Last updated:--
View ChartFrax USD (FRXUSD) is a decentralized, yield-bearing stablecoin that aims to combine price stability with capital efficiency. It has evolved from a hybrid algorithmic model to become a fully collateralized asset within the broader Frax Finance ecosystem, designed to maintain a soft peg to the US dollar.
| Item | Details |
|---|---|
| Name (Ticker) | Frax USD (FRXUSD) |
| Alternative Names | FRAX, Frax |
| Consensus Mechanism | N/A (Asset on Fraxtal L2) |
| Smart Contracts | Yes (EVM/Fraxtal). The primary contract is deployed on multiple chains. |
| Category | Decentralized Stablecoin, DeFi |
| Hash Algorithm | N/A |
| Block Reward | N/A |
| Max Supply | Uncapped (Supply adjusts based on demand and collateralization) |
| TPS | Dependent on the underlying Fraxtal L2 blockchain. |
| Scaling Solution | Fraxtal (Ethereum Layer 2 using OP Stack) |
| Blockchain | Primarily issued on Fraxtal, Ethereum, and other EVM-compatible chains. |
Frax USD was created by Frax Finance, a decentralized protocol founded by Sam Kazemian and Travis Moore. Kazemian, who has a background in biotechnology and philosophy, conceived the original Frax algorithmic stablecoin design. The project launched in 2020, introducing a novel "fractional-algorithmic" model. Over time, the protocol has been developed and governed by the Frax DAO, a decentralized autonomous organization consisting of FRAX and FXS (Frax Shares) token holders. The team and community have continuously iterated on the design, leading to its current fully collateralized and yield-bearing structure.
FRXUSD operates as a fully collateralized stablecoin. Its mechanism has evolved significantly from its initial design.
FRXUSD stands out in the crowded stablecoin landscape due to its innovative evolution and value proposition.
FRXUSD serves multiple critical functions within the DeFi ecosystem.
The FRXUSD ecosystem is rapidly expanding, centred around the Frax Finance protocol's multi-chain vision.
FRXUSD is not mined through proof-of-work. It is minted through the Frax Protocol. There are two primary ways to acquire newly minted FRXUSD:
Securing your FRXUSD involves standard cryptocurrency security best practices.
FRXUSD is a popular decentralized stablecoin listed on many exchanges. However, it is recommended to trade on a major platform like BTCC for higher liquidity and better customer support.
Buy in just 4 steps (Register → Verify → Deposit/Purchase → Receive Coins)
Choose Frax USD products that suit your trading style
Thank you for your interest in BTCC. Currently, spot and futures trading services for FRXUSD are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
Staked Frax USD (sfrxUSD) is the yield-accruing ERC-4626 vault for Frax USD (FRXUSD). When users deposit FRXUSD into the vault, they receive sfrxUSD, which is fully redeemable for FRXUSD at an exchange rate that rises as yield is earned. This does not reduce the FRXUSD supply, because the underlying tokens remain in circulation inside the vault rather than being burned.
What staking does change is the effective float. FRXUSD held in the vault is routed through a governance-approved Benchmark Yield Strategy that rotates across carry-trade venues, DeFi AMO strategies, and short-dated U.S. Treasury bill exposures. Locked balances are less likely to be sold on the open market, which can support the peg during stress and reduce sell-side pressure.
Because FRXUSD is a fiat-redeemable stablecoin backed 1-to-1 by cash-equivalent reserves, its price is designed to track $1.00 rather than appreciate. The main long-term implication is therefore peg stability and deeper liquidity, not upside price growth.
Frax USD (FRXUSD) is natively supported on Ethereum and Fraxtal, and is represented as a LayerZero Omnichain Fungible Token on other networks. This means upgrades that lower gas costs or improve cross-chain messaging directly affect how cheaply FRXUSD can move and settle.
Key value channels include:
Because FRXUSD is a fully collateralized stablecoin, these upgrades mainly strengthen liquidity, peg stability, and adoption rather than driving speculative price appreciation.
A spot ETF is a listed fund that holds the underlying asset directly, letting traditional brokerage and retirement accounts gain exposure without managing wallets or private keys. For Frax USD (FRXUSD), institutional adoption is already visible through its reserve structure: FRXUSD is backed 1-to-1 by tokenized U.S. Treasury funds such as BlackRock's BUIDL, Superstate's USTB, and WisdomTree's WTGXX, held with regulated custodians.
Sustained institutional inflows would likely affect FRXUSD in three ways:
In short, institutional adoption mainly strengthens peg reliability and scale, not speculative upside.
