Wrapped FRAX PriceWFRAX

What is Wrapped FRAX (WFRAX)?

Wrapped FRAX (WFRAX) is the wrapped representation of FRAX, the native asset of the Frax ecosystem. According to Fraxtal documentation, FRAX serves as the native gas token on the Fraxtal Layer 1 blockchain, while WFRAX is the wrapped version of FRAX used on LayerZero-powered chains. WFRAX is implemented as an Omnichain Fungible Token (OFT), enabling it to move across multiple blockchain networks supported by LayerZero's interoperability infrastructure. The token is deployed on Ethereum as an ERC-20 token and on BNB Smart Chain as a BEP-20 token, both using 18 decimals. The Frax ecosystem itself is described as a self-sufficient DeFi economy that utilizes stablecoins as currency. WFRAX launched in 2025, making it a relatively recent addition to the broader Frax cross-chain architecture. The total supply metrics for WFRAX show a circulating supply of 18,475,720 tokens alongside a max total supply figure of 15,930,666.640635 WFRAX recorded on Etherscan. The token operates as a proxy contract (TransparentUpgradeableProxy) with verified source code and an upgradeable implementation, reflecting an actively maintained technical foundation.

Key Specifications & Tokenomics

• Name: Wrapped FRAX
• Symbol / Ticker: WFRAX
• CMC ID: 37362
• Launch Year: 2025
• Platform / Blockchain: Ethereum (ERC-20); BNB Smart Chain (BEP-20)
• ERC-20 Contract Address (Ethereum): 0x04ACaF8D2865c0714F79da09645C13FD2888977f
• BEP-20 Contract Address (BNB Smart Chain): 0x64445f0aecc51e94ad52d8ac56b7190e764e561a
• Token Standard / Type: ERC-20, BEP-20, TransparentUpgradeableProxy
• Decimals: 18
• Circulating Supply: 18,475,720 WFRAX
• Max Total Supply: 15,930,666.640635 WFRAX
• Category: Wrapped Asset, Omnichain Fungible Token (OFT)
• Official Website: https://frax.com/
• Documentation: https://docs.frax.com/protocol/crosschain/overview

Who created Wrapped FRAX?

Wrapped FRAX is issued within the Frax ecosystem, which was founded in 2020 by Sam Kazemian, Travis Moore, and Jason Huan, with Stephen Moore, a former economic advisor to Donald Trump, also listed as part of the founding group. Sam Kazemian serves as Founder and CEO of Frax Finance, while Travis Moore and Jason Huan are co-founders. Frax Finance is described as a U.S.-based financial technology company building infrastructure for open, stable, and borderless digital money. The original FRAX token was launched on December 20, 2020. The WFRAX wrapped token itself launched in 2025 as part of the Frax cross-chain expansion strategy, leveraging LayerZero's omnichain messaging protocol to extend FRAX utility across multiple blockchain networks. The team's consistent public presence and track record since 2020 provide a foundation of transparency for the project's ongoing development.

How does Wrapped FRAX work?

WFRAX functions as a wrapped version of FRAX designed for cross-chain interoperability. FRAX is issued natively on the Fraxtal L1 blockchain, and WFRAX extends its reach to LayerZero-powered chains through the Omnichain Fungible Token standard. The OFT standard allows WFRAX to be transferred across supported blockchains while maintaining a unified liquidity layer through LayerZero's messaging infrastructure. On Ethereum, WFRAX operates as an ERC-20 token using a TransparentUpgradeableProxy pattern, meaning the contract logic can be upgraded through a proxy implementation while preserving the token address and holder balances. The same applies to the BEP-20 version on BNB Smart Chain. The Frax Protocol underlying FRAX is described as a banking algorithm that adjusts its balance sheet ratio based on the market's pricing of FRAX. The protocol is blockchain agnostic and can be deployed to multiple networks as long as FRAX and FXS remain fungible. A Frax Burn Engine (FBE) burns a portion of FRAX, contributing to supply dynamics. The UI multiplier mechanism on the contract scales displayed token amounts based on the active multiplier, which changes in response to the UIMultiplierUpdated event.

What makes Wrapped FRAX unique and valuable?

WFRAX's primary value proposition lies in its role as a cross-chain extension of the Frax ecosystem. By using LayerZero's OFT standard, WFRAX enables FRAX-denominated liquidity to move across multiple blockchain networks without relying on traditional wrapped-asset bridges that often fragment liquidity. The Frax ecosystem positions FRAX as a commodity-like asset rather than a governance token, with a fixed emission schedule that cannot be changed. FRAX is described as the scarce commodity asset of the Fraxtal blockchain, used as base money and providing security to the network for validators. The Frax Finance DeFi stack uses FRAX as a restakable asset that provides cryptoeconomic security and governance voting rights to manage certain parameters of various Frax Finance DeFi protocols, such as veFRAX. This structure means WFRAX inherits exposure to an ecosystem with a defined monetary policy, a burn mechanism, and a growing cross-chain footprint. The Frax Protocol's blockchain-agnostic design supports deployment across networks, and WFRAX serves as a key bridge between the Fraxtal-native FRAX and the broader multi-chain DeFi landscape.

