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View ChartStaked Frax USD (SFRXUSD) is a yielding stablecoin built on the Ethereum blockchain as an ERC-20 token with an ERC-4626-like vault design. It is part of the Frax Finance ecosystem and represents staked Frax USD (frxUSD), allowing holders to earn yield on their frxUSD deposits while maintaining full redeemability. Unlike rebasing tokens, SFRXUSD does not change holders' balances; instead, it is redeemable for an increasing amount of frxUSD over time, proportional to the yield generated by the underlying strategy. The token launched in 2025, with a start date of March 16, 2025, and is issued through a TransparentUpgradeableProxy contract on Ethereum. Its core innovation is the Benchmark Yield Strategy (BYS), which dynamically allocates staked frxUSD to the highest-yielding, governance-approved venue among carry-trade, algorithmic market operations (AMOs), and the Interest on Reserve Balances/T-Bill (IORB) rate. This design aims to deliver competitive risk-adjusted yields without requiring holders to rotate between different yielding stablecoins.
Supply figures vary across trackers due to different snapshot times and data sources. The token has no fixed maximum supply, and its circulating supply grows as users stake frxUSD into the yield vault. Market capitalization across sources has ranged from roughly $33M to $36M during observed snapshots in 2026.
Staked Frax USD is developed within the Frax Finance ecosystem. Sam Kazemian is the founder of Frax and has publicly discussed the evolution of stablecoins and their impact on digital economies, including in a Stablecoin Masterclass episode. The broader Frax protocol is governed by the Frax DAO, and SFRXUSD-related strategies are subject to governance proposals such as FIP-439, FIP-437, FIP-435, and FIP-434. Detailed public information about the full core team behind SFRXUSD specifically is currently limited, but the project operates under the established Frax Finance organizational and governance structure.
Users stake frxUSD into the SFRXUSD yield vault, which is structured as an ERC4626-like token. The vault allocates all staked frxUSD to the top yield venue based on the Benchmark Yield Strategy (BYS). The BYS compares the available yields from three governance-approved categories: carry-trade strategies, DeFi AMO strategies, and the IORB/T-Bill rate. If carry-trade yields are higher than DeFi yields, the vault allocates to carry-trade venues such as Ethena and Superstate. If DeFi AMO yields are higher, it allocates through AMOs to venues including Aave, Curve Finance, Convex Finance, Euler Finance, Fraxlend, and dTrinity lending. If the IORB/T-Bill rate is the highest, funds are allocated to RWA strategies holding short-dated (more than 90 days) United States Treasury Bills through venues such as Blackrock and FinresPBC. As the amount of staked frxUSD increases, the strategy adjusts to the best available yield source. SFRXUSD is not rebasing; instead, it is fully redeemable for frxUSD at an increasing rate via the FraxtalERC4626MintRedeemer, with no price impact. This mechanism allows holders to earn yield while maintaining dollar-pegged value exposure.
The primary differentiator of SFRXUSD is its Benchmark Yield Strategy, which dynamically rotates capital between carry-trade, DeFi AMO, and IORB/T-Bill strategies based on prevailing market conditions. This approach is designed to consistently achieve the highest risk-adjusted yields in DeFi for SFRXUSD holders, without requiring them to hold or manage any other yielding USD stablecoin. The token's non-rebasing design means holders' token balances remain stable, and yield accrues through an increasing redemption rate for frxUSD. Redemption occurs with no price impact through the FraxtalERC4626MintRedeemer. Additionally, SFRXUSD benefits from the broader Frax Finance ecosystem and governance framework, with ongoing proposals to add new yield strategies and deploy AMOs across Ethereum and Fraxtal. For investors seeking stablecoin exposure with competitive onchain yield, SFRXUSD offers a structured, governance-driven alternative to manually rotating between yield sources.
SFRXUSD is primarily used to earn yield on frxUSD holdings within the Frax ecosystem. By staking frxUSD into the SFRXUSD vault, holders gain exposure to the Benchmark Yield Strategy and receive a token that appreciates in frxUSD terms over time. SFRXUSD can also be used in DeFi markets; observed trading pairs include SFRXUSD/FRXUSD, SFRXUSD/SCRVUSD, and SFRXUSD/USDE on Curve Finance, as well as an SFRXUSD/ETH pair on Uniswap v2. The token maintains dollar-pegged value while providing liquidity and rewards, making it suitable for users who want stablecoin stability combined with yield generation. It enhances the utility of frxUSD by offering a staked representation that is fully redeemable and composable within Ethereum-based DeFi protocols.
