Legacy Frax Dollar
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FRAX to USD converterFRAX
USD0
FRAXUSDNo chart data available
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Website
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DeFi
Stablecoin
About Legacy Frax DollarLegacy Frax Dollar (FRAX) is the original decentralized stablecoin issued by Frax Finance that maintains its $1 peg through a hybrid collateralization model combining fiat reserves with algorithmic mechanisms and collateral efficiency optimizations. Built on Ethereum and other chains, FRAX pioneered the fractional-reserve stablecoin approach, allowing the protocol to reduce collateralization ratios over time as FXS (Frax Shares) governance token holders vote to increase protocol trust and stability. FRAX holders can mint new stablecoins by depositing collateral or redeem existing stablecoins for underlying collateral, creating efficient arbitrage mechanisms that maintain the $1 peg during market stress. Launched in 2020, FRAX achieved significant adoption within DeFi as a credible decentralized stablecoin alternative, growing to over $1 billion in circulating supply at peak and establishing Frax Finance as a major protocol within the stablecoin ecosystem. The introduction of FRXUSD (Frax USD) as a fully fiat-collateralized successor shifted focus away from FRAX, though the legacy stablecoin maintains substantial liquidity and integration within established DeFi protocols. Trading with strong institutional liquidity, FRAX's ongoing relevance depends on maintaining competitiveness against newer fractional-reserve designs and fully collateralized alternatives, though its historical significance as a pioneering protocol remains substantial.
Assets Details
Access Model
PermissionlessRedeemable
NoAttestations
NoCEX Listed
YesKYC to mint or redeem
NoTransferable
YesSelf Custody
Yes