frxETH

Frax Finance is a decentralized stablecoin protocol including a liquid staking component. In Frax Finance, you can stake any desired amount of ETH and receive staking rewards, instead of staking all 32 ETH or maintaining a validator node through dedicated hardware equipment.

After you deposit ETH into Frax, it’ll issue you frxETH as proof of your investment. FrxETH does not generate any rewards.

ETH rewards are distributed to validators for validating transactions on the Ethereum blockchain, as well as the rewards at the execution level.

After depositing tokens, frxETH will be minted and staked in the liquidity pool. For every frxETH staked, you can receive an equal amount of sfrxETH.

sfrxETH is a liquid token that represents your staked frxETH in Frax Finance. You can hold sfrxETH to earn staking rewards. When staking rewards are added, the value of frxETH will increase with respect to the value of sfrxETH.

You can go to Trade ⇾ Swap to swap your tokens for frxETH.

Due to the configuration of OKX Wallet rules, you may not be able to see the sfrxETH. Instead, you can go to “frxETH earn frxETH” via “Wallet > Earn > Stake” to see the details of your sfrxETH. Or, if you still want to see the sfrxETH in your wallet, you can manually configure it via “Wallet > Crypto > Manage crypto”.