---
title: "Frankencoin (ZCHF) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/zchf-frankencoin/"
description: "Build-time stablecoin profile for Frankencoin (ZCHF). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Frankencoin (ZCHF)

**Peg:** Swiss Franc

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

A CHF-pegged CDP with auction-priced collateral, no oracle dependency, no team tokens, and a B safety grade that has slipped as the collateral mix has drifted away from its crypto-and-gold roots.

Frankencoin remains the most ideologically committed stablecoin on the dashboard — no foundation, no team tokens, no VC money, no price oracles — and that orthodoxy still earns it a top-tier decentralization mark. But the overall B grade is a step down from where it once sat, and the reason is sitting in the collateral pool: a single corporate equity, BOSS (Boss Info AG), now makes up roughly a third of the backing — rivaling wrapped BTC as the largest position and introducing issuer- and liquidity-specific risk the crypto and gold lines never carried. The collateral is still valued through auction-based {{term:liquidation}}liquidation{{/term}} that trades capital efficiency for oracle manipulation resistance, a tradeoff most {{term:cdp}}CDP{{/term}} protocols wouldn't dare make, and {{term:overcollateralization}}overcollateralization{{/term}} is enforced through veto-governed minting limits — but governance has plainly let the mix tilt toward a riskier single name. The peg itself is unbothered, holding near-perfect with only a handful of shallow deviations under 230 bps and rarely straying from the calm end of the stress scale, which is genuinely impressive for a CHF token priced against dollar reference rates on thin liquidity. The 3.5% APY from Frankencoin Savings remains a rare risk-adjusted draw for a non-USD stablecoin, but the widening gap between Frankencoin's decentralization purity and its collateral discipline is the thing to watch from here.

## Collateral

ETH, BTC derivatives (WBTC, cbBTC), ETH LSTs (wstETH, LsETH), gold tokens (PAXG, XAUt), tokenized RWAs (SPYon, LENDS, REALU), and governance tokens (CRV, GNO) in oracle-free overcollateralized positions; any collateral can be whitelisted by governance

## Peg Mechanism

Auction-based collateral valuation with veto governance; no price oracle dependency

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Switzerland | FINMA | MiCA-compliant payment token |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xb58e61c3098d85632df34eecfb899a1ed80921cb` | 18 |
| optimism | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| gnosis | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| base | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| arbitrum | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| polygon | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| avalanche | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |
| sonic | `0xd4dd9e2f021bb459d5a5f6c24c12fe09c5d45553` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/zchf-frankencoin.