# Frax

*frxUSD stablecoin infrastructure; an early TIP-20 adopter.*

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.

## At a glance

- **Type:** stablecoin
- **Category:** stablecoins
- **Status:** active
- **Website:** https://frax.finance

## Key facts

- **Peg:** USD-pegged stablecoin held at 1:1 to the U.S. dollar _(confidence 95%)_
- **Backing:** Fully backed by cash-equivalents and tokenized U.S. Treasury reserves _(confidence 91%)_
- **Role on Tempo:** Used for stablecoin-denominated gas (fee) payments and reward distribution _(confidence 94%)_
- **Circulating supply / market cap:** Approximately 130 million tokens circulating with a market cap of roughly $128–133 million (mid-2026) _(confidence 60%)_

## Related entities

- [Tempo](https://tempo.dataos.so/entity/tempo) — integrates

## Sources

1. [https://docs.frax.com/frxusd](https://docs.frax.com/frxusd)
2. [https://docs.frax.com/protocol/crosschain/tempo](https://docs.frax.com/protocol/crosschain/tempo)
3. [https://www.coingecko.com/en/coins/frax-usd](https://www.coingecko.com/en/coins/frax-usd)

---

Last reviewed: 7 Jun 2025  
Canonical: https://tempo.dataos.so/entity/frax  
Source: tempowiki (https://tempo.dataos.so) — an independent, sourced reference for the Tempo ecosystem. Not affiliated with Tempo, Stripe, or Paradigm.