Frax Finance

Stablecoins have become a core layer of onchain activity, used for settlement, payments, yield strategies, and treasury operations across digital finance.

Frax Finance is building toward this reality by focusing on institutional-grade stablecoin systems rather than isolated DeFi products. Instead of shipping one-off applications, Frax is structured as a unified stack designed for capital that stays deployed.

At its core, Frax combines a protocol-native digital dollar, standardized yield products, and dedicated execution infrastructure to give users a consistent way to hold, deploy, and earn on stablecoins without constantly moving capital between protocols.

The ecosystem is organized around three core components, each with a clear role:

• FraxNet is the access framework for minting, redeeming, and managing frxUSD through a non-custodial, onchain interface built to operate within institutional constraints.

• frxUSD is the fully backed digital dollar, used for settlement, payments, and yield.

• Fraxtal is the execution environment where yield distribution and incentives are anchored.

Alongside these components, $FRAX functions as the ecosystem’s governance and value-alignment token, with network-level utility including gas usage on the Fraxtal Layer 1 chain.

🪂 Within this structure, Frax operates a live FXTL points system tied to eligible balances and protocol participation on Fraxtal. FXTL points accrue over time. They are not a token and are not positioned as a guaranteed airdrop, but as a participation metric within the Fraxtal ecosystem.