I did addional research about Frax Finance. I found out that only 75% of Frax emissions are collateralized by stablecoins. Some of their collateral is just FRAX, because what they are doing is that they mint FRAX, provide it as liquidity to Curve pool, get LP tokens and then stake it on Convex, so I remove this part of FRAX from my research. As a final result the number is 75%. Remaining part consists of different tokens. This part includes all AMOs: lending, investor, main.
Frax has its own lending platform, where users can deposit their collateral: sfrxETH, gOHM, WBTC, etc., and then users can mint FRAX against it. The most popular collateral is sfrxETH. Users lent 42.31m FRAX and borrowed against it 31.25m FRAX.
Source for this information: https://facts.frax.finance/frax/balance-sheet Show Less
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