Frax Ether

frxETH is Frax Finance’s liquid ETH staking derivative. The two-token design splits frxETH (the principal-pegged token) from sfrxETH (the staked, yield-accruing variant), letting users decide whether to hold non-yielding pegged frxETH or stake into sfrxETH for the yield leg.

The LST is integrated tightly with the broader Frax ecosystem — FRAX, FXS, the Fraxtal L2 — and uses Frax’s deep Curve liquidity to maintain peg.