Frax USD
frxUSD
0x20c0000000000000000000003554d28269e0f3c2
Frax USD — decentralized stablecoin from the Frax Protocol.
Current price
$1.000000
Price vs pathUSD
1.000000
Spread
—
Supply
$24.12
Headroom
—
Yield
—
Currency
USD
01 — Origin
Where it comes from
frxUSD is Frax Finance's flagship stablecoin, deployed on Tempo as part of Frax's multichain expansion. Originally fractional-algorithmic, now fully collateralized with Treasury bills and USDC.
Backing type
crypto02 — Peg Health
Peg stability
frxUSD trades at $1.000000 against pathUSD — perfectly pegged the $1.00 anchor. Spread on the enshrined DEX is tight.
$1.00 peg
Deviation
0 bps
DEX Spread
—
Status
tight
Simulated trace — historical peg series coming soon
03 — Supply
Supply & dynamics
Current circulating supply is $24.12. Supply cap is unmeasured — the TIP-403 registry's getPolicy() read is not callable on the current deployment.
Current supply$24.12
Supply cap—
Headroom—
Opted-in supply—
04 — Compliance
Compliance & controls
Every TIP-20 stablecoin on Tempo is governed by a TIP-403 policy — the enshrined compliance registry at 0x403c…0000. The policy controls which addresses can hold, transfer, and mint.
Policy ID—
Policy type—
Policy admin—
Registry0x403c…0000
05 — Backing & risks
What backs it. What could go wrong.
Fully collateralized: U.S. Treasury bills, USDC, and onchain reserves.
Risks
- 01Protocol governance risk
- 02Smart contract risk in Frax's reserve management
- 03Collateral composition shifts over time
Notable
- ✓Transitioned from algorithmic to fully-backed
- ✓One of the oldest decentralized stablecoin protocols
- ✓Yield-bearing variants available
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