Additionally, the AMO’s overall strategy allows for optimizing the minimum FRAX supply Y such that selling all of Y at once into a Curve pool with Z TVL and A amplification factor will impact the price of FRAX by less than X%, where X is the CR’s band sensitivity. Said in another way, the Curve AMO can put FRAX+USDC into its own Curve pool and control TVL. Since the CR recollateralizes when FRAX price drops by more than 1 cent under $1, that means that there is some value of FRAX that can be sold directly into the Curve pool before the FRAX price slips by 1%. The protocol can have at least that amount of algorithmic FRAX circulating on the open market since a sale of that entire amount at once into the Curve pool’s TVL would not impact the price enough to cause the CR to move. These amounts are quite large and impressive when considering Curve’s stablecoin optimized curve. For example, a 330m TVL FRAX3Pool (assuming balanced underlying 3Pool) can support at minimum a $39.2m FRAX sell order without moving the price by more than 1 cent. If the CR band is 1% then the protocol should have at least 39.2m algorithmic FRAX in the open market at minimum.