No. USDu is holding its peg. Pegana's current read is −0.03% from intrinsic value, inside its calibrated drift band. USDu (USDu) last traded at $0.9997 against an intrinsic value of $1.0000, as of .
USDu is a fiat-backed stablecoin, so its intrinsic value is $1.00 by construction and the only question is whether the market price is holding there. Pegana computes USDu’s intrinsic value from its peg mechanism and compares it against the best executable market quote. The spread is smoothed, classified against USDu’s own calibrated thresholds with hysteresis, and every state change emits a public receipt that anyone can re-derive byte-for-byte with the open-source methodology crate.