Frax
Decentralized exchange — earn fees by helping other people swap tokens.
100% on Ethereum · also on 0 other chains
Chains
1
Live yield options
23
Best reward rate
3.9%
Custody
You hold the keys
Where it runs
Available on 1 chains
Earn here · live yield options
Yields available on Frax
23 live options — yields range 0.0% to 3.9% per year, with a median of 1.47%.
-
01
frax - FPI-FRAX Ethereum
FPI · FRAX
Reward
—
→Pool size
$98.2Million
-
02
frax - SFRAX Ethereum
SFRAX
Reward
1.25%
→Pool size
$65.3Million
-
03
frax - SFRXUSD Ethereum
SFRXUSD
Reward
3.9%
→Pool size
$30.8Million
-
04
frax - FRAX-FXS Fraxtal
FRAX · FXS
Reward
1.69%
→Pool size
$1.73Million
-
05
frax - FXS-FRAX Ethereum
FXS · FRAX
Reward
1.49%
→Pool size
$1.67Million
-
06
frax - FRAX-WETH Ethereum
FRAX · WETH
Reward
2.96%
→Pool size
$648Thousand
All 23 yield options on Frax Expand →
| Option | Chain | Reward | Pool size |
|---|---|---|---|
| frax - FPI-FRAX | Ethereum | 0.0% | $98.2Million |
| frax - SFRAX | Ethereum | 1.25% | $65.3Million |
| frax - SFRXUSD | Ethereum | 3.9% | $30.8Million |
| frax - FRAX-FXS | Fraxtal | 1.69% | $1.73Million |
| frax - FXS-FRAX | Ethereum | 1.49% | $1.67Million |
| frax - FRAX-WETH | Ethereum | 2.96% | $648Thousand |
| frax - IQ-FRAX | Fraxtal | 0.0% | $410Thousand |
| frax - SYN-FRAX | Ethereum | 0.0% | $230Thousand |
| frax - FXS-FRAX | Ethereum | 0.0% | $170Thousand |
| frax - WMATIC-FRAX | Polygon | 1.47% | $125Thousand |
| frax - FRAX-WETH | OP Mainnet | 1.17% | $89.4Thousand |
| frax - FRAX-SFRXETH | Fraxtal | 0.0% | $82.5Thousand |
| frax - FRAX-FPI | Fraxtal | 0.0% | $78.5Thousand |
| frax - BAMM-FRAX | Fraxtal | 0.0% | $74.8Thousand |
| frax - FXS-FRXETH | Ethereum | 0.34% | $55.8Thousand |
| frax - PITCHFXS-FRAX | Ethereum | 2.57% | $48.1Thousand |
| frax - FRAX-FPIS | Ethereum | 0.27% | $44.1Thousand |
| frax - VST-FRAX | Arbitrum | 0.0% | $35.6Thousand |
| frax - FXS-FPI | Ethereum | 0.37% | $31.9Thousand |
| frax - FRAX-WETH | Arbitrum | 0.0% | $25.6Thousand |
| frax - FRAX-FPIS | Ethereum | 0.0% | $18.7Thousand |
| frax - FRAX-WETH | Ethereum | 0.0% | $11.5Thousand |
| frax - FXS-FRAX | Fantom | 0.0% | $10.3Thousand |
How it works
Using Frax in three steps
-
1
Pair two tokens
Pick two tokens (e.g. ETH + USDC), deposit both in equal value into the trading pool.
-
2
Earn a share of fees
Every time someone swaps through this pair, you earn a tiny cut of the fee. The more people trade, the more you earn.
-
3
Watch out for IL
If one token's price moves a lot relative to the other, you'd have been better off just holding — the gap is called 'impermanent loss'.
Read up
About Frax
Description provided by the protocol team. Always verify directly before depositing funds.
Tokens earning here
Top tokens earning yield through Frax
Same family
Other Frax Finance products
These products share the brand but each is distinct code with its own deposits, audits, and risks. Pick the one that matches what you want to do.
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Frequently asked
What people ask about Frax
What is Frax?
+
Frax is an on-chain app. Decentralized exchange — earn fees by helping other people swap tokens.
Is using Frax safe?
+
Frax has 2 public audits on file. Audits help — they don't eliminate risk. Always check what tokens you're depositing and never put in more than you can afford to lose.
How much can I earn?
+
Right now yields on Frax run 0.0%–3.9% per year, depending on which pool you pick and which chain you use. Rates change with demand.
Which chains does it run on?
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Frax runs on 1 chains, including Ethereum. Each chain has its own fees and speeds — pick the one you already use.
Figures are reference values aggregated from public sources and refresh hourly. Always confirm directly before depositing funds.
See also
Terms used on this page
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Smart Contract
Code on a blockchain that runs automatically when called. DeFi protocols are smart contracts — bugs in the code can lose user funds.
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Audit
An independent security review of a smart contract. More audits and longer track record reduce — but never eliminate — code risk.
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Impermanent Loss
A loss LP providers experience when the two pool tokens diverge in price. The loss only crystallises if you withdraw at that ratio.
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Oracle
An on-chain feed of off-chain data — usually prices. Lending and CDP protocols rely on oracles to liquidate positions correctly.
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TVL (Total Value Locked)
The total dollar value of assets currently deposited in a DeFi protocol. A rough proxy for adoption and trust.