The social engine of @fraxfinance.
Fraxtal
Joined September 2025
- Tweets1.8K
- Following314
- Followers615
- Likes11.4K
Pinned Tweet
“We built FraxNet as the first runtime neobank. It’s essentially a neobank with an app store.”
@samkazemian (CEO of @fraxfinance) keynote on “The Great Unbundling of Finance” at @token2049.
Key moments:
01:05 From Crypto Islands to Merging Financial Systems
02:03 Why Every Neobank Sounds the Same
02:52 What a Real Network Effect Actually Is
04:10 FraxNet: A Neobank With an App Store
06:59 One Identity, Every Financial App
09:20 What If Marina Bay Sands Accepted Digital Assets
11:36 The Most AI-Friendly Finance Platform in Web3, by Accident
Frax Force retweeted
Add liquidity and earn up to 85.99% with frxUSD / sVUSD on @CurveFinance, with boosted staking via @StakeDAOHQ.
Get rewards in two steps:
Add liquidity on @CurveFinance: curve.finance/dex/ethereum/p…
Stake your LP on Stake DAO: app.stakedao.org/strategy?pr…
Not available for US and EU users.
Yields displayed are current, based on TVL in pools.
Frax Force retweeted
We’re aware of the reported op-reth incident.
Frax assets and smart contracts are unaffected and operating normally. All user and protocol funds remain safe.
LayerZero has temporarily paused certain cross-chain routes as a precaution and should resume soon.
Frax Force retweeted
FX will be on-chain.
1/ Brazil’s election was decided Sunday, Oct 25. Traditional FX markets were closed 🇧🇷
Lula won a fourth term, and the real plunged 8% when markets reopened.
But traders on @Featherlend on @0xPolygon had already been trading the move overnight.
Here’s how frxUSD powered it🧵
Frax Force retweeted
Not every election trade worked.
Right after the result, a second trader borrowed more BRZ on @Featherlend to buy more TESOURO, tokenized Brazilian government bonds.
When markets opened, bond prices fell. At 10:43 AM, the position was liquidated.
Lenders still got every BRZ back. The loan sat in an isolated @Morpho market with an 86% limit, so it was closed while the TESOURO still covered the debt. $0 bad debt.
Better FX on battle-tested rails, built to keep lenders whole even when a trade goes wrong.
with TESOURO from @etherfuse, and BRZ from @transferogroup.
Brazil's election ended Sunday night. Banks stayed closed until Monday. FX with $frxUSD on @0xPolygon stayed open.
At 2:20 AM, one trader shorted the real: ethereum:0xcf62f905562626cfcdd2261162a51fd02fc9c5b6 as collateral on @Featherlend, 300K BRZ borrowed and sold for frxUSD on @CurveFinance.
Once markets opened and the real fell, the BRZ was bought back cheaper and the loan repaid.
~$900 in 12 hours, while the collateral kept earning ~5% APY.
This is what better FX looks like to us: open when TradFi rails aren't, with a dollar that keeps earning.
Built on @Morpho, with BRZ from @transferogroup and liquidity from @DFB_DeFi.
1/ Brazil’s election was decided Sunday, Oct 25. Traditional FX markets were closed 🇧🇷
Lula won a fourth term, and the real plunged 8% when markets reopened.
But traders on @Featherlend on @0xPolygon had already been trading the move overnight.
Here’s how frxUSD powered it🧵
Not every election trade worked.
Right after the result, a second trader borrowed more BRZ on @Featherlend to buy more TESOURO, tokenized Brazilian government bonds.
When markets opened, bond prices fell. At 10:43 AM, the position was liquidated.
Lenders still got every BRZ back. The loan sat in an isolated @Morpho market with an 86% limit, so it was closed while the TESOURO still covered the debt. $0 bad debt.
Better FX on battle-tested rails, built to keep lenders whole even when a trade goes wrong.
with TESOURO from @etherfuse, and BRZ from @transferogroup.
Frax Force retweeted
🗞️ Every $frxUSD in @Featherlend's vault is borrowed. The rate for lenders: 51.9% APY.
Most of the vault's $136.7k is borrowed against BRZ, a Brazilian real stablecoin.
