Frax

Frax Finance develops a comprehensive ecosystem for decentralized finance, centered on its suite of stablecoins and the Fraxtal blockchain. The company's core offering includes frxUSD, a digital dollar fully backed by U.S. Treasury assets, along with FPI, a stablecoin pegged to a consumer price index, and frxETH, a liquid staking derivative. These products operate on the Fraxtal blockchain, a modular EVM network engineered for scalability and low transaction costs, providing the foundational infrastructure for a borderless financial system.

The company was founded in 2019 by Sam Kazemian, alongside co-founders Travis Moore, Jason Huan, and Michael Gruen. Kazemian, recognized as the architect of its fractional-algorithmic model, led Frax based on the insight that digital currency could achieve stability, decentralization, and capital efficiency simultaneously, a challenge previously known as the stablecoin trilemma. This innovative approach sought to create a more robust and scalable form of digital money.

Frax's products serve a broad user base within the decentralized finance community, including developers building applications on the Fraxtal blockchain and participants seeking stable, yield-bearing digital assets. The company’s vision is to establish the world’s most scalable stablecoin infrastructure, enabling money to move freely across borders and fostering an open financial system accessible to anyone, anywhere.