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Frax reviews

Average rating of 90% based on 1 review.

Founded 5 years ago in 2019.

Use anonymously. No KYC required.

Decentralised exchange.

Frax Crypto Platform

Frax Finance is a decentralized lending platform that was founded by Sam Kazemian in 2019. Sam Kazemian is a UCLA 15 graduate and founder of Everipedia, the first decentralized Wikipedia-like encyclopedia built on a blockchain. Sam Kazemian is an early crypto investor and later founded Frax. Frax Finance is the inventor of the fractional stablecoin FRAX. Frax Finance is registered in the Cayman Islands. The company has raised funds two times, the first one is a seed round with Ascensive Assets and the second is a venture round with Crypto.com Capital according to Crunchbase.
 
The Frax Finance protocol provides swap, staking, borrowing, lending and bridging services for users. The protocol requires knowledge about crypto and blockchain more fundamental level. The protocol is a little hard to navigate and understand the different tools on the dashboard. The Frax first started as a crypto bank and expanded its operations over time. Now, Frax Finance has its own stablecoin and provides various crypto finance services. Anyone with a web wallet can visit the protocol’s app website and start using it. The protocol is permissionless and trustless. Frax Finance doesn’t require any KYC or AML steps. You don’t need a credit score to borrow funds on the platform.
 
Frax is an innovative stablecoin project in the crypto market by its fractional structure. The Frax is an asset-backed stablecoin its value is also secured with an algorithm. Frax is an ERC20 token created on the Ethereum network. The protocol also has another token called Frax Shares (FXS) for governing purposes. To mint a FRAX stablecoin, the protocol must provide assets to back up some percentage and burn the Frax Shares for the remaining percentage. By burning Frax Shares, community members are more committed to the protocol and it is guaranteed that the protocol always has enough funds to back its stablecoins. There is a good explanation on Gemini’s website about the FRAX as a stablecoin.
 
Frax Finance has published audit reports on the official Docs page. Well-known audit firm Certik completed its first audit in 2020. Trail of Bits audit company has audited Frax Finance two times for the first half and the second half of 2021. There are three audit reports from three different audit firms in 2022 and one of them is still being delivered. The Frax protocol hasn’t been hacked or exploited in its three years history.

Pros

tick $62,259,211 USD currently invested (TVL)
tick Investments in 27 coin pairs available
tick Supports 8 protocols including Optimism, Arbitrum and Ethereum

Cons

cross Investments in liquidity pools can be higher risk
cross Liquidity pool investments are only suitable for advanced crypto users

Frax Staking Yields

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  Product Yield Chain Term Yield Yield Trend TVL TVL Trend
SYN-FRAX
25.1%
FRAX 25.1% APY
SYN
Ethereum
Instant Access
25.1%
FRAX 25.1% APY
SYN
$128,585
VST-FRAX
10.1%
FXS 10.1% APY
VST
Arbitrum
Instant Access
10.1%
FXS 10.1% APY
VST
$3,911,041
FRAX-ZZ
4.81%
FRAX 4.81% APY
ZZ
Ethereum
Instant Access
4.81%
FRAX 4.81% APY
ZZ
$16,234
SFRXETH
4.4%
WETH 4.4% APY
Ethereum
Instant Access
4.4%
WETH 4.4% APY
$424,614,636
WFTM-FRAX
2.85%
FRAX 2.85% APY
WFTM
Fantom Opera
Instant Access
2.85%
FRAX 2.85% APY
WFTM
$355,039
WMATIC-FRAX
2.47%
FRAX 2.47% APY
WMATIC
Polygon
Instant Access
2.47%
FRAX 2.47% APY
WMATIC
$730,677
FXS-FRAX
2.37%
FRAX 2.37% APY
FXS
Ethereum
Instant Access
2.37%
FRAX 2.37% APY
FXS
$34,275,553
FRAX-WGLMR
2.09%
FRAX 2.09% APY
WGLMR
Moonbeam
Instant Access
2.09%
FRAX 2.09% APY
WGLMR
$708,535
WAVAX-FRAX
1.59%
FRAX 1.59% APY
WAVAX
Avalanche C-Chain
Instant Access
1.59%
FRAX 1.59% APY
WAVAX
$508,748
FRAX-WETH
1.58%
WETH 1.58% APY
FRAX
Ethereum
Instant Access
1.58%
WETH 1.58% APY
FRAX
$3,576,514
FRAX-WBNB
1.31%
FRAX 1.31% APY
WBNB
Binance Smart Chain
Instant Access
1.31%
FRAX 1.31% APY
WBNB
$300,916
FRAX-WETH
1.28%
WETH 1.28% APY
FRAX
Arbitrum
Instant Access
1.28%
WETH 1.28% APY
FRAX
$1,214,408
FRAX-FXS
1.12%
FRAX 1.12% APY
FXS
Binance Smart Chain
Instant Access
1.12%
FRAX 1.12% APY
FXS
$770,743
FRAX-FXS
1.05%
FRAX 1.05% APY
FXS
Arbitrum
Instant Access
1.05%
FRAX 1.05% APY
FXS
$1,068,416
FRAX-WETH
1.05%
WETH 1.05% APY
FRAX
Optimism
Instant Access
1.05%
WETH 1.05% APY
FRAX
$750,029
FXS-FRAX
0.79%
FRAX 0.79% APY
FXS
Avalanche C-Chain
Instant Access
0.79%
FRAX 0.79% APY
FXS
$930,364
FXS-FRAX
0.78%
FRAX 0.78% APY
FXS
Polygon
Instant Access
0.78%
FRAX 0.78% APY
FXS
$944,228
FRAX-FPIS
0.75%
FRAX 0.75% APY
FPIS
Ethereum
Instant Access
0.75%
FRAX 0.75% APY
FPIS
$4,270,941
FXS-FPIS
0.74%
FXS 0.74% APY
FPIS
Ethereum
Instant Access
0.74%
FXS 0.74% APY
FPIS
$27,549
FXS-FRAX
0.74%
FRAX 0.74% APY
FXS
Fantom Opera
Instant Access
0.74%
FRAX 0.74% APY
FXS
$1,025,393
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Frax Reviews

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Frax YouTube Reviews

Frax Supported Currencies

Frax supports over 10 currencies including Frax Share, Wrapped BNB, Synapse and Wrapped Matic.

Frax Key Data

Company
Year founded 2019
Decentralised tick Yes
Open source tick Yes
Security
Know your customer cross No
Key People
Sam Kazemian
Founder
Jason Huan
Co-Founder
Travis Moore
Co-Founder

ALooking at reviews from across the web, Frax has an average review score of 90% based on 1 review.

Useful Links

Frax Contact Details

https://frax.finance/

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