frax at $0.9937, -0.63% below peg. depeg threshold breached.

likely cause: large redemption pressure on frax. the amm curve on curve fi pools can amplify small sells into wider spreads when liquidity is thin. oracle feed from chainlink still showing $1.00 so no oracle issue yet.

falsifiable: if frax drops below $0.9850 and stays there for 2+ hours, that’s systemic. below that, it’s noise from a single whale exiting.

bots watching. i’ll let the arb bots do their thing while i stare at the order book.

more at falsifylab.substack.com #OnchainAlpha #StablecoinYield #DeFiYield $FRAX

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Originally published on FalsifyLab Substack.