Both Frax USD (FRXUSD) and Tether (USDT) are dollar-pegged stablecoins, but they differ in backing structure, governance, and transparency model.
| Dimension | Frax USD (FRXUSD) | Tether (USDT) |
|---|---|---|
| Core Positioning | Fiat-redeemable, fully collateralized stablecoin issued by the Frax Protocol | Largest dollar-pegged stablecoin by market cap |
| Supply Model | Minted and burned 1-to-1 by governance-approved enshrined custodians | Minted and redeemed by Tether Limited |
| Consensus | ERC-20 on Ethereum and Fraxtal; LayerZero OFT elsewhere | Issued across many blockchains, including Ethereum |
| Main Use Cases | DeFi collateral, settlement, sfrxUSD yield vault | Trading pair base, payments, offshore dollar access |
FRXUSD emphasizes tokenized U.S. Treasury reserves and DAO governance, while USDT focuses on liquidity and broad exchange support.
On BTCC, you can attach stop-loss (SL) and take-profit (TP) orders to any FRXUSD/USDT perpetual contract position. These orders close your position automatically once a trigger price is reached, which removes the need to watch the chart constantly.
Always confirm the trigger price and order type before submitting, and keep position size aligned with your risk tolerance.
The current price of Frax USD (FRXUSD) is C$1.414, with a market cap of C$148.122454M and 24h trading volume of C$4.064543M. The circulating supply is 104.76M (max supply ∞).
Because FRXUSD is a fiat-redeemable stablecoin backed 1-to-1 by cash-equivalent reserves, its price is designed to stay close to $1.00, and small deviations usually reflect short-term liquidity conditions rather than a change in fundamentals.
For live quotes, depth, and funding rates, open the FRXUSD/USDT perpetual contract page on BTCC and check the real-time order book before placing any trade.
Frax USD (FRXUSD) is a fully collateralized stablecoin, so its price drivers differ from volatile crypto assets. The main forces fall into three layers:
Together these factors mainly determine peg stability and liquidity rather than directional price growth.
The all-time high of Frax USD (FRXUSD) is C$1.786867, reached on 2025-05-09 10:30; the all-time low is C$1.383141, recorded on 2026-05-04 16:20.
For a fiat-redeemable stablecoin designed to track $1.00, these extremes typically reflect temporary liquidity dislocations rather than lasting changes in value. The ATH above peg usually appears during periods of strong demand or thin order books, while the ATL below peg reflects moments of redemption pressure or market stress.
You can inspect the full-cycle chart, including volume and funding history, on the FRXUSD/USDT perpetual contract page on BTCC before making any trading decision.
Reading Frax USD (FRXUSD) candlesticks on BTCC starts with the anatomy of a single candle:
Next, layer in context:
Combine these signals rather than relying on any single indicator.
You can short Frax USD (FRXUSD) without holding any spot tokens by using BTCC FRXUSD/USDT perpetual contracts. The mechanics are straightforward: open a short position at a higher price, then close it (buy back) at a lower price to lock in the price difference as profit.
This gives traders a two-way opportunity. In bear markets or during sharp pullbacks, a short position can generate gains while long-only holders are losing value. Because perpetual contracts never expire, you can hold the position as long as your margin requirements are met.
Key risk controls to keep in mind:
Always size positions according to your risk tolerance and monitor funding rates.
Yes. BTCC offers flexible leverage on Frax USD (FRXUSD) perpetual contracts, with up to 50x available on the FRXUSD/USDT pair, subject to platform risk rules and position-size limits.
Leverage magnifies both gains and losses. A small adverse move at high leverage can trigger liquidation and wipe out your margin, so it should be used with discipline rather than as a default setting.
Recommendations for safer trading:
Higher leverage is a tool for experienced traders, not a shortcut to larger profits.
BTCC provides a demo trading mode so you can practice Frax USD (FRXUSD) strategies without risking real capital. After registering on BTCC, switch to "Demo Trading" mode and you will receive virtual funds, typically 100,000 USDT, credited to your demo account.
In demo mode you can practice the full workflow using real FRXUSD market data:
Because the market data is live, the demo environment mirrors real trading conditions closely, making it a useful place to build confidence before switching to a funded account. Progress to live trading only once your strategy performs consistently in the demo.
Buying and trading Frax USD (FRXUSD) on BTCC follows a simple four-step flow:
Because FRXUSD is a fiat-redeemable stablecoin, its price is designed to track $1.00, so most traders use it for hedging, yield strategies, or short-term basis trades rather than long-term directional bets. Always review the order book and funding rate before entering.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.