Frax Ether

frxETH DeFiWrapped

Frax Ether is the Frax ecosystem's ether-denominated token, minted 1:1 against ETH deposited with the protocol. frxETH itself carries no staking yield — that goes to holders of the separate sfrxETH vault — so it behaves as a plain ETH wrapper whose value depends on Frax honouring redemption.

Pegged to ethereum
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