How much debt can be issued against sFRAX as collateral across lending protocols.
Maximum possible exposure to sFRAX
$20.42m
$454,053 (max additional borrows against sFRAX) + $19.97m (bad debt if sFRAX was hacked now)
Compound V3
$20.42m at-risk exposure = $19.97m bad debt if hacked + $454,053 additional borrowable against sFRAX
Morpho V1
$0.012 at-risk exposure = $0.0097 bad debt if hacked + $0.0021 additional borrowable against sFRAX
Showing collateral exposure for sFRAX on Ethereum. 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 sFRAX as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
sFRAX0xa663b02cf0a4b149d2ad41910cb81e23e1c41c32 | $454,053 | $19.97m | ||
sFRAX0xa663b02cf0a4b149d2ad41910cb81e23e1c41c32 | $0.0021 | $0.0097 |
Risk-management actions published about sFRAX by tracked risk managers and governance contributors, newest first.
sFRAX is at high 65% utilization in USDT Comet, but cap is conservatively set just 1.4% above current supply due to its large balance and the protocol's risk-off stance. This limits downside from depeg or oracle manipulation in this stablecoin variant.
sFRAX price feed is upgraded to CAPO to handle its expected growth relative to FRAX while protecting against manipulated deviations in its direct FRAX pairing.
Demand for sFRAX in the Ethereum V3 USDT Comet market has maxed out the current supply cap of 33,480,000, prompting a proposed raise to 60,000,000 to enable more collateral usage.
sFRAX is proposed for onboarding to the FRAX Aave v3 instance, enabling it as collateral with conservative parameters based on its yield-bearing stablecoin profile.
sFRAX, a yield-bearing vault fully backed by FRAX, is being onboarded as collateral with strict parameters to mitigate risks from centralized dependencies, opaque off-chain yield management by FinResPBC, and unaudited contracts; current yields primarily from on-chain AMO activities enhance its utility.
Risk analysis provides initial parameter recommendations for sFRAX, supporting its integration into Aave with conservative settings to enable collateral use.
sFRAX is backed 1:1 by FRAX stablecoin deployed to RWAs via FinresPBC (sole custodian handling T-bills and stablecoin yields) and on-chain AMOs, targeting IORB rate but lacking an automated oracle, relying on team-managed multisig for yield distribution. TVL peaked at $40M post-launch but declined in November amid stagnant user growth and low liquidity, introducing market and counterparty risks for collateral use.
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Tracking 2 pools, average APY 1.25%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSFRAX | $65.08m | 1.25% | 1.25% | 1.06% | |||||
| open in new tabSFRAXUSDT-pool | $37.4m | 0% | 0% |
Showing 10 of 33 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSFRAX âžž WBTC | $291.34m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WBTC | $109.65m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WETH | $100.45m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WETH | $56.86m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WSTETH | $54.05m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WSTETH | $51.18m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WSTETH | $43.52m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WEETH | $24.08m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž RSETH | $19.38m | 0% | 0% | 0% | 88% | $37.4m | |||
| open in new tabSFRAX âžž WEETH | $13.82m | 0% | 0% | 0% | 88% | $37.4m |
