Legacy Frax Dollar

Legacy Frax Dollar, ticker FRAX, is a USD-pegged stablecoin designed to maintain a value of one US dollar and serve as a stable medium of exchange and unit of account within decentralised finance. It describes itself as the first fractional-algorithmic stablecoin, meaning it was originally backed by a combination of collateral and algorithmic supply adjustments rather than by full collateral alone. It is intended for users who want price stability in DeFi without relying solely on a fully collateralised model.

FRAX operates across multiple blockchain ecosystems including Ethereum, BNB Chain, Avalanche, Polygon, and Fantom, meaning the token exists in bridged or native form on each of those networks. The fractional-algorithmic design originally meant that only a fraction of each FRAX was backed by collateral such as USDC, while the remainder was stabilised through a governance and seigniorage token mechanism that could expand or contract supply. No consensus algorithm or block time is recorded for FRAX itself because it is a token that runs on top of existing base-layer blockchains rather than operating its own chain.

The data stored for this asset does not include a protocol fee stream, so no fee source, payer, or recipient can be described from the available figures. The circulating stablecoin supply stands at 150,091,238.96 FRAX at the point in time recorded, and that supply grew by approximately 1.60 percent over the preceding 30 days. The 24-hour turnover ratio is 0.099, meaning trading volume over the past day represented roughly 9.9 percent of market capitalisation, and the 30-day average turnover ratio is 0.151, indicating how actively the token has circulated relative to its size over that period.