The SFRXUSD ecosystem is evolving through Frax DAO governance proposals and strategy expansions. Related proposals include FIP-439 (sfrxUSD new strategies), FIP-437 (Add Predeposit Vault AMO to sfrxUSD strategies on Ethereum & Fraxtal), FIP-435 (Allow the use of Stake DAO OnlyBoost for sfrxUSD Curve AMOs), and FIP-434 (sfrxUSD AMO Deployments & Future Strategies). Users are encouraged to submit additional blue-chip DeFi yield strategies for discussion on the governance forum. SFRXUSD is tracked on major price and data platforms including CoinMarketCap, Coinbase, Kraken, CoinGecko, Crypto.com, LiveCoinWatch, Etherscan, Yahoo Finance, CoinDesk, BitMart, Binance, MEXC, Phantom, OneBullEx, CoinTracker, IQ.wiki, and thedailycoins.io. Trading activity has been observed across multiple markets, with Curve Finance hosting the most active pairs. The related asset Frax USD (FRXUSD) has a market cap of approximately $103.51M and a 24-hour volume of about $3.34M, providing a substantial underlying base for SFRXUSD staking. The number of holders has grown from 499 in August 2026 to 568 in September 2026, indicating gradual adoption.
SFRXUSD is not mined through proof-of-work or traditional mining. Instead, it is obtained by staking frxUSD into the SFRXUSD yield vault. The process involves acquiring frxUSD, depositing it into the SFRXUSD contract, and receiving SFRXUSD tokens in return. Yield accrues through the Benchmark Yield Strategy, which allocates the staked frxUSD to the highest-yielding governance-approved venue. Holders can redeem SFRXUSD for frxUSD at an increasing rate via the FraxtalERC4626MintRedeemer, with no price impact. There is no separate mining reward or block subsidy; the yield is generated by the underlying strategies. Users should ensure they are interacting with the official contract address and follow Frax documentation for the correct staking and redemption procedures.
To keep SFRXUSD safe, use only the official contract address on Ethereum and verify all interactions through the official Frax documentation and website. Store tokens in a reputable self-custody wallet where you control the private keys, and never share seed phrases or private keys with anyone. Be cautious of phishing sites, fake tokens, and unsolicited offers related to SFRXUSD or frxUSD. Since the contract is a TransparentUpgradeableProxy, upgrades are possible; monitor Frax governance and official channels for any contract changes. Note that no contract security audit has been submitted according to available information, so users should conduct their own due diligence. When providing liquidity or using DeFi protocols, understand the specific risks of each venue, including smart contract risk, impermanent loss, and strategy risk. Keep software and wallets updated, and consider using hardware wallets for significant holdings.
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Thank you for your interest in BTCC. Currently, spot and futures trading services for SFRXUSD 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.
As of right now, the live price of Staked Frax USD (SFRXUSD) is $1.212586. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated SFRXUSD to USD rate at the top of BTCC’s price page. In terms of market scope, Staked Frax USD records a 24h trading volume of $205.658457K (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $33.423353M. Its current circulating supply stands at 27.56M out of a maximum supply cap of ∞.
The price volatility of Staked Frax USD (SFRXUSD) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (27.56M) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, Staked Frax USD (SFRXUSD) hit an all-time high (ATH) of $1.213111 on 2026-09-29 06:35, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $1.118567 on 2025-03-20 14:25. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading SFRXUSD futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($205.658457K), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s SFRXUSDUSDT perpetual contracts support two-way trading. If you anticipate a price decline for Staked Frax USD, simply log into your BTCC account with USDT margin available, navigate to the SFRXUSDUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for SFRXUSDUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $1.212586), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for SFRXUSDUSDT with zero financial risk.
Trading Staked Frax USD (SFRXUSD) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for SFRXUSDUSDT, and review its live price ($1.212586) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
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.
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