Frax Finance

About

Frax Finance is a well-known DeFi platform for developing an algorithmic stablecoin called FRAX, along with its other products and ecosystem across multiple blockchains. The company was founded by Sam Kazemain, Travis Moore, and Jason Huan. The platform gained popularity due to its early nature as one of the first fractional-algorithmic stablecoin projects. Over time, the project evolved into an entire DeFi ecosystem that offered a range of services focused on stablecoins, cryptocurrency loans, staking, decentralized exchanges, and liquidity pools. Frax Finance Details Attribute Details Native Blockchain Ethereum Own Blockchain Fraxtal (Ethereum Layer 2) Governance Token FRAX (formerly FXS) (legacy governance token); governance is exercised through veFXS voting power. Primary Stablecoin frxUSD (formerly FRAX) Additional Stable Assets FPI (Frax Price Index), frxETH, sfrxETH, sfrxUSD Protocol Type Stablecoin protocol, Lending protocol, Automated Market Maker (AMM), Liquid Staking, Cross-chain Infrastructure, Layer 2 Blockchain Liquid Staking Solution frxETH and sfrxETH Wallet Support Any EVM-compatible wallet such as MetaMask, Rabby, Coinbase Wallet, Rainbow, WalletConnect-supported wallets Supported Blockchains Ethereum, Fraxtal, Arbitrum, Optimism, Base, Polygon, BNB Chain, Avalanche, Fantom and multiple LayerZero-supported networks. Cross-chain Technology LayerZero Omnichain Fungible Token (OFT) standard and Fraxferry Staking Products sfrxETH, sFRAX Yield Products Staking, Lending, Liquidity Provision Governance Voting veFXS holders vote on protocol proposals, treasury management, smart contract parameters, and protocol upgrades. Developer Resources Documentation, GitHub repositories, APIs, smart contract documentation Main Use Cases Stablecoin issuance, decentralized lending, liquid ETH staking, decentralized trading, yield generation, governance, cross-chain asset transfers Key Features of Frax Finance • • The native stablecoin of the ecosystem, FRAX, tries to sustain a price point around 1 USD. • frxETH allows users to participate in Ethereum liquid staking while keeping ETH liquid. • Fraxlend supports decentralized crypto borrowing and lending without centralized platforms. • Fraxswap enables token swaps, liquidity management, and AMM trading inside the ecosystem. • FXS gives holders governance rights for voting on protocol upgrades and the ecosystem. • The ecosystem operates across multiple blockchains, including Ethereum, Polygon, Avalanche, and Fantom. • Users can earn rewards through staking, lending, liquidity pools, and stablecoin strategies. Frax Finance Native Token - FRAX • • Current Native Token - FRAX • Previous Native Token - FXS (Frax Share) • Token Migration - FXS was upgraded to FRAX on a 1:1 basis in 2025. • Primary Utility - Native gas token of the Fraxtal blockchain, ecosystem utility token, staking asset, and governance through veFRAX. • Governance Mechanism - veFRAX (formerly veFXS) • Blockchain - Native to the Fraxtal blockchain • Use Cases - Pay gas fees, staking, validator security, governance voting (via veFRAX), ecosystem incentives, and protocol participation. Frax Finance Products Product Category frxUSD Stablecoin sfrxUSD Savings Stablecoin frxETH Liquid Staking Token sfrxETH Yield-Bearing Staking Token FPI (Frax Price Index) Inflation-Indexed Stablecoin Fraxtal Ethereum Layer 2 (L2) modular rollup network FraxNet Payments & Financial Network Fraxlend Lending Protocol Fraxswap Decentralized Exchange (DEX) Frax Governance (FRAX Token) Governance Token

Team (8)

• Nader GhazviniGovernance and core-team operations
• Jae Yun YiBusiness Development Manager
• Jason HuanCo-founder
• Sam KazemianOther, Chief Executive Officer
• James AlstonBoard/advisory/investor support
• Travis MooreOther, Chief Technology Officer
• Nader GhazviniCo-Founder of Fraxtal Network
• Jae Yun YiCommunity Moderator

Funding

• Series ACrypto.com Arena001 Aug 2021

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