OCB — Trust Rating
FRAX Trust Rating
Frax Finance · Fully exogenously-collateralized stablecoin (v3) backed by USDC, sFRAX, and T-bill AMO positions.
FRAX (Frax Finance) scores 29/100 on OnChain Benchmark's Stablecoin Quality Rating — Flagged band — across four dimensions: reserve quality 18/25, redemption depth 4/25, transparency 0/25, and holder concentration withheld (not measurable to ground truth) (methodology v1.4-stablecoin, as of Aug 26, 2026).
Stablecoin Quality Rating
OCB — 01
FRAX across four dimensions
Each dimension is scored out of 25, and the four add directly to the /100 composite — an equal-weight, plain sum. Last scored Aug 26, 2026 on methodology v1.4-stablecoin.
| Dimension | Score |
|---|---|
| Reserve Quality | 18 / 25 |
| Redemption Depth | 4 / 25 |
| Transparency | 0 / 25 |
| Holder Concentration | Not measured |
| CompositeΣ (score) | 29 / 100 |
Holder Concentration is withheld for this instrument. Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. The composite reflects the three measured dimensions, renormalized.
OCB — 02
OCB Instrument
Outstanding supply
OCB — 03
OCB Instrument
Rating history
OCB — 04
Evidence behind the rating
A sample of the verified facts behind FRAX's score. Each finding carries a confidence level; the full diligence trail is in the terminal.
- Disclosure Qualitycontract address95% confidence
Contract address verified on Ethereum: 0x853d955aCEf822Db058eb8505911ED77F175b99e (primary deployment)
Address confirmed active onchain.
Verified Jun 13, 2026· instrument_deployments registry — chain_id 1 - Redemption Liquiditydata gap90% confidence
No redemption liquidity data available at time of scoring run.
This gap is re-checked on every scoring run and will close once verifiable data is available.
Verified Jun 13, 2026 - Holder Concentrationholder concentration snapshot90% confidence
Top-10 holders control 93.31% of supply (after excluding protocol-controlled addresses). 1 protocol-controlled address excluded from concentration calculation. Concentration track: retail_facing.
Holder snapshot refreshes on a rolling basis and may be up to 36 hours old.
Verified Jun 13, 2026· norm_concentration row observed 1d ago
OCB — 05
Key facts
- Issuer
- Frax Finance
- Asset class
- Stablecoin
- Chains
- Ethereum
- Methodology
- v1.4-stablecoin
- Last scored
- Aug 26, 2026
- Rubric
- Stablecoin Quality Rating
Supply figure: Onchain total supply; includes ~$83M protocol-owned (AMO/treasury) FRAX
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.