Algo-Stables
Frax
Total TVL
$40.36M
Active pools
28
Chains supported
1
Official site: https://frax.com/ ↗
Overview
Frax is an algorithmic stablecoin protocol that generates and maintains a portfolio of dollar-pegged tokens through a combination of collateralized assets and algorithmic adjustments. The protocol attracts value by incentivizing participants to hold, stake, or trade its native tokens.
The protocol holds $65M in TVL across 28 active pools on 6 chains; Ethereum dominates at 100%. This concentration implies significant exposure to a single chain's performance and security risks. Frax has an official website, indicating a presence for community engagement and documentation.
Audit posture is light, with 1 audit reference available in the data. Token economics data is unavailable, making it difficult to assess the relationship between market capitalization and total value locked.
Composed 2026-05-21 from the structured data above. See methodology for the full pipeline.
TVL by chain
| Chain | TVL on chain |
|---|---|
| Ethereum | $40.36M |
TVL history
Top pools
| Chain | Symbol | TVL | APY |
|---|---|---|---|
| Ethereum | SFRAX | $65.18M | 0.00% |
| Ethereum | SFRXUSD | $40.89M | 5.10% |
| Ethereum | FPI-FRAX | $6.82M | 0.00% |
| Fraxtal | FRAX-WFRXETH | $3.11M | 1.43% |
| Ethereum | IQ-FRAX | $2.08M | 1.60% |
| Ethereum | WFRAX-FRXUSD | $1.99M | 0.17% |
| Fraxtal | FRAX-FXS | $1.39M | 0.44% |
| Ethereum | FRAX-WETH | $710.0K | 2.32% |
| Fraxtal | IQ-FRAX | $263.7K | 0.00% |
| Avalanche | WAVAX-FRAX | $242.7K | 4.79% |
FAQ
› What is Frax?
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
› How much TVL does Frax have?
Frax has $40.36M in total value locked across all supported chains as of the last refresh.
› How many active pools does Frax have?
We currently track 28 active pools for Frax.
› Is Frax audited?
DefiLlama lists 1 audit for Frax. Audits reduce smart-contract risk but do not eliminate it.
See our methodology for how this data is collected.