diff --git a/IMPLEMENTATION.md b/IMPLEMENTATION.md
index 1f00aa8..f975da6 100644
--- a/IMPLEMENTATION.md
+++ b/IMPLEMENTATION.md
@@ -82,7 +82,7 @@ Each type lives in `src/FrameProcessor/Domain/`. Tests in `tests/FrameProcessor.
 - Bind via `IOptionsMonitor<FramesOptions>`.
 - Custom validator enforcing rules from `SPEC.md` §6.2 (URL-safe name, MAC parseable, palette ≥2, hex parseable, dithering known).
 
-### [ ] 2.3 Startup vs reload asymmetry
+### [x] 2.3 Startup vs reload asymmetry
 - On startup: throw on any invalid frame (fail-fast).
 - On `OnChange`: log warning, skip invalid frame, keep valid ones serving (`PLAN.md` line 130, `CLAUDE.md` "frames.json reload asymmetry").
 - Add a `FramesRegistry` service that exposes `TryGetByName(FrameName)` / `TryGetByMac(MacAddress)` over the current valid set.
diff --git a/src/FrameProcessor/Configuration/FramesRegistry.cs b/src/FrameProcessor/Configuration/FramesRegistry.cs
new file mode 100644
index 0000000..b71c4c6
--- /dev/null
+++ b/src/FrameProcessor/Configuration/FramesRegistry.cs
@@ -0,0 +1,148 @@
+using FrameProcessor.Domain;
+using Microsoft.Extensions.Logging;
+using Microsoft.Extensions.Options;
+using SixLabors.ImageSharp;
+
+namespace FrameProcessor.Configuration;
+
+/// <summary>
+/// Holds the current set of valid frames parsed from <c>frames.json</c> and exposes
+/// lookups by <see cref="FrameName"/> and <see cref="MacAddress"/>. Enforces the
+/// startup-vs-reload asymmetry from SPEC.md §6.2 and CLAUDE.md "frames.json reload
+/// asymmetry": an invalid frame at startup fails fast; an invalid frame at hot-reload
+/// is logged and skipped while the remaining valid frames keep serving.
+/// </summary>
+public sealed class FramesRegistry : IDisposable
+{
+    private readonly FramesOptionsValidator _validator;
+    private readonly ILogger<FramesRegistry> _logger;
+    private readonly IDisposable? _changeSubscription;
+    private volatile FrameSet _frames;
+
+    public FramesRegistry(
+        IOptionsMonitor<FramesOptions> monitor,
+        FramesOptionsValidator validator,
+        ILogger<FramesRegistry> logger)
+    {
+        _validator = validator;
+        _logger = logger;
+
+        _frames = BuildStrict(monitor.CurrentValue);
+        _changeSubscription = monitor.OnChange(OnFramesChanged);
+    }
+
+    public IReadOnlyCollection<Frame> All => (IReadOnlyCollection<Frame>)_frames.ByName.Values;
+
+    public bool TryGetByName(FrameName name, out Frame frame)
+        => _frames.ByName.TryGetValue(name, out frame!);
+
+    public bool TryGetByMac(MacAddress mac, out Frame frame)
+        => _frames.ByMac.TryGetValue(mac, out frame!);
+
+    public void Dispose() => _changeSubscription?.Dispose();
+
+    private FrameSet BuildStrict(FramesOptions options)
+    {
+        var result = _validator.Validate(null, options);
+        if (result.Failed)
+        {
+            throw new OptionsValidationException(
+                nameof(FramesOptions),
+                typeof(FramesOptions),
+                result.Failures ?? Array.Empty<string>());
+        }
+
+        var byName = new Dictionary<FrameName, Frame>();
+        var byMac = new Dictionary<MacAddress, Frame>();
+        foreach (var frameOptions in options.Frames)
+        {
+            var frame = ToFrame(frameOptions);
+            byName[frame.Name] = frame;
+            byMac[frame.Mac] = frame;
+        }
+
+        return new FrameSet(byName, byMac);
+    }
+
+    private void OnFramesChanged(FramesOptions options)
+    {
+        var byName = new Dictionary<FrameName, Frame>();
+        var byMac = new Dictionary<MacAddress, Frame>();
+
+        for (var i = 0; i < options.Frames.Count; i++)
+        {
+            var frameOptions = options.Frames[i];
