Supported assets
Two different questions hide inside "what assets does Frax support?" One is which tokens the protocol issues. The other is what collateral stands behind the stablecoins and what assets you can lend or borrow. This page covers both, and flags where the answer is a moving target.
Tokens the protocol issues
These are the assets native to Frax. The token map explains the roles in more depth; here they are as a reference list.
| Asset | Category | Note |
|---|---|---|
| frxUSD (rebranded FRAX) | USD stablecoin | Flagship dollar stablecoin; full collateral backing. |
| FPI | Inflation-linked stablecoin | Pegged to a CPI basket, not a flat dollar. |
| frxETH | ETH-tracking token | Tracks ETH 1:1; base of the liquid-staking system. |
| sfrxETH | Staked ETH vault | Accrues validator rewards; rises against frxETH. |
| sFRAX | Savings vault | Pays part of protocol yield to stablecoin depositors. |
| FRAX (rebranded FXS) | Governance / gas | Voting power, value accrual, and Fraxtal gas/staking. |
| FXB | Bond | Zero-coupon, bond-like tokens with a maturity date. |
What backs the stablecoins
Since the move to full collateralization, the dollar stablecoin is meant to be backed one-for-one by reserves. The precise composition of those reserves — and how much sits in each type of collateral — is exactly the kind of figure that changes over time. We will not quote a stale snapshot here. The current backing is a live figure; read it in the official documentation or on the protocol's public facts dashboard.
What you can lend and borrow
On Fraxlend, the set of usable assets is not fixed either. Because the market is built from isolated pairs, new pairs can be added and existing ones adjusted through governance. Each pair defines its own collateral asset, borrowable asset, loan-to-value limit and oracle. That means the right place to check what is currently supported is the market itself, not a list that could be out of date the day after it is written.
Why we do not publish a fixed asset table for collateral
Collateral types, reserve composition and lending pairs change through governance and market conditions. Publishing a frozen list would be the kind of confidently-wrong information that erodes trust. For anything that changes, we point you to a live source instead. See how it works for the mechanics behind the backing.
Where these assets live
Frax assets exist across Ethereum and the Fraxtal network, and can move between chains through Fraxferry and Fraxtal's native bridge. If you plan to move assets across chains, read the cross-chain notes on the risks page first — bridging is one of the higher-risk actions in DeFi. The ecosystem page maps out where everything runs.