Dual Token Stablecoin · Alternatives
The best Frax Finance alternatives in 2026
Frax Finance is a DeFi protocol issuing the FRAX stablecoin and FXS governance token, for users who want a partly collateral-backed dollar. If Frax Finance is not the right fit, these 6 reviewed Dual Token Stablecoin options are the closest matches, ranked by DappsAtlas score. Read our full Frax Finance review
At a glance
Frax Finance vs the alternatives
| dApp | Score | TVL | Chains |
|---|---|---|---|
| Score 6.0 out of 10 | — | — | |
| Score 7.0 out of 10 | $93.6M | 1 | |
| Score 7.0 out of 10 | $19.6M | 1 | |
| Score 7.0 out of 10 | $34.5M | 1 | |
| Score 6.7 out of 10 | $18.6M | 2 | |
| Score 5.8 out of 10 | $4.56M | 1 | |
| Score 5.5 out of 10 | — | 1 |
Ranked
Top Frax Finance alternatives
- 1
fx Protocol
Dual Token Stablecoin · Ethereum
f(x) Protocol is an Ethereum DeFi platform that mints the fxUSD stablecoin against stETH and WBTC and uses it to offer fixed-leverage ETH and BTC positions with a rebalancing mechanism in place of standard liquidation. The main trade-off is a more complex design with its own tail risks.
ScoreScore 7.0 out of 10TVL $93.6M−10.7% - 2
MoneyOnChain
Dual Token Stablecoin · Rsk
Money On Chain is a Bitcoin-collateralized DeFi protocol on Rootstock, issuing the DOC stablecoin, the BPRO leveraged BTC token and the MOC governance token. Its main appeal is a bank-free dollar peg, and its main caveat is that stability depends on BPRO holders absorbing volatility.
ScoreScore 7.0 out of 10TVL $19.6M−3.3% - 3
Hylo Protocol
Dual Token Stablecoin · Solana
Hylo is a Solana protocol that splits staked SOL into hyUSD, a stable dollar asset, and xSOL, a leveraged SOL token with no liquidations. It suits Solana users comfortable with SOL-backed stablecoins, but both tokens carry SOL-linked risk.
ScoreScore 7.0 out of 10TVL $34.5M−4.8% - 4
RIF ON CHAIN
Dual Token Stablecoin · Rsk, Arbitrum
RIF On Chain is a decentralised stablecoin protocol on Rootstock, the Bitcoin sidechain, that lets users mint the USDRIF stablecoin and the leveraged RIF PRO token. It suits users already holding RIF, but they should understand the collateral and leverage risks first.
ScoreScore 6.7 out of 10TVL $18.6M−7.1% - 5
Djed Stablecoin
Dual Token Stablecoin · Cardano
Djed is a Cardano stablecoin protocol that backs DJED with ADA and uses SHEN as a reserve coin. Its overcollateralized design is a useful safeguard, but it does not remove price, reserve, or smart-contract risk.
ScoreScore 5.8 out of 10TVL $4.56M−4.7% - 6
Speraxdao
Dual Token Stablecoin · Arbitrum
SperaxDAO is a DeFi protocol on Arbitrum that issues the USDs stablecoin and runs Demeter, a liquidity farming product. Its appeal is yield on stable assets, and its main caveat is that key safety and fee details are not published in the sources reviewed.
ScoreScore 5.5 out of 10TVL —