Frankencoin (ZCHF) is a crypto-backed Swiss franc stablecoin issued by Frankencoin (decentralised). It has about $50.4M in circulation, ranking #72 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
What is ZCHF?
Frankencoin (ZCHF) is a crypto-backed Swiss franc stablecoin issued by Frankencoin (decentralised). It has about $50.4M in circulation, ranking #72 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
In the issuer's words: Frankencoin ZCHF is a collateralized, oracle-free stablecoin that tracks the value of the Swiss franc.
ZCHF supply history
ZCHF supply grew 0.2% over the past 30 days, to $50.4M. It is at or near its all-time high.
Is ZCHF holding its peg?
ZCHF is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where ZCHF lives: supply by blockchain
Supply is concentrated: Ethereum holds 92% of all ZCHF. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How ZCHF is backed
ZCHF is backed by crypto collateral via an auction-based minting system.
Minting and redemption: To mint ZCHF, propose a new position with a 1,000 ZCHF fee or clone an existing position, with reserves and interest deducted upfront, secured by a challenge-and-auction system to maintain collateral integrity.
Reserve reports and audits: github.com · github.com · github.com · github.com
ZCHF risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
ZCHF vs USDT and USDC
ZCHF FAQ
What is ZCHF?
Frankencoin (ZCHF) is a crypto-backed Swiss franc stablecoin issued by Frankencoin (decentralised). It has about $50.4M in circulation, ranking #72 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
Is ZCHF pegged 1:1 to the swiss franc?
ZCHF targets 1 CHF. At the last update it traded at CHF 1.0004, a deviation of +0.04%, which we classify as "on peg".
What backs ZCHF?
ZCHF is a crypto-backed stablecoin. Crypto collateral via an auction-based minting system.
Which blockchains is ZCHF on?
ZCHF is live on 5 blockchains. The largest by supply are Ethereum ($37.2M), Gnosis ($1.8M), OP Mainnet ($1.3M).
How much ZCHF is in circulation?
About $50.4M of ZCHF was in circulation at the last update, +0.2% over 30 days. That makes it the #72 stablecoin by supply among those we track.
Does ZCHF pay interest?
No. ZCHF does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by ZCHF.
Is ZCHF safe?
No stablecoin is risk-free. As a crypto-backed design, ZCHF's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.