Frax USD (FRXUSD)

If, as a stablecoin protocol, you're not pairing with $frxUSD, you're doing it wrong.

Long live @fraxfinance!

Pre-deposits for @Tangent_fi are now live 🥳

frxUSD is one of two default stablecoins selected to secure a $TAN allocation. The Tangent protocol uses frxUSD as a DeFi primitive to power its product.

Learn more 👇

Stablecoin Spotlight of the Week: frxUSD

Most stablecoins are built to hold a peg and hope the market agrees. frxUSD by @fraxfinance has gone further than that.

USP by @piku_dao, USG by @Tangent_fi, and USSD by @SonicLabs, to name a few all route through frxUSD as a peg keeper. Other stablecoins are building on top of it. frxUSD has become the infrastructure other stablecoins depend on.

Here is what our data says:

Overall Score: B (72/100)
Peg Stability: A+ (99/100)
Exit Liquidity: A- (80/100)
Resilience: B+ (78/100)
Decentralization: B+ (75/100)
Dependency Risk: C (58/100)

DEWS: 10/100 — Calm
Market Cap: $138M 90D Net Flow: +$19M

450 days streak without a depeg event. No F grade across any sub-dimension. Among the 353 stablecoins Pharos tracks, that combination is rare.

The exit liquidity picture is one of the strongest we have seen in this series. A 93-rated atomic redemption backstop through enshrined custodians gives frxUSD one of the most reliable exit routes among crypto-native stablecoins