risk managerGauntletgovernance.aave.com
↑Gauntlet January 2024 Aave Risk Updates
Supply caps increased on V3 Ethereum based on Gauntlet’s risk simulations indicating sufficient liquidity and stable market conditions.
Overview
Frax (prev. FXS)(FXS)
Issued byFrax Finance
Token Price$0.28
24h Change-2.27%
All Time HighJan 12, 2022$42.8
All Time LowJun 10, 2026$0.27
Key Metrics
Market Cap$26.19m
Fully Diluted Valuation$27.89m
Circ. Supply93.6m FXS
Outstanding FDV$27.98m
Volume 24h$686,496
CEX Volume$526,110
DEX Volume$249,130
Token Liquidity$1.74m
Curve DEX · Ethereum$1.25m
Uniswap V3 · Ethereum$258,800
Uniswap V2 · Ethereum$236,824
Treasury$1.26m
Majors$1.03m
Stablecoins$208,885
Own Tokens< $0.0001
Others$18,975
Income Statement for Frax Finance
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $1.89M | $2.02M | $2.89M | $3.78M | $2.97M | $4.54M | $5.74M | $5.21M | $7.61M | $9.09M | $5.44M | $4.56M | $4.25M | $3.63M | $785.59K | $893.99K | $503.60K | $39.63K | $2.85K |
| Assets Yields | $943.24K | $292.84K | |||||||||||||||||
Cost of Revenue | $1.80M | $1.88M | $2.63M | $3.46M | $2.75M | $4.25M | $5.38M | $4.82M | $7.06M | $8.37M | $4.98M | $4.15M | $3.89M | $3.46M | $763.04K | $893.99K | $503.60K | $39.63K | $2.85K |
| Assets Yields | $943.24K | $292.84K | |||||||||||||||||
Gross Profit | $85.89K | $135.49K | $260.28K | $311.94K | $195.77K | $274.45K | $365.68K | $392.04K | $548.72K | $720.13K | $466.88K | $402.46K | $361.76K | $172.94K | $22.55K | $0 | $0 | $0 | $0 |
| Assets Yields | $944.78K | $485.42K | |||||||||||||||||
Incentives | $0 | $1.06M | $1.68M | $2.60M | $5.01M | $4.70M | $7.98M | $8.43M | $4.65M | $1.92M | $1.83M | $12.53M | $5.04M | $13.75M | $6.52M | $24.03M | $137.45M | $89.03M | $124.73M |
| Community Treasury Outflows | $1.06M | $1.68M | $2.60M | $5.01M | $4.70M | $7.98M | $8.43M | $4.65M | $1.92M | $1.83M | $12.53M | $5.04M | $13.75M | $6.52M | $24.03M | $137.45M | $89.03M | $124.73M | |
Earnings | $85.89K | -$931.48K | -$1.42M | -$2.29M | -$4.82M | -$4.42M | -$7.61M | -$8.04M | -$4.10M | -$1.20M | -$1.36M | -$12.13M | -$4.68M | -$13.57M | -$6.50M | -$24.03M | -$137.45M | -$89.03M | -$124.73M |
Token Holder Net Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Risk Timeline
Risk-management actions published about FXS by tracked risk managers and governance contributors, newest first.
risk managerLlama Riskllamarisk.com
→Risk Assessment: Frax Governance
As the governance token, FXS holders currently must trust the core team multisig to execute Snapshot votes, with the deployed on-chain governor not yet operational and admin rights held by the team. The planned decentralized model will give veFXS voters majority control through smart contract signers and veto powers, addressing the current trust assumptions in governance.
risk managerLlama Riskllamarisk.com
→Curve Risk Multisig Now Voting on Convex
The multisig will vote on Convex gauge weight rounds, prioritizing pools bribed with CVX, CRV, or FXS to support the flywheel while adhering to risk policies.
risk managerLlama Riskllamarisk.com
→FRAX Finance Asset Risk Assessment
FXS serves as the volatile governance token that absorbs FRAX volatility through burns during minting and minting during redemptions, with value capture via AMOs and veFXS staking yields from protocol profits. Concerns include potential price slippage and negative feedback loops if the PID controller fails to rebalance the growth ratio quickly during stress, alongside FXS buybacks planned to shift to Curve pools for increased volume.
Markets
Token Usage
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Unlocks
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Yields
Showing 10 of 14 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabFRAX-FXS | $1.33m | 3.80% | 3.80% | 3.85% | |||||
| open in new tabFXS-FRAX | $1.3m | 2.63% | 2.63% | 2.75% | |||||
| open in new tabFXS-FRAX | $78,564 | 0.49% | 0.49% | 2.65% | |||||
| open in new tabFXS-CVXFXS | $73,080 | 0.12% | 0.12% | 0.14% | |||||
| open in new tabFXS-CVXFXS | $71,046 | 0.12% | 0.12% | 0.23% | |||||
| open in new tabFXS-WFRXETH | $62,790 | 2.67% | 2.67% | 2.24% | |||||
| open in new tabFXS-WETH1% | $46,982 | 15.58% | 15.58% | 15.96% | |||||
| open in new tabFXS-FRXETH | $45,041 | 0.48% | 0.48% | 0.56% | |||||
| open in new tabFXS-FPI | $29,716 | 1.03% | 1.03% | 1.27% | |||||
| open in new tabFXS-CVXFXS | $18,001 | 0.15% | 0.12% | 0.27% |
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