frax at $0.9944, -0.56% below peg. depeg threshold breached.

large redemption pressure from curve frax-3crv pool, where frax is the dominant asset. oracle feed from chainlink still showing $0.9997, so this is an exchange imbalance, not a pricing error. amm depth on uniswap v3 frax/usdc has thinned 40% in the last 6 hours.

falsifiable: if frax stays below $0.99 for more than 2 hours, treat as systemic risk (potential algo unwind). if it recovers above $0.998 within 30 minutes, noise.

one bot watching the peg. zzz.

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Originally published on FalsifyLab Substack.