When everything in a @Morpho vault is borrowed, the rate keeps rising. It drops again when loans are repaid or new deposits come in.
6/ Don't want to trade FX? Lend to the traders who do.
Demand for frxUSD is high and the Feather market is 100% utilized. Lenders are earning ~50% APY until utilization eases.
Get started: app.morpho.org/polygon/vault…
Frax Force retweeted
5/ Frax's role?
¤ sfrxUSD: productive collateral on @Featherlend
¤ frxUSD: dollar liquidity through @CurveFinance FX pools on @0xPolygon
The future of FX is onchain. 24/7 markets need trusted, productive dollars.
Elections don't wait for market hours. Neither does DeFi.
Frax Force retweeted
1/ Brazil’s election was decided Sunday, Oct 25. Traditional FX markets were closed 🇧🇷
Lula won a fourth term, and the real plunged 8% when markets reopened.
But traders on @Featherlend on @0xPolygon had already been trading the move overnight.
Here’s how frxUSD powered it🧵
Frax Force retweeted
Add liquidity and earn 24.18% with VUSD / frxUSD on @Uniswap.
Get rewards in two steps:
Add liquidity on @Uniswap: app.uniswap.org/explore/pool…
Claim your rewards on @merkl_xyz: app.merkl.xyz/opportunities/…
Not available for US and EU users.
Yields displayed are current, based on TVL in pools.
Frax Force retweeted
103% collateralized.
frxUSD is the first stablecoin that we're providing real-time reserve verification for. Tracking reserves across 10 positions in 8 accounts.
Frax Force retweeted
USDte minting is live, with frxUSD as a mint asset.
@techdollarhq lends against pre-IPO equity in frontier tech: AI, aerospace, chips, and energy. Every loan settles in USDte.
Mint with frxUSD before initial caps fill and earn points.
Get started: app.techdollar.com/earn/mint
Techdollar's USDte is now live.
Mint directly at: app.techdollar.com/earn/mint
Supply caps will be raised in the coming days.
Frax Force retweeted
🗞️ $frxUSD brings the economic advantages of Treasuries to the digital era
A dollar deposited at a bank mostly funds the bank’s loans, not Treasuries, and the bank decides what you get back: 0.38% on the average U.S. savings account, according to the FDIC.
frxUSD works differently. About 97% of its reserves sit in tokenized short-term Treasury funds, verified by @DefiLlama. Three-month T-bills currently yield about 4.1%, and through FraxNet, verified users earn a share of that Treasury yield, currently 3.53% APR per dollar.
While it can work & move 24/7 onchain and redeemed 1:1 at any time.
76 days until GENIUS takes effect. Here’s how we see it, and why we think @FraxFinance is one of the most prepared issuers for what’s coming.
First, a reality check. The OCC finalized its rules on Oct 21, but applications haven’t opened yet. No stablecoin is officially “GENIUS-compliant” today, whatever the marketing says. What a stablecoin can do right now is show its work.
Back in March 2025, while GENIUS was still a draft, @samkazemian was on the Hill reading it cover to cover and working with @BlockchainAssn and @DanSpuller on revisions. Some of those edits, he says, made it into the bill’s wording. $frxUSD was built with this exact future in mind. Plenty of issuers are only now reading the rulebook. Sam helped shape it before it was one.
So here’s the work.
frxUSD has a uniquely clean reserve structure. It’s 103.44% backed, almost entirely by tokenized Treasury funds (WisdomTree’s WTGXX, BlackRock’s BUIDL, USTB) plus cash at Erebor.
@DefiLlama independently verifies the full reserves live, onchain and offchain. GENIUS asks for a monthly report. frxUSD’s reserves can be checked any day.
The exits are open. Redeem 1:1 onchain any time, or cash out to a U.S. bank account through FraxNet.
And the compliance plumbing is already built. FraxNet’s identity layer means you verify once and it works across partners, and the frxUSD contract can freeze tokens on a lawful order.
Some requirements only kick in with a license, like the monthly auditor exam and the capital rules. Frax has said it’s applying for a GENIUS license, so the application can go in as soon as the window opens.
