Total Value Locked$93.98m
TVL by Chain
Ethereum$93.98m
Key Metrics
Fees 30d$308,973
Fees 30d by chain
Ethereum$308,973
Fees 7d$69,277
Ethereum$69,277
Fees 24h$10,036
Ethereum$10,036
Cumulative Fees$4.55m
Ethereum$4.55m
Revenue 30d$0
Revenue 30d by chain
Ethereum$0
Revenue 7d$0
Ethereum$0
Revenue 24h$0
Ethereum$0
Cumulative Revenue$0
Ethereum$0
Protocol Information
Frax USD (frxUSD) is a fully collateralized stablecoin issued by Frax Finance, combining off-chain custodians holding cash-equivalent reserves with on-chain minting and redemption mechanisms
Part of Frax Finance
Sub Category: Treasury Bills
Audits:
Frax USD history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Aug 2, 2025 to Nov 14, 2026.
All-time high TVL: $140.26m on May 9, 2026. All-time low TVL: $12.77m on Aug 3, 2025.
Daily TVL, Oct 16, 2026 to Nov 14, 2026
| Date | TVL |
|---|---|
| Oct 16, 2026 | $104.62m |
| Oct 17, 2026 | $104.06m |
| Oct 18, 2026 | $103.61m |
| Oct 19, 2026 | $103.4m |
| Oct 20, 2026 | $103.27m |
| Oct 21, 2026 | $103.17m |
| Oct 22, 2026 | $103.65m |
| Oct 23, 2026 | $102.3m |
| Oct 24, 2026 | $101.94m |
| Oct 25, 2026 | $101.45m |
| Oct 26, 2026 | $102.53m |
| Oct 27, 2026 | $100.3m |
| Oct 28, 2026 | $100.24m |
| Oct 29, 2026 | $100.59m |
| Oct 30, 2026 | $99.54m |
| Oct 31, 2026 | $96.36m |
| Nov 1, 2026 | $97.54m |
| Nov 2, 2026 | $97.14m |
| Nov 3, 2026 | $96.01m |
| Nov 4, 2026 | $97.68m |
| Nov 5, 2026 | $99.1m |
| Nov 6, 2026 | $96.38m |
| Nov 7, 2026 | $95.88m |
| Nov 8, 2026 | $95.89m |
| Nov 9, 2026 | $95.05m |
| Nov 10, 2026 | $95.38m |
| Nov 11, 2026 | $95.37m |
| Nov 12, 2026 | $95.16m |
| Nov 13, 2026 | $95.09m |
| Nov 14, 2026 | $94.47m |
TVL at each month end, Aug 2025 to Nov 2026
| Date | TVL |
|---|---|
| Aug 31, 2025 | $22.85m |
| Sep 30, 2025 | $78.03m |
| Oct 31, 2025 | $95.72m |
| Nov 30, 2025 | $81.41m |
| Dec 31, 2025 | $62.85m |
| Jan 31, 2026 | $63.27m |
| Feb 28, 2026 | $54.95m |
| Mar 31, 2026 | $122.32m |
| Apr 30, 2026 | $135.54m |
| May 31, 2026 | $132.72m |
| Jun 30, 2026 | $114.86m |
| Jul 31, 2026 | $111.93m |
| Aug 31, 2026 | $112.17m |
| Sep 30, 2026 | $103.85m |
| Oct 31, 2026 | $96.36m |
| Nov 14, 2026 (latest) | $94.47m |
Fees and revenue by UTC calendar month, Jun 2025 to Nov 2026
| Month | Fees | Revenue |
|---|---|---|
| Jun 2025 | $91,337 | $0 |
| Jul 2025 | $202,490 | $0 |
| Aug 2025 | $260,896 | $0 |
| Sep 2025 | $241,950 | $0 |
| Oct 2025 | $228,832 | $0 |
| Nov 2025 | $229,136 | $0 |
| Dec 2025 | $209,692 | $0 |
| Jan 2026 | $184,705 | $0 |
| Feb 2026 | $139,814 | $0 |
| Mar 2026 | $222,910 | $0 |
| Apr 2026 | $367,058 | $0 |
| May 2026 | $387,005 | $0 |
| Jun 2026 | $341,938 | $0 |
| Jul 2026 | $327,778 | $0 |
| Aug 2026 | $329,110 | $0 |
| Sep 2026 | $318,251 | $0 |
| Oct 2026 | $335,700 | $0 |
| Nov 2026 (to date) | $128,987 | $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-usd
Frequently asked questions
What is Frax USD's TVL?
As of Nov 14, 2026, Frax USD has $93.98m in total value locked. TVL has decreased 10.4% over the past 30 days.
What chains does Frax USD operate on?
Frax USD operates on Ethereum. Ethereum holds the largest share at 100%.
How much has Frax USD generated in fees and revenue?
Over the past 30 days, Frax USD generated $308,973 in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $3.42m in fees.
How does Frax USD's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, Frax USD ranks #13 by TVL. The category holds $3.465b across 179 protocols, and Frax USD accounts for 2.7% of that total. Similar protocols include Re, Huma, Ethena USDtb, OpenTrade, Plume Vaults, Theo Network thUSD, Ember, Usual USD0, Sky RWA, and Brickken.