What is FRAX's quality score?

FRAX (Frax Finance) scores 29.3/100 on OnChain Benchmark's Stablecoin Quality Rating — Limited, as of Oct 10, 2026 (methodology v1.5-stablecoin).

How is FRAX's quality score calculated?

OnChain Benchmark scores FRAX across four equally weighted dimensions, each out of 25: reserve quality (18/25), redemption depth (4/25), transparency (0/25), holder concentration (not published). The 29.3/100 composite reflects the three measured dimensions, renormalized. The full rubric is published at onchainbenchmark.com/methodology.

What does Limited mean?

Under OnChain Benchmark methodology v1.5-stablecoin, composite scores grade as Verified Capital (≥ 85), Institutional-grade (≥ 70), Developing (55–69), and Limited (below 55). FRAX scores 29.3/100, placing it in Limited. Note that one of four dimensions cannot yet be measured for this instrument: It is not yet measured to our standard, so no concentration figure is published. The composite reflects the three measured dimensions, renormalized.

OCB — Quality Rating · Stablecoins

FRAX Quality Rating

Q: How concentrated is FRAX's ownership?

OnChain Benchmark does not publish a holder-concentration figure for FRAX. It is not yet measured to our standard, so no concentration figure is published. FRAX's composite reflects its other measured dimensions.

FRAX (Frax Finance) scores 29.3/100 on OnChain Benchmark's Stablecoin Quality Rating — rated Limited (methodology v1.5-stablecoin, as of Oct 10, 2026).

Latest onchain read Oct 10, 2026

Updated daily

Quality score

29.3

of 100 · Limited

Dimensions measured

of 4

Outstanding supply

$219.31M

as of Oct 10, 2026

Chains

with measured supply

Why FRAX scores 29.3

The biggest gap in FRAX's score is that no reserve report is on record.

The three measured dimensions total 22 of a possible 75. Rescaled to 100, that is 29.3.

Composite

29.3 / 100

Dimension	Score	Why it scored this
Transparency No reserve report is on record. No regulatory license or charter is on record for the issuer. Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.	0 / 25	No reserve report is on record. No regulatory license or charter is on record for the issuer. Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.
Redemption Depth Onchain trading depth is limited: about $1,384 can be sold within 1% of the peg. Upgrade factorMore onchain liquidity: $1.00M or more tradable within 1% of the peg (9 of 25).	4 / 25	Onchain trading depth is limited: about $1,384 can be sold within 1% of the peg. Upgrade factorMore onchain liquidity: $1.00M or more tradable within 1% of the peg (9 of 25).
Reserve Quality The reserves include short-term assets beyond cash and Treasury bills. Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).	18 / 25	The reserves include short-term assets beyond cash and Treasury bills. Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).
Holder Concentration It is not yet measured to our standard, so no concentration figure is published.	— / 25	It is not yet measured to our standard, so no concentration figure is published.

OCB Instrument

Outstanding supply

Measured onchain daily, summed across every chain the fund is issued on. Latest reading $219.31M.

Source: OCB Quality Ratings · FRAX · onchainbenchmark.comMeasured daily · Oct 10, 2026

OCB Instrument

Rating history

FRAX’s quality rating, measured daily.

Source: OCB Quality Ratings · FRAX · onchainbenchmark.comRecomputed daily · Oct 10, 2026

Key facts

Issuer, rubric and methodology

Issuer: Frax Finance
Asset class: Stablecoins
Rubric: Stablecoin Quality Rating
Methodology: v1.5-stablecoin
Last scored: Oct 10, 2026
What it is: Fully exogenously-collateralized stablecoin (v3) backed by USDC, sFRAX, and T-bill AMO positions.

Chain

Share of measured supply by chain

With measured supply

Chain	Contract	Share of measured supply
Ethereum	0x853d95…75b99eExplorer ↗	100.0%

Supply scope: Onchain total supply; includes protocol-owned (AMO/treasury) FRAX

Evidence

Verified facts behind the rating

A sample of the verified facts behind FRAX’s score. The full diligence trail is in the terminal.

Facts shown

Dimension	Fact	Finding	Verified	Source
Disclosure Quality	Contract address	Contract address verified on Ethereum: 0x853d955aCEf822Db058eb8505911ED77F175b99e (primary deployment) Address confirmed active onchain.	Jun 13, 2026	Verified against primary sources

Cite this rating

Reference FRAX’s rating

Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.

Plain

OnChain Benchmark (2026). FRAX Quality Rating: 29.3/100 (Limited), as of Oct 10, 2026. Methodology v1.5-stablecoin. https://onchainbenchmark.com/instruments/frax

Harvard

OnChain Benchmark (2026) 'FRAX Quality Rating', OnChain Benchmark, Limited, 29.3/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/frax (Accessed: Oct 10, 2026).

BibTeX

@misc{ocb_frax_2026,
  author = {{OnChain Benchmark}},
  title = {{FRAX Quality Rating}},
  year = {2026},
  note = {29.3/100, Limited, methodology v1.5-stablecoin},
  url = {https://onchainbenchmark.com/instruments/frax}
}

Full diligence trail

The interactive terminal shows every verified fact behind FRAX's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.

Open in the terminal →Read the methodology →

Dimension

Score

Transparency

No reserve report is on record. No regulatory license or charter is on record for the issuer.

Upgrade factorPublishing regular reserve reports, confirmed by an independent auditor.

0 / 25

Redemption Depth

Onchain trading depth is limited: about $1,384 can be sold within 1% of the peg.

Upgrade factorMore onchain liquidity: $1.00M or more tradable within 1% of the peg (9 of 25).

4 / 25

Reserve Quality

The reserves include short-term assets beyond cash and Treasury bills.

Upgrade factorReserves held in cash and Treasury bills, confirmed by an auditor (23).

18 / 25

Holder Concentration

It is not yet measured to our standard, so no concentration figure is published.

— / 25

Chain

Share of measured supply

Ethereum

100.0%

Dimension

Finding

Verified

Disclosure Quality

Contract address verified on Ethereum: 0x853d955aCEf822Db058eb8505911ED77F175b99e (primary deployment)

Address confirmed active onchain.

Jun 13, 2026

OnChain Benchmark (2026) 'FRAX Quality Rating', OnChain Benchmark, Limited, 29.3/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/frax (Accessed: Oct 10, 2026).

@misc{ocb_frax_2026, author = {{OnChain Benchmark}}, title = {{FRAX Quality Rating}}, year = {2026}, note = {29.3/100, Limited, methodology v1.5-stablecoin}, url = {https://onchainbenchmark.com/instruments/frax} }