Staked FRAX (sFRAX) stablecoin analytics
Answer First
What is Staked FRAX (sFRAX)?
sFRAX is Frax's legacy-FRAX savings vault; protocol-funded rewards accrue to shares redeemable for pro-rata FRAX, without a guaranteed yield. The static profile records its FRAX-denominated NAV accounting mechanism as: Deposit legacy FRAX to mint ERC-4626 shares and redeem for the current pro-rata FRAX amount. Weekly protocol-funded FRAX rewards are distributed linearly subject to an administrator-set cap; the IORB yield target is not guaranteed.
Is sFRAX safe?
Pharos does not mark sFRAX as absolutely safe. Static metadata says Staked FRAX uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Staked FRAX (sFRAX) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg FRAX-denominated NAV.
Variant Relationship
Staked FRAX (sFRAX) is modeled as a savings variant of Legacy Frax Dollar (FRAX). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Oct 2, 2026
sFRAX is the savings share for legacy FRAX, distinct from the newer sfrxUSD wrapper over frxUSD. Frax distributes protocol-funded FRAX rewards through a linear ERC-4626 exchange rate, with an IORB-linked yield target that is not guaranteed. The reviewed vault holds the underlying FRAX directly, while the reward source and reserve risks remain on the Frax balance sheet. A parameter-control Safe can change the reward distribution cap, and no actual execution delay was demonstrated for that administrator.
- Collateral
- Legacy FRAX held by the StakedFrax vault, including protocol-funded FRAX rewards; Frax reserve and yield-source exposure remains upstream
- Peg Mechanism
- Deposit legacy FRAX to mint ERC-4626 shares and redeem for the current pro-rata FRAX amount. Weekly protocol-funded FRAX rewards are distributed linearly subject to an administrator-set cap; the IORB yield target is not guaranteed.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Next Actions
Exact bot target: /subscribe dews,depeg,safety sfrax-frax
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Oct 2, 2026.
sFRAX quick answers
What is Staked FRAX (sFRAX)?
sFRAX is Frax's legacy-FRAX savings vault; protocol-funded rewards accrue to shares redeemable for pro-rata FRAX, without a guaranteed yield. The static profile records its FRAX-denominated NAV accounting mechanism as: Deposit legacy FRAX to mint ERC-4626 shares and redeem for the current pro-rata FRAX amount. Weekly protocol-funded FRAX rewards are distributed linearly subject to an administrator-set cap; the IORB yield target is not guaranteed.
Is sFRAX safe?
Pharos does not mark sFRAX as absolutely safe. Static metadata says Staked FRAX uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs sFRAX?
Pharos classifies sFRAX backing as Real-World Asset Backed. Collateral, per the static profile: Legacy FRAX held by the StakedFrax vault, including protocol-funded FRAX rewards; Frax reserve and yield-source exposure remains upstream Reserve evidence: live reserve feed configured.
Can sFRAX be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for sFRAX, when applicable, appear in the dossier below.
