- Data completeness
- 50%
- Confidence
- 85%
- Sources
- 3
- Last reviewed
- 7 Jun 2025
The take
What to know
frxUSD is the Frax Finance Protocol's USD-pegged stablecoin, held at 1:1 to the dollar and fully backed by cash-equivalents and tokenized U.S. Treasury reserves. On the Tempo payments blockchain it is implemented as a native TIP-20 token used for stablecoin-denominated gas (fee) payments and reward distribution.
Best for
- +Paying gas/transaction fees on Tempo with a USD stablecoin
- +Reward distribution on Tempo
- +Holding a fully-reserved, USD-pegged stablecoin
Watch out
- Reported circulating supply and market-cap figures are approximate (mid-2026) and change over time
- Backing relies on tokenized U.S. Treasury and cash-equivalent reserves rather than direct dollar deposits
The record
Key facts
- Peg
- USD-pegged stablecoin held at 1:1 to the U.S. dollar· 95%
- Backing
- Fully backed by cash-equivalents and tokenized U.S. Treasury reserves· 91%
- Role on Tempo
- Used for stablecoin-denominated gas (fee) payments and reward distribution· 94%
- Circulating supply / market cap
- Approximately 130 million tokens circulating with a market cap of roughly $128–133 million (mid-2026)· 60%
The timeline
History
2026-06
frxUSD implements Tempo's TIP-20 standard
frxUSD is documented as a native TIP-20 token on the Tempo blockchain, enabling stablecoin-denominated fee payments and reward distribution.
Questions
FAQ
- Who issues frxUSD?
- frxUSD is issued by the Frax Finance Protocol.
- Can frxUSD be used to pay gas fees on Tempo?
- Yes. On Tempo, frxUSD is a native TIP-20 token used for stablecoin-denominated gas (fee) payments and reward distribution.
- What backs frxUSD's peg?
- frxUSD is held at 1:1 to the U.S. dollar and is fully backed by cash-equivalents and tokenized U.S. Treasury reserves.
- What token standard does frxUSD use on Tempo?
- It is implemented as a native TIP-20 token, Tempo's stablecoin token standard.
The graph