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Market cap
DIA price
Total supply
Holders
219.3M FRAXpartial
DIA holds no verified contract address on Fraxtal. The figure above is a floor.
11,176holders
What the top-10 is
Shares of the same supply as Top-10, from public address labels covering 93.3% of the top-10 balance. Exchange custody is one address holding for many end holders. Unattributed means unlabelled, not self-custodied.
Measured on Ethereum. Shares are of the Ethereum supply, not the multi-chain total.
$0since Fri, Aug 28 UTC
Change in the supply DIA reads across this coin’s chains, between two daily snapshots. Not mints minus redeems: DIA does not publish issuance flow.
Market data · CoinGecko
Market data · CoinGecko
Circulating supply · DeFiLlama
Aggregator figure, not a contract read. DIA’s own onchain supply is the separate series below.
Percentage change in FRAX's circulating supply as reported by DeFiLlama, measured against that source's own past. It is not a change in the onchain supply above, which DIA reads from the contracts directly and which is a different measurement of the same coin. A dash means the map has no reading close enough to the start of the window, a stretch inside it where supply was not reported at all, or a starting figure too small for a percentage to describe. Hover a dash for which.
$3.0M
deployed across 40 markets on 4 protocols
Lower bound: FRAX's balance inside lending markets DIA reads on-chain directly. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track. The share above is measured against a partial onchain supply figure — DIA has not yet read Fraxtal.
DIA price
$0.9919
Peg deviation
-81 bps
Peg currency
USD
Launched
Primary use
—
Last snapshot
Fri, Sep 4 UTC
Two tokens, one ticker
The FRAX ticker moved in 2025. FIP-428, the North Star proposal, renamed the FXS governance token to FRAX and renamed the original FRAX stablecoin to Legacy Frax Dollar. Frax's current protocol docs describe FRAX as the scarce commodity asset and native gas token of the Fraxtal blockchain, and state plainly that it is not a governance token.
What this page covers
This page covers the original ERC-20 stablecoin at 0x853d955aCEf822Db058eb8505911ED77F175b99e, issued by Frax Finance and pegged to the US dollar. Blockscout returns its on-chain name as Legacy Frax Dollar and its symbol as FRAX. Frax's own bond documentation uses the ticker LFRAX for it. The dollar stablecoin Frax now markets is frxUSD, a separate token with a separate backing model.
Sources: Frax Finance Governance, FIP-428 Frax North Star Proposal V2, Frax docs, FRAX token overview (gas and commodity asset), Blockscout token API, 0x853d955aCEf822Db058eb8505911ED77F175b99e
An AMO balance sheet
FIP-430 keeps Legacy Frax Dollar on its AMO-driven, DeFi-native model while frxUSD moves to a regulated, fiat-redeemable architecture. Frax's protocol docs define an AMO as an autonomous contract that runs monetary policy so long as it does not move the FRAX price off its peg. AMOs act along three paths: decollateralize, market operations, and recollateralize, each defined against the protocol's collateral ratio.
What is not published
No reserve attestation for Legacy Frax Dollar appears in Frax's documentation. The frxUSD documentation set carries pages for mint and redeem routes, contract addresses and cross-chain transfers, and no proof of reserves or attestation page. Frax's balance-sheet dashboard at facts.frax.finance renders its values in the browser and returns no figures in the page source, so no collateral ratio is quoted here. frxUSD by contrast is documented as backed 1-to-1 by permitted cash-equivalent reserves such as tokenized US Treasury funds, held by enshrined custodians that mint and burn against $1.00 of reserves.
Sources: Frax Finance Governance, FIP-430 Preparation for frxUSD Payment Stablecoin Charter Compliance, Frax docs, AMO (Algorithmic Market Operations Controller) overview, Frax docs, frxUSD asset page (backing and enshrined custodians)
The 1-to-1 exit closed
FIP-430 ended the guaranteed migration from Legacy Frax Dollar into frxUSD. The proposal says holders can still swap between the two stablecoins on secondary markets such as Curve and Uniswap, and that the Frax DAO no longer guarantees the 1-to-1 conversion.
Where the price sits
The registry price for FRAX is $0.9915, about 85 basis points below the dollar. The mechanism FIP-430 leaves in place is the AMO recollateralize path, which raises the collateral ratio when the peg slips.
Sources: Frax Finance Governance, FIP-430 (end of guaranteed Legacy FRAX to frxUSD migration), Frax docs, AMO overview (recollateralize and collateral ratio)
Frax's FXB tokens are zero-coupon bonds that convert one-to-one into LFRAX at maturity. FIP-430 moved the Fraxtal FXBs off frxUSD collateral and back onto Legacy Frax Dollar. Frax's project update of July 19, 2025 recorded that ChainSecurity completed the code audit for that change and that existing FXBs were upgraded.