+            var single = new FramesOptions { Frames = { frameOptions } };
+            var result = _validator.Validate(null, single);
+            if (result.Failed)
+            {
+                _logger.LogWarning(
+                    "Skipping invalid frame at Frames[{Index}] on reload: {Errors}",
+                    i,
+                    string.Join("; ", result.Failures ?? Array.Empty<string>()));
+                continue;
+            }
+
+            var frame = ToFrame(frameOptions);
+
+            if (byName.ContainsKey(frame.Name))
+            {
+                _logger.LogWarning(
+                    "Skipping frame at Frames[{Index}] on reload: duplicate name '{Name}'.",
+                    i,
+                    frame.Name);
+                continue;
+            }
+
+            if (byMac.ContainsKey(frame.Mac))
+            {
+                _logger.LogWarning(
+                    "Skipping frame at Frames[{Index}] on reload: duplicate MAC '{Mac}'.",
+                    i,
+                    frame.Mac);
+                continue;
+            }
+
+            byName[frame.Name] = frame;
+            byMac[frame.Mac] = frame;
+        }
+
+        _frames = new FrameSet(byName, byMac);
+        _logger.LogInformation("Reloaded frames; {Count} active.", byName.Count);
+    }
+
+    private static Frame ToFrame(FrameOptions opts)
+    {
+        var name = FrameName.Parse(opts.Name!);
+        var mac = MacAddress.Parse(opts.Mac!);
+        var resolution = new Resolution(opts.Resolution!.Width, opts.Resolution.Height);
+        var orientation = opts.Orientation switch
+        {
+            "landscape" => Orientation.Landscape,
+            "portrait" => Orientation.Portrait,
+            _ => throw new InvalidOperationException(
+                $"Validator allowed unexpected orientation '{opts.Orientation}'."),
+        };
+        var dithering = opts.Dithering switch
+        {
+            "floyd-steinberg" => DitherAlgorithm.FloydSteinberg,
+            "atkinson" => DitherAlgorithm.Atkinson,
+            "stucki" => DitherAlgorithm.Stucki,
+            "jarvis" => DitherAlgorithm.Jarvis,
+            _ => throw new InvalidOperationException(
+                $"Validator allowed unexpected dithering '{opts.Dithering}'."),
+        };
+        var palette = opts.Palette
+            .Select(p => new PaletteEntry(
+                p.Name!,
+                Color.ParseHex(p.Color!),
+                Color.ParseHex(p.DeviceColor!)))
+            .ToList();
+
+        return new Frame(name, mac, resolution, orientation, dithering, palette);
+    }
+
+    private sealed record FrameSet(
+        IReadOnlyDictionary<FrameName, Frame> ByName,
+        IReadOnlyDictionary<MacAddress, Frame> ByMac);
+}
diff --git a/src/FrameProcessor/Domain/Frame.cs b/src/FrameProcessor/Domain/Frame.cs
new file mode 100644
index 0000000..90484b8
--- /dev/null
+++ b/src/FrameProcessor/Domain/Frame.cs
@@ -0,0 +1,14 @@
+namespace FrameProcessor.Domain;
+
+/// <summary>
+/// A configured frame after validation and parsing. All raw strings from
+/// <c>frames.json</c> have been converted to their typed values; consumers can use
+/// the contents directly without re-validating.
+/// </summary>
+public sealed record Frame(
+    FrameName Name,
+    MacAddress Mac,
+    Resolution Resolution,
+    Orientation Orientation,
+    DitherAlgorithm Dithering,
+    IReadOnlyList<PaletteEntry> Palette);
diff --git a/src/FrameProcessor/Program.cs b/src/FrameProcessor/Program.cs
index d20bc1b..76852f5 100644
--- a/src/FrameProcessor/Program.cs
+++ b/src/FrameProcessor/Program.cs
@@ -1,5 +1,4 @@
 using FrameProcessor.Configuration;
-using Microsoft.Extensions.Options;
 
