Market Data
About Frax USD
Frax USD (frxUSD) is a fiat-redeemable, fully-collateralized stablecoin issued by the Frax Finance Protocol. It operates using a hybrid model where governance-approved enshrined custodians mint and redeem frxUSD backed by cash-equivalent reserves. The protocol utilizes advanced onchain mechanisms to ensure stability, security, and seamless usability across decentralized and traditional financial systems, functioning in a permissionless manner while allowing institutional onboarding.
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