Sign in

Staked Frax Ether SFRXETH Price

$3,634.0

-2.99%

$3,634.0

24h Range

$3,897.6

Market Cap

$346,635,564.0

Fully Diluted Valuation

$346,615,278.1

24 Hour Trading Vol

$327,860.0

Circulating Supply

95,380.4

Total Supply

95,380.4

Max Supply

Info

SFRXETH Price Statistics

Staked Frax Ether Price

$3,634.0

24h Range

$3,634.0 - $3,897.6

Percent Change 1h

-1.09%

Percent Change 24h

-2.99%

Percent Change 7d

1.48%

All-time high

$7,545.1

All-time low

$1,147.6

Simple View
Trading View

1D

7D

1M

1Y

Loading...
Simple View
Trading View

About Staked Frax Ether

What is Staked Frax Ether (SFRXETH)?

Staked Frax Ether (SFRXETH) is a liquid staking derivative that represents staked Ether (ETH) within the Frax Finance ecosystem. It allows users to stake their ETH and receive SFRXETH in return, which can be used across various decentralized finance (DeFi) applications while still earning staking rewards. SFRXETH is pegged to the value of staked ETH, providing liquidity and flexibility to stakers who want to participate in the Ethereum 2.0 proof-of-stake consensus mechanism without sacrificing access to their assets.

Who are the Founders of Staked Frax Ether?

The Frax Finance protocol, including Staked Frax Ether, was founded by Sam Kazemian, a prominent figure in the DeFi space. He is known for his innovative approaches to stablecoins and decentralized finance. The development team behind Frax Finance consists of experienced professionals from various backgrounds, including finance, technology, and blockchain, who are dedicated to creating scalable and sustainable DeFi solutions.

How does Staked Frax Ether Work?

Staked Frax Ether operates on the principles of liquid staking. When users stake their ETH through the Frax platform, they receive SFRXETH tokens in return. These tokens represent their staked assets and the associated staking rewards. The process involves several key steps:

  • Staking ETH: Users deposit their ETH into the Frax staking contract.
  • Receiving SFRXETH: In exchange for staking ETH, users receive SFRXETH tokens, which can be freely traded or used in other DeFi protocols.
  • Earning Rewards: The staked ETH earns rewards from the Ethereum network, which are then reflected in the value of SFRXETH.
  • Redemption: Users can redeem their SFRXETH for ETH at any time, subject to the protocol’s terms, allowing for liquidity while still earning staking rewards.

Top Use Cases of Staked Frax Ether

SFRXETH has several noteworthy use cases within the DeFi ecosystem:

  • Liquidity Provision: Users can provide liquidity to decentralized exchanges (DEXs) using SFRXETH, earning trading fees and additional yield.
  • Yield Farming: SFRXETH can be utilized in yield farming strategies, enhancing returns through various DeFi protocols.
  • Collateral: SFRXETH can be used as collateral for loans in lending platforms, allowing users to borrow against their staked assets.
  • Staking Rewards: Users can benefit from staking rewards while still having access to their staked assets through SFRXETH.

How to Keep your Staked Frax Ether Safe?

To ensure the safety of your Staked Frax Ether (SFRXETH), consider the following best practices:

  • Use Trusted Wallets: Store your SFRXETH in reputable wallets, such as hardware wallets or established software wallets with strong security features.
  • Enable Two-Factor Authentication (2FA): Always enable 2FA on your accounts to add an extra layer of security against unauthorized access.
  • Be Cautious of Phishing: Stay vigilant against phishing attempts and only interact with official platforms and links.
  • Keep Software Updated: Regularly update your wallet and software to protect against vulnerabilities.
  • Use Decentralized Exchanges Carefully: When trading SFRXETH, use reputable decentralized exchanges and double-check contract addresses to avoid scams.

How to Invest in Staked Frax Ether (SFRXETH)?

Investing in Staked Frax Ether (SFRXETH) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Staked Frax Ether: Once your account is funded, you can purchase Staked Frax Ether directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Staked Frax Ether (SFRXETH) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Staked Frax Ether using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Staked Frax Ether (SFRXETH) in the Long Term?

Staked Frax Ether (SFRXETH) is currently trading at $3,634.0 and exhibits good potential for future growth. Check the latest Staked Frax Ether (SFRXETH) price prediction.

FAQs

Recent Big Transactions


Staked Frax Ether Info

Info

Staked Frax Ether Insights

Recent Big Transactions


Explore More Crypto Coins

Botsfolio Blogs

Instant Access, No Sign-Up Needed!

Create and Evaluate Portfolios in Minutes

With any investment, your capital is at risk. The value of your portfolio with Botsfolio can go down as well as up and you may get back less than you invest. Past performance is no guarantee of future results. Read our (investment risk disclosure ) for more information. By using this website, you accept our (Privacy Policy) (Terms & Conditions) .

PRODUCTS

BECOME A PARTNER

CONTACT US

Support: jasmine@botsfolio.com

Marketing: marketing@botsfolio.com

KribX Inc, USA

© 2024 © Botsfolio

Privacy Policy Terms and Conditions