What is Wrapped FRAX used for?

WFRAX is primarily used to represent FRAX on LayerZero-powered chains and other supported networks, enabling holders to access FRAX-denominated value in environments where the native Fraxtal version is not directly available. As an OFT, WFRAX can be transferred across chains, providing liquidity for DeFi applications, trading, and settlement on networks such as Ethereum and BNB Smart Chain. Within the Frax ecosystem, FRAX functions as the native gas token on Fraxtal, and WFRAX extends that utility to external chains. FRAX is also used as a restakable asset within Frax Finance's DeFi protocols, providing cryptoeconomic security and governance voting rights for parameter management, and WFRAX holders can potentially access similar DeFi opportunities on supported chains. The Frax Burn Engine burns a portion of FRAX, which indirectly affects WFRAX supply dynamics. WFRAX is listed on multiple trading venues and onchain markets, with active markets tracked across CoinGecko, Coinbase, and other platforms, making it accessible for trading, liquidity provision, and cross-chain transfers.

How Is the Wrapped FRAX ecosystem developing?

The Wrapped FRAX ecosystem is developing as part of the broader Frax cross-chain strategy. Frax has expanded from a single-protocol stablecoin system into a multi-chain ecosystem that includes Fraxtal as its own Layer 1 blockchain, LayerZero-powered OFT deployments, and a DeFi stack with restaking and governance features. The Frax Protocol is described as blockchain agnostic, and the introduction of WFRAX on Ethereum and BNB Smart Chain reflects this design philosophy. The ecosystem also includes Frax USD (FRXUSD), a stablecoin issued by the Frax Finance Protocol with a total supply of approximately $107.23 million. Partnerships and collaborations include LayerZero for cross-chain infrastructure, Fraxtal as the native L1, and media engagements through The Rollup featuring Frax CEO Sam Kazemian. The project has appeared in Fortune Crypto Ranking 2026, and CertiK assigns Frax a rating of 4.1. The ecosystem continues to evolve with documentation updates, cross-chain overviews, and ongoing development of Frax Finance's DeFi protocols, positioning WFRAX as a component of a larger, interconnected financial infrastructure.

How to mine Wrapped FRAX?

Wrapped FRAX is not mined through traditional proof-of-work or proof-of-stake consensus. WFRAX is a wrapped token created through a minting and burning process that corresponds to the underlying FRAX asset. To obtain WFRAX, users typically acquire FRAX and then use a supported bridge or wrapping mechanism to convert it into WFRAX on a target chain. The process is facilitated by LayerZero's OFT infrastructure, which handles cross-chain messaging and token transfers. Because WFRAX is a representation of FRAX rather than a standalone mineable asset, there is no mining reward, block subsidy, or validator-based issuance specifically for WFRAX. Instead, WFRAX supply is tied to the amount of FRAX that has been wrapped and bridged. The Frax ecosystem's FRAX asset has a fixed emission schedule and a capped maximum supply, and the Frax Burn Engine burns a portion of FRAX over time. Users interested in acquiring WFRAX should use supported cross-chain bridges or onchain swap venues that support OFT transfers, and should verify contract addresses on the relevant block explorer before interacting with the token.

How to keep your Wrapped FRAX Coin safe?

Keeping WFRAX safe requires standard cryptocurrency security practices combined with attention to cross-chain risks. First, always verify the official contract addresses before interacting with WFRAX: the ERC-20 contract on Ethereum is 0x04ACaF8D2865c0714F79da09645C13FD2888977f, and the BEP-20 contract on BNB Smart Chain is 0x64445f0aecc51e94ad52d8ac56b7190e764e561a. Use hardware wallets for significant holdings to protect private keys from online threats. When bridging WFRAX across chains, use only officially supported bridges and verify the destination contract on the receiving chain. Be aware that WFRAX uses a TransparentUpgradeableProxy pattern, which means the contract logic can be upgraded; monitor official Frax channels for any contract upgrade announcements. Etherscan notes that no contract security audit has been submitted for WFRAX, and the token reputation is listed as neutral, so users should exercise additional caution and conduct their own research. Avoid sharing seed phrases, use unique passwords, enable two-factor authentication where available, and consider diversifying storage across multiple wallets. Crypto markets are highly volatile, and prices can move sharply in either direction, so never invest more than you can afford to lose.