RWA-backed Frax dollar reserved in BlackRock BUIDL / Reg D structures.
Historical peg variance
Tight peg90-day series · source: DeFi Llama
Chain distribution
Circulating supply by chain · updated 7d ago
Ethereum101.0M frxUSD89.9%
Fraxtal7.4M frxUSD6.6%
Sonic2.2M frxUSD2.0%
Polygon423.8K frxUSD0.4%
Solana357.5K frxUSD0.3%
Base334.1K frxUSD0.3%
OP Mainnet301.0K frxUSD0.3%
Avalanche279.3K frxUSD0.2%
BSC14.8K frxUSD0.0%
Sei7.5K frxUSD0.0%
Linea6.8K frxUSD0.0%
Katana3.6K frxUSD0.0%
Arbitrum3.1K frxUSD0.0%
Unichain2.8K frxUSD0.0%
Ink981 frxUSD0.0%
X Layer182 frxUSD0.0%
Plume Mainnet101 frxUSD0.0%
Tempo33 frxUSD0.0%
Movement15 frxUSD0.0%
Mode13 frxUSD0.0%
Polygon zkEVM2 frxUSD0.0%
Blast0.7113 frxUSD0.0%
Metadata
Peg targetUSD
Sub-categoryStablecoin
IssuerView network
ChainsArbitrum One
Arbitrum nativeNo
LiveLive
Founded—
Issuance
Backing & mint/redeem mechanics per the issuer.
Peg mechanismFiat-backed
Frax USD uses a hybrid model that allows for governance-approved enshrined custodians to mint/redeem the stablecoin by holding cash-equivalent reserves while also having onchain mechanisms built by the Frax Finance Protocol
Off-chain facts
- Reserve CompositionUpdated periodically
frxUSD reserves sit in bankruptcy-remote Reg D structures via Securitize / BlackRock BUIDL — Frax's institutional RWA bridge.
Frax docs