Frax Ether

FRXETH

Liquid Staking, derivative weights

A liquid staking token for Ethereum.

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.24–

Transparencywithheld×0.20–

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Innovationwithheld×0.12–

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Tokenomicswithheld×0.24–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Frax Ether

Analysis of 3 Feb 2026

Frax Ether (frxETH) is a liquid staking derivative utilizing a dual-token model where frxETH maintains a 1:1 ETH peg (defended at 0.99-1.01 range, currently trading at 0.9978 ETH) while sfrxETH (Staked Frax Ether) accrues validator rewards through an ERC-4626 vault. As of February 2026, the protocol distributes 90% of staking income to sfrxETH holders, 8% as protocol fees, and 2% to an insurance fund, delivering base ETH staking yields of 2-3% (with MEV-Boost around 5.69%).

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The January 2025 frxETH V2 upgrade introduced permissionless validators through a lending market mechanism, allowing operators to borrow validators with collateral (minimum 8 ETH), fully decentralizing the system. The protocol now serves as the gas token for Fraxtal L2 and has expanded to BNB Chain, with the January 2026 Binance integration of the Fraxtal network marking a significant milestone.

Current price stands at $4,664, down 6.72% from the $5,000 ATH reached in August 2025.

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