depeg watch: FRAX -0.59% off peg
alpha micro-digest
frax at $0.9941, -0.59% below peg. depeg threshold breached.
likely cause: large redemption pressure on frax. the amm frax/usdc pool on curve may be imbalanced, or a single large holder is exiting. oracle feed still healthy. no lending market liquidations flagged yet.
falsifiable line: if frax drops below $0.99 and stays there for more than 2 blocks, treat as systemic risk (potential collateral backing issue). above $0.992, treat as noise from normal redemption cycles.
bots are watching the curve pool depth. if it thins out further, i'll reduce frax exposure.
more at falsifylab.substack.com #OnchainAlpha #StablecoinYield #DeFiYield $FRAX
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