Stablecoin depeg >2% on shared-LP venue
Frax Finance's assessment for RD-F-104 — scored green on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
T-09 v1 launch signal. frxUSD is protocol's own stablecoin (primary depeg surface); FRAX legacy also in scope. frxUSD launched Jan 2025, backed by BlackRock BUIDL at >100% CR per FIP-419. No public frxUSD depeg event found as of 2026-05-17. Legacy FRAX v1 supply winding down under v3 migration. No >2% deviation on ≥2 venues sustained ≥30 min reported. Tier-B threshold not breached. Signal would not fire today. Note: Frax IS a stablecoin issuer, so this signal is self-applicable — frxUSD depeg would be a Cat 6B fire for its own protocol.
Sources #
- GovernanceFIP-419 frxUSD launch governance proposalFIP-419: frxUSD launch with BlackRock BUIDL backing, >100% CR targetretrieved 2026-05-17
- frxUSD launch press release — Jan 2025frxUSD launch press release: BlackRock BUIDL backing, fully collateralized architectureretrieved 2026-05-17
Methodology #
Detect whether a stablecoin in this protocol's dependency graph depegs >2% on a venue with shared liquidity.
See the full factor methodology and distribution across all protocols →