Frax Finance company
Overview
Frax Finance is a decentralized finance protocol that issues frxUSD, a fully collateralized stablecoin. It originally launched FRAX as a fractional-algorithmic stablecoin, but removed the algorithmic component and moved to full collateralization after the 2022 Terra collapse; in 2025 the FRAX stablecoin was rebranded to frxUSD and the FXS governance token was rebranded to FRAX. The protocol also runs lending and swap platforms (Fraxlend and Fraxswap) and its own Fraxtal L2 (as of 2026-07-15).
Within the DeFi Intel graph, Frax Finance connects to 8 tracked entities, most strongly to Frax, Frax USD, Frax Price Index.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issues | Frax | 95% |
issues | Frax USD | 95% |
issues | Frax Price Index | 95% |
issues | Frax Ether | 95% |
issues | Sfrax | 90% |
issues | Frax Ether | 90% |
issues | Fraxlend | 90% |
governs | Frax Ether | 85% |
Frequently asked questions
What is Frax Finance?
Frax Finance is a decentralized finance protocol that operates a fractional-algorithmic stablecoin, FRAX, which is partially collateralized and partially stabilized algorithmically.
What tokens does Frax Finance issue?
Frax Finance issues FRAX, Frax USD, Frax Price Index, Frax Ether, and Sfrax.
What platforms does Frax Finance operate?
Frax Finance operates lending and swap platforms called Fraxlend and Fraxswap, which are governed by the FXS token.
Sources
- PR Newswire — Frax launches frxUSD stablecoin backed by BlackRock's BUIDL
- Frax Finance: FXS rebranded as FRAX, stablecoin FRAX converted to frxUSD
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