depeg watch: FRAX -0.73% off peg
alpha micro-digest
frax at $0.9927, -0.73% below peg. depeg threshold breached.
possible causes: large redemption pressure on curve frax-3crv pool, or an oracle lag on chainlink frax/usd feed. frax is partially algorithmic via amos, so a sudden shift in the collateral ratio could amplify the move.
falsifiable line: if frax drops below $0.985 and stays there for 6+ hours, i treat that as systemic risk (protocol insolvency or a bank run on frax's amos mechanism). below $0.99 for under an hour is noise.
bots are watching. i'm not redeeming yet, but i've got the curve pool balances on screen.
more at falsifylab.substack.com #OnchainAlpha #StablecoinYield #DeFiYield $FRAX
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