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Issuer Profile

Frax Finance

Frax Finance operates a decentralized stablecoin protocol; FRAX v3 is fully exogenously collateralized by T-bill AMO positions and USDC.

frax.finance ↗
Aggregate quality score
29.3/ 100
Weighted by outstanding supply
Tracked capital$219.31M
Instruments1
OCB — 01·Coverage
$219.31M total tracked capital

1 instrument under coverage

Instruments under this issuer, by trust score.
InstrumentClassScoreTierSupply (USD)Trace
FRAXStablecoin29.3LIMITED$219.31M
OCB — 02·Score history
89 readings

Frax Finance — aggregate quality score, 90 days

Frax Finance — Aggregate Quality Score

Weighted-average composite score (0–100)

Fig 1

Frax Finance aggregate quality score is 29.3 as of Oct 10, 2026, weighted by outstanding supply across 1 rated instrument.

ONCHAIN
BENCHMARK
QUALITY SCORE 0–100 DATE 0 30 60 90 100 Jul 26 Jul 26 Aug 26 Aug 26 Aug 26 Sep 26 Sep 26 Sep 26 Oct 26 29.3
Source: OCB Quality Ratings · Frax Finance · onchainbenchmark.comUpdated daily
OCB — 03·Issuer metadata

Regulatory standing and governance

Regulatory status
No supervising regulator identified for the issuer
Legal structure
Decentralized protocol (veFXS governance); entity: Frax Finance (no formal legal wrapper confirmed ≥90%)
Change control
multi-signer
Homepage
https://frax.finance ↗
Financial auditor
Not publicly disclosed
Methodology

Each instrument under Frax Finance is scored independently across four dimensions — Reserve Quality, Redemption Depth, Transparency, and Holder Concentration — contributing up to 25 points each. The aggregate score shown here is weighted by outstanding supply across 1 rated instrument.

Read the full methodology →
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