Frax
Frax is the world’s first fractional-algorithmic stablecoin. The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.
Frax is the world’s first fractional-algorithmic stablecoin. The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.
Security firm Zellic completed a security assessment of frxUSD ecosystem contracts, reporting 0 critical findings. The scope covered frxUSD's custodians, timelocked minting, and bridge routing and circuit breakers.
Frax Finance said its assets and smart contracts are unaffected and operating normally following a reported op-reth incident, with all user and protocol funds safe. LayerZero has temporarily paused certain cross-chain routes as a precaution and is expected to resume them soon.
TechDollar has opened minting for USDte, its loan-settlement stablecoin, with frxUSD accepted as a mint asset. TechDollar lends against pre-IPO equity in frontier tech — AI, aerospace, chips, and energy — with every loan settling in USDte.
DefiLlama has independently verified the backing of frxUSD, Frax Finance's fully collateralized stablecoin. Frax framed the verification as "two OG DeFi teams collaborating" and said more updates are coming as it applies for a GENIUS license under the US federal stablecoin framework.
Frax Finance announced that the frxUSD/crvUSD PegKeeper position on Curve Finance — described as "a steady earner" with $15M+ depth and 5%+ boosted yield — can now be used as collateral on Tangent.fi to borrow USG, with bootstrapping incentives currently active.
Aero (@aeroxyz) — the unified DEX formed from merging Aerodrome and Velodrome — announced its launch with "Aero is here. Get on board." Frax Finance congratulated the team on the smooth takeoff and confirmed "Frax is on board."
Frax has been expanding frxUSD liquidity across the base Aero/Aerodrome ecosystem, including six fiat FX pairs against frxUSD on Base and multiple Robinhood Chain listings.
Frax Finance said it reviewed its infrastructure following today's security alerts affecting PHP, Node.js, and Railway, and confirmed no exposure. The team stated that Frax products and user funds remain safe, as they have throughout the protocol's 5+ years of operation.
Alandale (@alandalexyz) — a liquidity protocol on Robinhood Chain — has launched frxUSD/USDG and frxUSD/SPY trading pairs, announced by Frax Finance as "the frxUSD model in action." Alandale is using Frax's positive-sum rewards-sharing model to build deeper, protocol-owned liquidity while generating revenue for its ecosystem.
Frax Finance confirmed frxUSD is a default stablecoin on FablesFi markets on Robinhood Crypto, paired with Arrow Finance's aUSD, Own's eUSD, and Saffron's SFI, with more pairs to come. The frxUSD/eUSD PegKeeper pool, launched with Own, pairs frxUSD against eUSD, an overcollateralized stablecoin minted against eSPY (tokenized S&P 500 exposure).
Frax Finance announced that onchain FX is live on Base: six local-currency stablecoins now trade directly against frxUSD on Aerodrome, with FX infrastructure from DFB. The pairs are BRZ (Brazilian real), CADD (Canadian dollar), tGBP (British pound), IDRX (Indonesian rupiah), ZARP (South African rand), and AUDF (Australian dollar), with frxUSD as the dollar leg of each pair.
Frax framed the launch around the size of traditional FX — trillions traded daily, almost none onchain — positioning frxUSD as the dollar side of emerging onchain currency markets.
As part of the North Star update, the Frax Share (FXS) token was renamed to FRAX and designated the native gas token for the Fraxtal blockchain, replacing frxETH.
Frax launched frxUSD, a new USD-pegged stablecoin backed by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and tokenized by Securitize.
Frax's EVM-compatible Layer 2 rollup, built on the OP Stack, launched with select launch partners, later opening to the public.
The Frax DAO voted to move FRAX away from its algorithmic/fractional backing model toward full collateralization, a landmark governance decision following the 2022 Terra collapse.
Frax Ether, a dual-token ETH liquid staking system (frxETH, sfrxETH, and the Frax ETH Minter), went live in a soft community launch.
Launched the FPI stablecoin, the first stablecoin pegged to a basket of real-world consumer goods (US CPI-U) rather than the US dollar.
Frax launched V2, introducing AMO Controllers — autonomous monetary-policy tools that perform market operations while maintaining the stablecoin peg.
Frax Finance deployed the world's first fractional-algorithmic stablecoin, FRAX, on Ethereum mainnet on December 20, 2020 at 4 pm PST (December 21, 2020 at 0:00 UTC), introducing the FXS governance token.
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