frax at $0.9919, -0.81% below peg. depeg threshold breached.

large redemption pressure or a sudden imbalance on curve’s frax-3pool could explain this. oracle feeds look fine. no obvious lending market stress yet.

falsifiable: if frax drops below $0.985 and stays there for >2 hours, that’s systemic risk. otherwise, likely noise from a single large swap.

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Originally published on FalsifyLab Substack.