Frax USD (FRXUSD): D-Score 25/100 — Centralized Leaning BlockIndex D-Score: 25/100 (Centralized Leaning). Frax USD (FRXUSD) is a Layer 2 cryptocurrency using Other consensus. Frax USD (FRXUSD): Governance-backed, fiat-redeemable ERC-20 stablecoin with enshrined custodians and on-chain redeemability. Source: https://blockindex.ai/coin/frxusd · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 25: Node distribution: 0: Initial distribution: 0: Governance: 20: Age and history: 5: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: Other (N/A) - Launch: Other - Founder: Sam Kazemian - VC funded: No - Max supply: N/A - Circulating: 116,350,765 Market data (as of 2026-06-19) - Price: $1 - Market cap: $116.3M - 24h volume: $2.57M - 24h change: +0.02% · 7d change: -0.02% About Frax USD (FRXUSD) is a fiat-redeemable, fully-collateralized stablecoin issued by the Frax Finance Protocol. The token is presented in the provided sources as a governance-backed instrument that combines on-chain minting mechanics with a governance-controlled set of "enshrined custodians" — external, real-world entities that are authorized via governance proposals to mint and redeem frxUSD 1:1 against cash-equivalent reserves. The emphasis in the documentation is on redeemability and governance oversight: enshrined custodians are added and assigned minting caps through governance, and redemptions occur from frxUSDCustodian contracts so long as collateral remains in those contracts. The supplied materials repeatedly underline that redeemability depends on custodial reserves and that there is no guarantee a given custodian will always be able to satisfy redemptions if its reserves are exhausted. Technically, frxUSD is an ERC-20 token on Ethereum, indicated by the presence of an on-chain contract (snippet 0xCAcd...586E29) and aggregator pages that list the token among Ethereum-based assets. As a token, FRXUSD has no native consensus algorithm, block reward, or chain-level metrics — network-level statistics such as block time, total blocks, or TPS are therefore not applicable to the asset itself. The protocol design described in the sources centers on smart contracts (including frxUSDCustodian contracts) and governance flows rather than protocol-level consensus changes. The documentation excerpts emphasize the custody model and the governance mechanisms that control which custodians can mint/burn and the cap assigned to each custodian. From an economic and market perspective the supplied snapshots show typical stablecoin metrics: circulating supply and total supply are reported identically in the sources (total/circulating supply ≈ 109.12M FRXUSD), and market capitalization aligns with that supply (reported market cap ≈ $109.01M). Price data captured in the scrape shows a live price near par ($0.998916) and recorded price extremes in aggregator snapshots (all-time high $1.26 on 2025-05-09 and all-time low $0.9795 on 2025-12-02). The documentation frames frxUSD's monetary policy as redeemability: tokens are redeemable 1:1 via enshrined custodians and minting is constrained by governance-set caps on custodians rather than by a preprogrammed issuance schedule or inflationary block rewards. Governance and operational control are recurring themes: the token is managed within the Frax governance framework where proposals can add custodians and set minting caps. The scraped DScore-related notes infer on-chain governance (dao=true) based on explicit wording in the sources about adding enshrined custodians through governance. Other foundational items — such as a formal founding date, founder/team names, legal incorporation details, a whitepaper, or a public GitHub repository — were not present in the provided materials. Likewise, there is no explicit statement about VC funding, premine percentages, dedicated dev-funds, or custodial enforcement actions in the supplied texts. The project is indexed by major market aggregators (CoinMarketCap, CoinGecko, CryptoCompare, Messari) and is listed on several exchanges and DEX pools (verified listings include Kraken, Bybit, Bitget, and Curve), giving it visibility in both CEX and DeFi channels. Links - Website: http://fraxusd.com/ - Whitepaper: N/A - GitHub: N/A --- About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore