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FRAX profile facts

Legacy Frax Dollar (FRAX) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar.

CeFi-DependentReal-World Asset BackedUS Dollar
Collateral
Frax balance-sheet assets include protocol-owned FRAX, frxUSD, sFRAX, and sfrxUSD liquidity; tokenized cash, T-bill, and money-market assets such as WTGXX, USTB, and BUIDL; plus smaller USDe and other strategy or volatile exposures.
Peg mechanism
AMO smart contracts and governance attempt to maintain ≥100% collateralization; the USD peg uses Chainlink oracles and governance-approved reference rates. FRAX holders have no guaranteed right to redeem for reserve assets.
Jurisdiction
United States
Proof of reserves
No proof-of-reserves entry in the static profile.
Contracts
19 deployments tracked across Ethereum, Arbitrum, Optimism, and Polygon, plus 15 more.

Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.

FRAX quick answers

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What is Legacy Frax Dollar (FRAX)?

FRAX is Frax's dollar stablecoin, backed by protocol-owned stable liquidity, tokenized cash/T-bill/MMF assets, and strategy exposure. The static profile records its US Dollar peg mechanism as: AMO smart contracts and governance attempt to maintain ≥100% collateralization; the USD peg uses Chainlink oracles and governance-approved reference rates. FRAX holders have no guaranteed right to redeem for reserve assets.

Is FRAX safe?

As of Oct 25, 2026, Pharos grades FRAX C (55/100) on its Safety Score. Pharos's reviews record that freeze exposure is inherited through upstream collateral, custody or wrappers. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

What backs FRAX?

Pharos records FRAX's reserves as of Aug 12, 2026 as 22.5% WTGXX (WisdomTree Government Money Market), 16.1% FRAX, 13.6% frxUSD, and 24 smaller holdings. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.

Can FRAX be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies.