Frax USD (FRXUSD) stablecoin analytics
Answer First
What is Frax USD (FRXUSD)?
frxUSD is Frax's tokenized-T-bill-backed dollar, minted 1:1 by governance-approved custodians holding BUIDL, USTB, WTGXX, and other tokenized cash-equivalents. The static profile records its US Dollar peg mechanism as: 1:1 mint and redemption through governance-approved enshrined custodians; each custodian holds provable on-chain reserves and can mint or burn frxUSD 1:1; redeemable from any custodian with available collateral
Is FRXUSD safe?
FRXUSD holds a B Safety Score grade (70/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Frax USD uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with Real-Time PoR from Frax/Chaos Labs reserve index; Erebor cash issuer-disclosed; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Frax USD (FRXUSD) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Aug 18, 2026
frxUSD is Frax's tokenized-T-bill-backed dollar minted and redeemed 1:1 through governance-approved custodians, a RWA do-over without legacy FRAX's algorithmic baggage.
AI summary · drafted by claude-opus-5 · facts as of Aug 18, 2026
Sources: Frax frxUSD balance sheet (live) and Frax transparency
- Collateral
- Tokenized cash-equivalent reserves held by governance-approved enshrined custodians, each of which mints and redeems frxUSD against its backing asset subject to caps and fees. The official balance sheet at 2026-10-01T07:43:47Z reports WTGXX, USTB, BUIDL, Agora AUSD, USDC, a small Bridge USDB balance, and the Erebor Bank FBO frxUSD reserve account. WTGXX is held both in the redemption contract and in Frax Inc's BitGo Trust Account. Governance approval alone does not establish a current balance for other eligible assets.
- Peg Mechanism
- 1:1 mint and redemption through governance-approved enshrined custodians; each custodian holds provable on-chain reserves and can mint or burn frxUSD 1:1; redeemable from any custodian with available collateral
- Jurisdiction
- United States
- Proof Of Reserves
- Real-Time PoR by Frax/Chaos Labs reserve index; Erebor cash issuer-disclosed Reserve source
Next Actions
Exact bot target: /subscribe dews,depeg,safety frxusd-frax
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Aug 18, 2026.
FRXUSD quick answers
What is Frax USD (FRXUSD)?
frxUSD is Frax's tokenized-T-bill-backed dollar, minted 1:1 by governance-approved custodians holding BUIDL, USTB, WTGXX, and other tokenized cash-equivalents. The static profile records its US Dollar peg mechanism as: 1:1 mint and redemption through governance-approved enshrined custodians; each custodian holds provable on-chain reserves and can mint or burn frxUSD 1:1; redeemable from any custodian with available collateral
Is FRXUSD safe?
FRXUSD holds a B Safety Score grade (70/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Frax USD uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with Real-Time PoR from Frax/Chaos Labs reserve index; Erebor cash issuer-disclosed; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs FRXUSD?
Pharos classifies FRXUSD backing as Real-World Asset Backed. Collateral, per the static profile: Tokenized cash-equivalent reserves held by governance-approved enshrined custodians, each of which mints and redeems frxUSD against its backing asset subject to caps and fees. Reserve evidence: Real-Time PoR from Frax/Chaos Labs reserve index; Erebor cash issuer-disclosed.
Can FRXUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for FRXUSD, when applicable, appear in the dossier below.
