SFRXUSD/USD price feed
sfrxUSD is the savings arm of the Frax dollar family. A savings wrapper's natural market is its own base asset, so its dollar price tends to travel down the family tree, one measured market at a time, until plain dollars come out the other end.
Aggregate on-chain rate: hourly view of the last 4 weeks. The API itself updates block by block. Request API access
Book composition · auto-observed
At the moment this pair prices from one active pool, which the aggregate reflects directly.
Down the family tree
The chain runs like this: wherever sfrxUSD trades against its base, that cross resolves through frxUSD's own dollar level, assembled on its page from the neighbors that quote it; those neighbors resolve to plain dollars in turn. Every link is a live market with a published composition.
A chain is as strong as its weakest link, which is why every link here is inspectable: the first hop is the composition below, each later hop has its own page. Nothing in the route is a lookup taken on faith.
For the reader that means one practical thing: a question about this number decomposes. Does the wrapper trade rich against its base? Composition below. Is the base holding its dollar? Next page over. Family accounting, laid out in public.
Seen from both sides
The market itself has been serious for a savings wrapper: eight-figure inventory, six-figure walls near the mid, seven-figure weekly flow at past readings. That is a healthy secondary market, not a formality.
Readers of the frxUSD page have met this market already, from the other side: the wrapper's cross has appeared among the family legs in the flagship's own book. Same trade, two vantage points, one family.
What this page adds is the family's third measured checkpoint: predecessor, flagship, wrapper, all read the same way.
Who runs on this rate
Treasuries holding the Frax family
Three generations, three feeds: positions in any mix of FRAX, frxUSD or sfrxUSD mark against the same methodology.
Risk desks watching wrapper-to-base
The wrapper's ratio to its base is read from live venues; drift in it shows up at the market level, not by inference.
Credit desks with sfrxUSD collateral
A savings wrapper as collateral needs its traded level, chain of resolution included; both halves are published.
Where the SFRXUSD market lives
Active SFRXUSD/USD pools per chain, as observed by the feed on 2026-10-27.
SFRXUSD in the catalog
2 pairs, each computed from its own pools with the same methodology:
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