FIP-430 commits the Frax DAO core team to keeping Legacy Frax Dollar active, liquid and usable across DeFi protocols and chains, with incentives and utility, for at least one year. Lending markets that take the token as collateral are tracked in the DeFi vault and lending map.
Sources: Frax docs, FXB (Frax Bonds) overview, Frax Finance biweekly project update #19, 19 July 2025, Frax Finance Governance, FIP-430 (DAO support commitment for Legacy FRAX Dollar)
Frax is pursuing a US licence for frxUSD, and explicitly not for FRAX. FIP-432 delegated frxUSD compliance operations and collateral composition to FRAX Inc, described as a regulated public benefit corporation, with authority over RWA custodians, regulated issuers and banking relationships, and instructed it to pursue a stablecoin licence in the United States under the GENIUS Bill. The DAO retained the right to revoke, modify or reassign that delegation.
FIP-430 drew the boundary on the other side. It excluded legacy FRAX from those compliance obligations, on the grounds that its AMO system and other historical mechanics differ from the coming US payment stablecoin rules. It committed the Frax DAO core team to keeping legacy FRAX active, liquid and usable across DeFi protocols and chains, with incentives and utility, for at least one year. No licence has been confirmed for either token in the sources read here.
Sources: Frax governance, FIP-432: FRAX Inc mandate and GENIUS Bill licence, Frax governance, FIP-430: legacy FRAX excluded from payment stablecoin compliance
Two live tokens answer to FRAX
The Fraxtal gas and commodity token is named Frax and carries the FRAX ticker. The Ethereum ERC-20 carries the same symbol and is a dollar stablecoin. An integration that keys on the symbol alone can resolve to the wrong asset.
No redemption path
The DAO's 1-to-1 migration into frxUSD has ended, and Frax's documentation records no fiat or custodian redemption route for Legacy Frax Dollar. Selling into a secondary pool is the exit.
A compliance mismatch the issuer states
FIP-430 says the Legacy Frax Dollar economic model would not be compatible with the GENIUS Act and the STABLE Act as proposed in Congress. That incompatibility is the reason the proposal gives for building frxUSD on separate rails.
Sources: Frax Finance Governance, FIP-430 (GENIUS Act and STABLE Act incompatibility, end of migration), Frax docs, FRAX token overview (Fraxtal gas and commodity token)
What the map reads
The Global Stablecoin Map tracks FRAX on Ethereum, at contract 0x853d955aCEf822Db058eb8505911ED77F175b99e. On-chain supply is about 219.3 million tokens across roughly 11,200 holding addresses. Both match what the Blockscout token API returns for the same contract. The registry price is $0.9915, a DIA first-party figure.
What it does not read
The registry lists Fraxtal alongside Ethereum for this coin, and the per-chain split attributes the entire float to Ethereum. No Fraxtal contract is recorded, so any Fraxtal balance sits outside that supply figure. Backing is not read on chain either: the AMO model holds protocol assets across contracts and venues the map does not enumerate. FRAX is filed under the global region in the stablecoin explorer.
Sources: Blockscout token API, Legacy Frax Dollar supply and holder count, Frax docs, AMO overview (protocol-held collateral model)
No. Under FIP-428, the North Star proposal, Frax Finance renamed the original FRAX stablecoin to Legacy Frax Dollar in 2025 and renamed the FXS governance token to FRAX. [frxUSD](/global-stablecoins/stablecoin/frxusd/) is a separate stablecoin with its own contracts, custodians and redemption routes.
No. FIP-430 ended the guaranteed migration from Legacy Frax Dollar to [frxUSD](/global-stablecoins/stablecoin/frxusd/). The proposal says holders can still swap between the two on secondary markets such as Curve and Uniswap, at whatever price those markets quote.
No reserve attestation for Legacy Frax Dollar appears in Frax's documentation. The token runs on the AMO model, and the protocol balance-sheet dashboard renders its values in the browser rather than in the page source.
The Global Stablecoin Map reads FRAX on Ethereum, at contract 0x853d955aCEf822Db058eb8505911ED77F175b99e. The registry also lists Fraxtal, but no Fraxtal contract is recorded, so the whole tracked float sits on Ethereum.
0x853d955a…F175b99eExplorer ↗Supply on this page is read from these contracts. Addresses are verified by DIA against the issuer’s own published documentation.
0x853d955a…f175b99eRead from the deployed contract. “Not determined” means the contract’s full function set could not be enumerated, not that the capability is absent: a bytecode scan can confirm that a function exists and can never prove that one does not.