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frxUSD — Frax Finance

Hybrid fractional-algorithmic stablecoin transitioning toward full RWA backing.

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Category
Algorithmic / Crypto-backed
Regulatory regime
Decentralized / Unregulated
Issuer
Frax Finance
Region
Global / DeFi
Peg
USD

Blockchain protocols

EthereumFraxtalArbitrum

How it works

Combination of collateral pools, AMOs, and partnerships with custodians for T-bill exposure.

Revenue model

AMO yield, lending spreads, RWA returns.

Regulation

Decentralized; RWA custody via regulated partners.