FRAX vs HUMA
Frax and Huma, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and FRAX/HUMA spread
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Frax is a dollar-denominated token tracked across 14 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Caution
Huma issues dollar-denominated tokenized real-world assets across 4 chains. Value shown is on-chain assets under management.
Verdict band: Adequate
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 54 | 64 | HUMA |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 55 | Tie |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $91.54M | $0.00 | FRAX |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 48 | Tie |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | −0.767% | 0.000% | HUMA |
| Worst recorded depegHow badly the token has broken before, as a stress precedent. | ●●●●4 of 5 | None recorded | None recorded | Tie |
| Track recordYears live and behaviour through past stress events. | ●●●●4 of 5 | 53 | 53 | Tie |
| Scale / market capBigger float usually means broader venue support and tighter spreads. | ●●●3 of 5 | $152.83M | $415.09M | HUMA |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 14 chains | 4 chains | FRAX |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | 8.60% | None | FRAX |
"Matters" is our weighting of how much each dimension typically drives a real allocation decision. Sort any column to re-rank the tradeoffs by what matters to you.
The short answer
HUMA scores higher on safety (64 vs 54), driven mainly by collateral quality and disclosure. FRAX has deeper tracked liquidity ($91.54M), which is what determines whether you can exit at size. FRAX currently earns up to 8.60% — remember that any rate above the T-bill yield is payment for a risk.
If both are fiat-reserve tokens, note that holding both is not diversification: they share the same short-dated Treasury and banking exposure. Genuine diversification means mixing collateral structures.
Which one fits your goal: FRAX or HUMA?
Capital preservation over everything else.
For park cash safely, HUMA is the better fit over FRAX.
- Safety score 64 vs 54, with collateral rated 55/100.
- Current peg deviation 0.000% against -0.767% for FRAX.
- No material depeg recorded for HUMA in our incident log.
Concentrating in one issuer is a single point of failure regardless of score. Split across collateral structures.
Key risks, side by side
FRAX
- Reflexive peg design: stability depends on demand for a second token.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
- Yield venue risk: 8.60% is earned outside the token itself.
- Chain concentration: 87% of supply sits on Ethereum.
HUMA
- Issuer and banking risk: reserves sit with Huma under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
| Metric | FRAX | HUMA |
|---|---|---|
| Category | Stablecoin | Tokenized Treasury |
| Issuer | Undisclosed | Huma |
| Jurisdiction | Not documented | Not documented |
| Collateral | algorithmic | treasuries |
| Peg mechanism | algorithmic | asset-backed |
| Attestation | none | monthly |
| Redemption | market-only | gated |
| Price | $0.9923 | $1.0000 |
| Peg deviation | −0.767% | 0.000% |
| Market cap | $152.83M | $415.09M |
| 7d supply change | +1.01% | +11.32% |
| Liquidity | $91.54M | $0.00 |
| Best yield | 8.60% (fraxlend · Ethereum) | None |
| Chains | 14 | 4 |
| Launched | — | — |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (FRAX vs HUMA)
- -76.7 bps
- $0.9923 vs $1.0000
- Peg deviation gap
- 0.767 pp
- FRAX −0.767% · HUMA 0.000%
- Yield spread
- +8.60%
- FRAX 8.60% · HUMA —
- Liquidity ratio
- —
- $91.54M vs $0.00
A round trip between FRAX and HUMA costs roughly the market spread plus venue fees. At 76.7 bps of price gap, swapping $1M implies about $7.7K of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Chain coverage
FRAX is live on 14 chains, HUMA on 4. 2 chains carry both, so bridging is only unavoidable for the 14 networks where just one of them is deployed.
| Chain | FRAX | HUMA | Both available |
|---|---|---|---|
| $132.45M | $150.11M | Yes | |
| $2.9K | $260.16M | Yes | |
| $15.19M | — | FRAX only | |
| — | $2.73M | HUMA only | |
| — | $2.09M | HUMA only | |
| $1.88M | — | FRAX only | |
| $718.7K | — | FRAX only | |
| $616.4K | — | FRAX only | |
| $575.6K | — | FRAX only | |
| $529.9K | — | FRAX only | |
| $484.7K | — | FRAX only | |
| $237.9K | — | FRAX only | |
| $70.5K | — | FRAX only | |
| $48.3K | — | FRAX only | |
| $19.1K | — | FRAX only | |
| $5.9K | — | FRAX only |
FRAX vs HUMA: frequently asked questions
Is FRAX or HUMA safer?
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On our composite safety score HUMA rates 64/100 versus 54/100 for FRAX. The score weighs collateral quality (treasuries vs algorithmic), redemption rights, attestation quality, peg history and liquidity depth. A higher score is not a guarantee: both remain issuer-credit and smart-contract exposures, not insured bank deposits.
What is the difference between FRAX and HUMA?
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Frax is issued by Undisclosed (Not documented), backed by algorithmic, with redemption terms: market-only. Huma is issued by Huma (Not documented), backed by treasuries, with redemption terms: gated. Attestation coverage is "none" for FRAX and "monthly" for HUMA.
Which has the bigger market cap, FRAX or HUMA?
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HUMA is larger at $415.09M in circulating supply, against $152.83M for the other. Over the last 7 days supply moved +1.01% for FRAX and +11.32% for HUMA.
Are FRAX and HUMA trading at $1.00 right now?
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FRAX trades at $0.9923 (−0.767% off peg) and HUMA at $1.0000 (0.000% off peg). The gap between the two is about 76.7 basis points, which is the cost you pay when rotating size between them before fees.
Has FRAX or HUMA ever depegged?
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FRAX: no material depeg recorded in our incident set. HUMA: no material depeg recorded in our incident set. Past peg behaviour under stress is the single best available proxy for how a token trades in the next crisis.
Which is better for large institutional size, FRAX or HUMA?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. FRAX shows deeper on-chain liquidity at $91.54M versus $0.00. Combine that with the redemption channel — FRAX: market-only; HUMA: gated — and size trades against the primary window rather than the order book where possible.
Can I earn yield on FRAX or HUMA?
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FRAX currently shows the higher rate at 8.60% via fraxlend · Ethereum, against no tracked rate for HUMA. Neither token pays interest by holding it in a wallet: the yield comes from lending, liquidity provision or a wrapped yield-bearing version, each with its own counterparty and contract risk.
Which chains support both FRAX and HUMA?
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Both are deployed on 2 shared networks, including Ethereum, Solana. FRAX spans 14 chains in total and HUMA spans 4. Bridged supply on a chain is not the same as natively issued supply, and it usually carries the bridge's risk rather than the issuer's.
What does it cost to switch from FRAX to HUMA?
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Budget three components: the current price spread of roughly 76.7 bps, swap or venue fees, and slippage against available depth ($91.54M for FRAX, $0.00 for HUMA). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is FRAX or HUMA regulated?
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FRAX is issued from Not documented with none; HUMA is issued from Not documented with monthly. Regulatory status varies by your own jurisdiction and by whether the token is offered under a specific stablecoin regime, so treat this as a starting point for diligence, not legal advice.