 var builder = WebApplication.CreateBuilder(args);
 
@@ -27,13 +26,20 @@ builder.Services.AddOptions<ApiKeyOptions>()
     .ValidateDataAnnotations()
     .ValidateOnStart();
 
-builder.Services.AddSingleton<IValidateOptions<FramesOptions>, FramesOptionsValidator>();
+// FramesOptions is bound but not validated via the options pipeline so that
+// IOptionsMonitor<FramesOptions> can fire OnChange with invalid content during
+// hot-reload without throwing. FramesRegistry takes responsibility for both
+// strict startup validation (in its constructor) and lenient reload validation.
 builder.Services.AddOptions<FramesOptions>()
-    .Bind(builder.Configuration)
-    .ValidateOnStart();
+    .Bind(builder.Configuration);
+builder.Services.AddSingleton<FramesOptionsValidator>();
+builder.Services.AddSingleton<FramesRegistry>();
 
 var app = builder.Build();
 
+// Eagerly resolve FramesRegistry so an invalid frames.json fails startup fast.
+_ = app.Services.GetRequiredService<FramesRegistry>();
+
 app.MapControllers();
 
 app.Run();
diff --git a/tests/FrameProcessor.Tests/FramesRegistryTests.cs b/tests/FrameProcessor.Tests/FramesRegistryTests.cs
new file mode 100644
index 0000000..500d4e5
--- /dev/null
+++ b/tests/FrameProcessor.Tests/FramesRegistryTests.cs
@@ -0,0 +1,289 @@
+using FrameProcessor.Configuration;
+using FrameProcessor.Domain;
+using Microsoft.Extensions.Logging;
+using Microsoft.Extensions.Logging.Abstractions;
+using Microsoft.Extensions.Options;
+
+namespace FrameProcessor.Tests;
+
+public class FramesRegistryTests
+{
+    [Fact]
+    public void Construction_StrictOnStartup_ThrowsOnInvalidFrame()
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { Invalid() },
+        });
+
+        var ex = Assert.Throws<OptionsValidationException>(
+            () => new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance));
+
+        Assert.NotEmpty(ex.Failures);
+    }
+
+    [Fact]
+    public void Construction_StrictOnStartup_FailsIfOneFrameIsBad()
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom(), Invalid() },
+        });
+
+        Assert.Throws<OptionsValidationException>(
+            () => new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance));
+    }
+
+    [Fact]
+    public void TryGetByName_FindsParsedFrame()
+    {
+        var registry = BuildWith(LivingRoom());
+
+        Assert.True(registry.TryGetByName(FrameName.Parse("living-room"), out var frame));
+        Assert.Equal("living-room", frame.Name.Value);
+        Assert.Equal("aabbccddeeff", frame.Mac.ToString());
+        Assert.Equal(1600, frame.Resolution.Width);
+        Assert.Equal(1200, frame.Resolution.Height);
+        Assert.Equal(Orientation.Landscape, frame.Orientation);
+        Assert.Equal(DitherAlgorithm.FloydSteinberg, frame.Dithering);
+        Assert.Equal(2, frame.Palette.Count);
+    }
+
+    [Fact]
+    public void TryGetByMac_LooksUpRegardlessOfInputFormat()
+    {
+        var registry = BuildWith(LivingRoom());
+
+        Assert.True(MacAddress.TryParse("AA-BB-CC-DD-EE-FF", out var mac));
+        Assert.True(registry.TryGetByMac(mac, out var frame));
+        Assert.Equal("living-room", frame.Name.Value);
+    }
+
+    [Fact]
+    public void TryGetByName_UnknownReturnsFalse()
+    {
+        var registry = BuildWith(LivingRoom());
+
+        Assert.False(registry.TryGetByName(FrameName.Parse("kitchen"), out _));
+    }
+
+    [Fact]
+    public void TryGetByMac_UnknownReturnsFalse()
+    {
+        var registry = BuildWith(LivingRoom());
+
+        Assert.True(MacAddress.TryParse("11:22:33:44:55:66", out var mac));
+        Assert.False(registry.TryGetByMac(mac, out _));
+    }
+
+    [Fact]
+    public void Reload_DropsInvalidFrameAndKeepsValidOnes()
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance);
+
+        monitor.Emit(new FramesOptions
+        {
+            Frames = { LivingRoom(), Invalid(), Kitchen() },
+        });
+
+        Assert.True(registry.TryGetByName(FrameName.Parse("living-room"), out _));
+        Assert.True(registry.TryGetByName(FrameName.Parse("kitchen"), out _));
+        Assert.Equal(2, registry.All.Count);
+    }
+
+    [Fact]
+    public void Reload_DoesNotThrowOnAllInvalid()
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance);
+
+        monitor.Emit(new FramesOptions { Frames = { Invalid() } });
+
+        Assert.Empty(registry.All);
+    }
+
+    [Fact]
+    public void Reload_LogsWarningForSkippedFrame()
+    {
+        var logger = new ListLogger<FramesRegistry>();
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), logger);
+
+        monitor.Emit(new FramesOptions { Frames = { LivingRoom(), Invalid() } });
+
+        Assert.Contains(logger.Entries,
+            e => e.Level == LogLevel.Warning && e.Message.Contains("Skipping invalid frame"));
+    }
+
+    [Fact]
