frax at $0.9933, -0.67% below peg. depeg threshold breached.

possible causes: large redemption pressure on frax, or a temporary imbalance on curve/fraxswap pools. oracle feeds still live. no obvious cascade in lending markets yet.

falsifiable: if frax drops below $0.985, that’s systemic — frax’s amm design can amplify redemptions. between here and there, treat as noise.

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

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Originally published on FalsifyLab Substack.