $1.53m. Its holdings include $182,159 in stablecoins, $1.34m in major assets, $0.000000099 in its own tokens, $16,587 in other assets.