DescriptionFrax USD (frxUSD) is a fiat-redeemable, fully-collateralized stablecoin issued by the Frax Finance Protocol
Category:fiat-backed
Minting and RedemptionFrax USD uses a hybrid model that allows for governance-approved enshrined custodians to mint/redeem the stablecoin by holding cash-equivalent reserves while also having onchain mechanisms built by the Frax Finance Protocol
Frax USD (FRXUSD)