What is sfrxETH?
sfrxETH is the yield-bearing version of frxETH, accumulating all ETH staking rewards from the Frax validator system. By staking frxETH to receive sfrxETH, users earn staking yields while maintaining liquid exposure to staked ETH.
Key Statistics
| Metric | Value |
|---|---|
| . . . . | . . . - |
| Market Cap | $350M+ |
| Base APY | ~4% |
| Underlying | frxETH |
| Primary Chain | Ethereum |
How sfrxETH Works
Yield Accumulation: sfrxETH increases in value relative to frxETH as staking rewards accrue. ERC-4626 Vault: sfrxETH uses the standard vault interface for DeFi composability. No Rebasing: Value appreciation happens through exchange rate, not token balance.Yield Opportunities with sfrxETH
Base Staking Yield: Hold sfrxETH to earn ~4% APY from ETH staking. Pendle Markets: Trade sfrxETH on Pendle for fixed yields or leveraged exposure. Lending Collateral: Use sfrxETH as collateral while earning staking yield. LP Strategies: Provide sfrxETH liquidity in DEX pools.Risk Considerations
All frxETH Risks: sfrxETH inherits frxETH smart contract and validator risks. Exchange Rate Risk: sfrxETH/frxETH rate depends on validator performance.Frequently Asked Questions
What APY does sfrxETH earn?sfrxETH earns approximately 4% APY from ETH staking rewards.
How do I get sfrxETH?Stake frxETH on Frax to receive sfrxETH, or buy sfrxETH on DEXs.