Built for GENIUS. Licensed is the next step. Few stablecoins are this ready.
And honestly, we still don’t think most people get what this means once it’s live. From Jan 18, issuing a payment stablecoin in the U.S. takes approval. By July 2028, platforms can only offer approved ones to U.S. users. The ones that make it through become regulated digital dollars that banks, businesses and apps can build on.
Soon your parents will pay with stablecoins. They’ll use the ones that showed their work.
Our take as the Frax Force community, not an official Frax statement. Not a compliance claim, not financial or legal advice.
76 days until GENIUS takes effect. Here’s how we see it, and why we think @FraxFinance is one of the most prepared issuers for what’s coming.
First, a reality check. The OCC finalized its rules on Oct 21, but applications haven’t opened yet. No stablecoin is officially “GENIUS-compliant” today, whatever the marketing says. What a stablecoin can do right now is show its work.
Back in March 2025, while GENIUS was still a draft, @samkazemian was on the Hill reading it cover to cover and working with @BlockchainAssn and @DanSpuller on revisions. Some of those edits, he says, made it into the bill’s wording. $frxUSD was built with this exact future in mind. Plenty of issuers are only now reading the rulebook. Sam helped shape it before it was one.
So here’s the work.
frxUSD has a uniquely clean reserve structure. It’s 103.44% backed, almost entirely by tokenized Treasury funds (WisdomTree’s WTGXX, BlackRock’s BUIDL, USTB) plus cash at Erebor.
@DefiLlama independently verifies the full reserves live, onchain and offchain. GENIUS asks for a monthly report. frxUSD’s reserves can be checked any day.
The exits are open. Redeem 1:1 onchain any time, or cash out to a U.S. bank account through FraxNet.
And the compliance plumbing is already built. FraxNet’s identity layer means you verify once and it works across partners, and the frxUSD contract can freeze tokens on a lawful order.
Some requirements only kick in with a license, like the monthly auditor exam and the capital rules. Frax has said it’s applying for a GENIUS license, so the application can go in as soon as the window opens.
Built for GENIUS. Licensed is the next step. Few stablecoins are this ready.
And honestly, we still don’t think most people get what this means once it’s live. From Jan 18, issuing a payment stablecoin in the U.S. takes approval. By July 2028, platforms can only offer approved ones to U.S. users. The ones that make it through become regulated digital dollars that banks, businesses and apps can build on.
Soon your parents will pay with stablecoins. They’ll use the ones that showed their work.
Our take as the Frax Force community, not an official Frax statement. Not a compliance claim, not financial or legal advice.
For the receipts: @samkazemian’s thread from March 2025:
“There are weeks where decades happen.”
teapawt.net/samkazemian/status/190…
Speaking of stablecoins, that's where I had most of my attention reading multiple drafts of the GENIUS Act cover-to-cover & working with @DanSpuller & @BlockchainAssn to suggest feedback/revisions some of which is in the final wording of the current bill.
Frax Force retweeted
DeFiLlama represents the best of crypto: smart people working hard to make things more transparent and accessible.
It’s fitting that the first verified stablecoin on their platform is @Frax frxUSD.
Pleasure working with their team, especially @patfscott.
More to come together.
DefiLlama set the standard for tracking TVL and other onchain metrics in DeFi.
Today, we're the next step: verifying the backing of onchain assets and vaults. We're proud to launch our first verification page alongside @fraxfinance.
On Frax's DefiLlama page, you can see real-time tracking of frxUSD's backing, including offchain assets, which we've independently verified.
Stay tuned for more verified onchain products in the coming days and weeks.
Frax Force retweeted
frxUSD is now verified by @DefiLlama.
DeFi’s most trusted data platform has independently verified the backing of Frax’s institutional-grade stablecoin.
Two OG DeFi teams collaborating, with more to come.
More updates as we apply for a GENIUS license.
defillama.com/verified/frxus…
Frax Force retweeted
Big incentives for avUSD LPs on @CurveFinance this epoch.
Current yields:
→ frxUSD/avUSD: 25.40%
→ BOLD/avUSD: 22.53%
→ alUSD/avUSD: 76.68%