Price change (24h):
0.32%
High (24h):
$1.21
Low (24h):
$1.19
Volume (24h):
$5.46K
Market Cap:
$34.79M
All Time High:
4.43% $1.26
Sep 12, 2025
All Time Low:
14% $1.06
Feb 28, 2025
5.61 %(1Y)
$1.21
Price change (24h):
0.32%
High (24h):
$1.21
Low (24h):
$1.19
Volume (24h):
$5.46K
Market Cap:
$34.79M
All Time High:
4.43% $1.26
Sep 12, 2025
All Time Low:
14% $1.06
Feb 28, 2025
Staked Frax USD (sfrxUSD) is a cryptocurrency launched in 2025. It functions as a yield-bearing stablecoin deeply embedded in the Frax decentralized finance protocol suite.
The protocol targets a specific market friction — the fragmented and often suboptimal on-chain yield environment for dollar-pegged assets. Instead of static returns, sfrxUSD dynamically rotates across three governance-sanctioned strategies: carry-trade opportunities, Algorithmic Market Operations (AMOs), and the Interest on Reserve Balances (IORB) rate. This alternating benchmark-rate mechanism ensures the asset perpetually captures the most competitive annual percentage yield available without manual intervention.
Staked Frax USD operates on the Ethereum network. Its smart contract architecture lives entirely on Ethereum, tapping the base layer’s settlement guarantees and deep composability. The token does not sit on its own chain but rather exists as an ERC-4626 vault wrapper around the underlying frxUSD stablecoin.
As an ERC-4626 token, sfrxUSD standardizes the receipt and management of yield-bearing positions without rebasing—a stark departure from earlier staked token designs. Redemption for the underlying frxUSD carries no unstaking fee and exerts zero price impact. Contract deployments extend across Mode, Sonic, Katana, Sei v2, and Fraxtal, yet Ethereum remains the canonical issuance layer, anchoring a multi-network footprint.
The Frax Finance ecosystem, known for pioneering fractional-algorithmic stablecoin mechanisms, introduced sfrxUSD on January 7, 2025. The launch marked a deliberate expansion into liquid staking derivatives for its debt-backed frxUSD stablecoin. Early adoption concentrated among DeFi treasuries and DAOs seeking to optimize idle stablecoin allocations with a single, transparent instrument.
The project’s long-term vision reaches beyond simple yield aggregation. It attempts to unify disjointed interest rate markets under a non-custodial, permissionless instrument that autonomously routes capital toward the highest risk-adjusted returns available on-chain. In doing so, it aims to reposition sfrxUSD as the benchmark for stablecoin savings—an on-chain equivalent of a decentralized prime money market fund.
As a yield-bearing instrument, sfrxUSD derives its utility from a vault mechanism that mints tokens against deposited frxUSD. The conversion rate between the two rises over time as the underlying strategies harvest returns, meaning each sfrxUSD becomes redeemable for an ever-increasing amount of frxUSD. Redemption is permissionless and immediate, with no forced lock-up period.
Liquidity providers seeking passive exposure to optimized stablecoin yields can mint sfrxUSD and simply hold the token. Protocol treasuries and DAOs may park capital in sfrxUSD to earn competitive returns while retaining the flexibility to exit instantly. Arbitrageurs can exploit any premium or discount between sfrxUSD and frxUSD to capture accruing yield differentials.
Staked Frax USD has a total supply of 33,611,818.57 tokens. Currently, 33,611,816.89 are in circulation. With a market capitalization of $40,057,010, Staked Frax USD ranks #8,371 among all cryptocurrencies.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 08/07/2026 | $1.20 | $1.20 | $1.20 | $1.19 |
| 07/07/2026 | $1.20 | $1.20 | $1.21 | $1.20 |
| 06/07/2026 | $1.20 | $1.20 | $1.20 | $1.20 |
| 05/07/2026 | $1.20 | $1.20 | $1.21 | $1.20 |
| 04/07/2026 | $1.21 | $1.20 | $1.21 | $1.20 |
| 03/07/2026 | $1.20 | $1.21 | $1.21 | $1.20 |
| 02/07/2026 | $1.20 | $1.20 | $1.21 | $1.20 |
| 01/07/2026 | $1.20 | $1.20 | $1.21 | $1.20 |
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