Profile
sfrxUSD profile facts
Staked Frax USD (sfrxUSD) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg FRXUSD-denominated NAV.
Variant relationship
Staked Frax USD (sfrxUSD) is modeled as a savings variant of Frax USD (FRXUSD). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
- Collateral
- Frax's Benchmark Yield Strategy positions across governance-approved lending, liquidity, carry-trade and Treasury venues; frxUSD is the accounting and redemption asset, while the strategy book can hold other assets
- Peg mechanism
- sfrxUSD is redeemable into frxUSD at the protocol exchange rate through Fraxtal's MintRedeemer or a cross-chain MintRedeemHop. The canonical Ethereum token's ordinary ERC-4626 deposit and withdrawal entrypoints are disabled; the strategy return and protocol-set accounting determine frxUSD per share.
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
sfrxUSD quick answers
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What is Staked Frax USD (sfrxUSD)?
sfrxUSD is Frax's yielding frxUSD wrapper; its Benchmark Yield Strategy allocates staked frxUSD to approved carry-trade, DeFi or Treasury venues. The static profile records its FRXUSD-denominated NAV accounting mechanism as: sfrxUSD is redeemable into frxUSD at the protocol exchange rate through Fraxtal's MintRedeemer or a cross-chain MintRedeemHop.
Is sfrxUSD safe?
As of Oct 24, 2026, Pharos grades sfrxUSD C+ (60/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and any holder can use its reviewed redemption route. 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 sfrxUSD?
Pharos records sfrxUSD's reserves as of Sep 29, 2026 as 100% Staked Frax USD deployed strategy positions. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can sfrxUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem sfrxUSD?
Under the route Pharos reviewed on Jul 24, 2026, any holder can redeem sfrxUSD for FRXUSD. Requests go through a redemption queue. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
