24h Change+0.033%
All Time HighMay 30, 2025$1.01
All Time LowFeb 17, 2025$0.98
Market Cap$113.7m
Fully Diluted Valuation$113.7m
Circ. Supply113.74m FRXUSD
CEX Volume$0
DEX Volume$2.58m
How much debt can be issued against FRXUSD as collateral across lending protocols.
Maximum possible exposure to FRXUSD
< $0.0001
< $0.0001 (max additional borrows against FRXUSD) + $0 (bad debt if FRXUSD was hacked now)
Morpho V1
< $0.0001 at-risk exposure = $0 bad debt if hacked + < $0.0001 additional borrowable against FRXUSD
Showing collateral exposure for FRXUSD on Polygon. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for FRXUSD as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
frxUSD0x80eede496655fb9047dd39d9f418d5483ed600df | < $0.0001 | $0 |
Risk-management actions published about FRXUSD by tracked risk managers and governance contributors, newest first.
Gauntlet reviewed market comparisons and internal modeling, finding sufficient on-chain liquidity and low volatility to support a modest LLTV increase while maintaining robust risk controls and liquidation support.
frxUSD is fully backed 1:1 by fiat-equivalent reserves across regulated U.S. custodians like BlackRock (BUIDL), Superstate (USTB), and WisdomTree (WTGXX), minimizing solvency risk through diversification and low failure probability of these institutions. Liquidity risks stem from fragmented, custodian-dependent redemption pathways concentrated in Curve pools, with improving but lighter exit liquidity in USDC/USDT pairs; FraxNet enhances cross-chain redemptions to USDC, reducing frictions.
frxUSD is a compliant dollar-pegged stablecoin backed 1:1 by regulated cash-equivalent assets like BlackRock’s BUIDL tokenized Treasury and USDC/USDT reserves, with direct mint/redeem functionality and $18M liquidity on Ethereum. Its alignment with U.S. regulatory frameworks and custody by entities like Securitize and Superstate supports onboarding as borrowable and collateral with conservative caps.
frxUSD is a fiat-redeemable stablecoin fully backed 1:1 by tokenized U.S. Treasuries managed by institutional custodians like BlackRock and Superstate, with a bankruptcy-remote structure ensuring stability and direct mint/redeem for cash, USDC, or USDT. It offers revenue-sharing of up to 100% of the 4.1% T-Bill yield on unborrowed assets in Aave pools, providing new income streams for the DAO.
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Showing 10 of 125 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabPMUSD-FRXUSD | $1.78m | 19.53% | 0.26% | 17.75% | |||||
| open in new tabFRXUSD-USD3Curve | $1.26m | 22.14% | 5.12% | 80.27% | |||||
| open in new tabFRXUSD-USPC | $518,208 | 32.69% | 0.18% | 11.68% | |||||
| open in new tabIQ-FRXUSD | $492,217 | 41.98% | 0.54% | 41.44% | 33.63% | ||||
| open in new tabFRXUSD-USPCCurve | $162,423 | 31.38% | 0.18% | 16.05% | |||||
| open in new tabFRXUSD-USP | $132,732 | 646% | 20.54% | 521% | |||||
| open in new tabFRXUSD-KRWQ | $89,690 | 22.80% | 0% | 22.80% | 38.76% | ||||
| open in new tabFRXUSD-FRXETH-WFRAX | $87,477 | 23.62% | 0.95% | 6.22% | |||||
| open in new tabFRXUSD-WFRXETH-WFRAXCurve | $12,794 | 42.31% | 0.86% | 9.80% | |||||
| open in new tabUSDC-FRXUSDCL1 - 0.01% | $10,337 | 73.47% | 0.18% | 94.82% |
