Frax Finance reported zero critical findings in an assessment of Frax USD (frxUSD) contracts, which focused on custody controls, time-locked minting and bridge routes for the dollar-linked stablecoin.
Frax Finance identified @zellic_io as the assessor. The assessment covered custody arrangements, minting delays controlled by time locks, and cross-chain routing.
A dashboard introduced by Frax Finance and DefiLlama on Nov. 2 presents frxUSD reserve data from on-chain and off-chain sources. Earlier EconoTimes coverage reported 103% reserve backing for frxUSD. The tracker’s dashboard lists 10 reserve positions across eight accounts, according to that coverage.
The reported reserve level put collateral 3% above the stablecoin’s value. Frax USD is intended to maintain a one-to-one value with the U.S. dollar.