+    public void Reload_SkipsDuplicateNameAcrossSurvivingFrames()
+    {
+        var logger = new ListLogger<FramesRegistry>();
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), logger);
+
+        var firstWithName = LivingRoom();
+        firstWithName.Mac = "11:22:33:44:55:66";
+        var secondWithSameName = LivingRoom();
+        secondWithSameName.Mac = "77:88:99:AA:BB:CC";
+
+        monitor.Emit(new FramesOptions { Frames = { firstWithName, secondWithSameName } });
+
+        Assert.Single(registry.All);
+        Assert.Contains(logger.Entries,
+            e => e.Level == LogLevel.Warning && e.Message.Contains("duplicate name"));
+    }
+
+    [Fact]
+    public void Reload_SkipsDuplicateMacAcrossSurvivingFrames()
+    {
+        var logger = new ListLogger<FramesRegistry>();
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), logger);
+
+        var firstWithMac = LivingRoom();
+        var secondWithSameMac = LivingRoom();
+        secondWithSameMac.Name = "kitchen";
+        secondWithSameMac.Mac = "aabbccddeeff";
+
+        monitor.Emit(new FramesOptions { Frames = { firstWithMac, secondWithSameMac } });
+
+        Assert.Single(registry.All);
+        Assert.Contains(logger.Entries,
+            e => e.Level == LogLevel.Warning && e.Message.Contains("duplicate MAC"));
+    }
+
+    [Fact]
+    public void Dispose_UnsubscribesFromMonitor()
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = { LivingRoom() },
+        });
+        var registry = new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance);
+
+        registry.Dispose();
+
+        monitor.Emit(new FramesOptions { Frames = { LivingRoom(), Kitchen() } });
+
+        Assert.Single(registry.All);
+        Assert.True(registry.TryGetByName(FrameName.Parse("living-room"), out _));
+    }
+
+    private static FramesRegistry BuildWith(params FrameOptions[] frames)
+    {
+        var monitor = new TestOptionsMonitor<FramesOptions>(new FramesOptions
+        {
+            Frames = frames.ToList(),
+        });
+        return new FramesRegistry(monitor, new FramesOptionsValidator(), NullLogger<FramesRegistry>.Instance);
+    }
+
+    private static FrameOptions LivingRoom() => new()
+    {
+        Name = "living-room",
+        Mac = "AA:BB:CC:DD:EE:FF",
+        Resolution = new ResolutionOptions { Width = 1600, Height = 1200 },
+        Orientation = "landscape",
+        Dithering = "floyd-steinberg",
+        Palette = new List<PaletteEntryOptions>
+        {
+            new() { Name = "black", Color = "#1F2226", DeviceColor = "#000000" },
+            new() { Name = "white", Color = "#B9C7C9", DeviceColor = "#FFFFFF" },
+        },
+    };
+
+    private static FrameOptions Kitchen() => new()
+    {
+        Name = "kitchen",
+        Mac = "11:22:33:44:55:66",
+        Resolution = new ResolutionOptions { Width = 800, Height = 600 },
+        Orientation = "portrait",
+        Dithering = "atkinson",
+        Palette = new List<PaletteEntryOptions>
+        {
+            new() { Name = "black", Color = "#000000", DeviceColor = "#000000" },
+            new() { Name = "white", Color = "#FFFFFF", DeviceColor = "#FFFFFF" },
+        },
+    };
+
+    private static FrameOptions Invalid() => new()
+    {
+        Name = "bad name",
+        Mac = "not-a-mac",
+        Resolution = null,
+        Orientation = "diagonal",
+        Dithering = "ordered",
+        Palette = new List<PaletteEntryOptions>(),
+    };
+
+    private sealed class TestOptionsMonitor<T> : IOptionsMonitor<T>
+    {
+        private T _current;
+        private Action<T, string?>? _listeners;
+
+        public TestOptionsMonitor(T initial) { _current = initial; }
+
+        public T CurrentValue => _current;
+
+        public T Get(string? name) => _current;
+
+        public IDisposable? OnChange(Action<T, string?> listener)
+        {
+            _listeners += listener;
+            return new Unsubscriber(() => _listeners -= listener);
+        }
+
+        public void Emit(T newValue)
+        {
+            _current = newValue;
+            _listeners?.Invoke(newValue, null);
+        }
+
+        private sealed class Unsubscriber : IDisposable
+        {
+            private readonly Action _onDispose;
+
+            public Unsubscriber(Action onDispose) { _onDispose = onDispose; }
+
+            public void Dispose() => _onDispose();
+        }
+    }
+
+    private sealed record LogEntry(LogLevel Level, string Message);
+
+    private sealed class ListLogger<T> : ILogger<T>
+    {
+        public List<LogEntry> Entries { get; } = new();
+
+        public IDisposable? BeginScope<TState>(TState state) where TState : notnull => null;
+
+        public bool IsEnabled(LogLevel logLevel) => true;
+
+        public void Log<TState>(
+            LogLevel logLevel,
+            EventId eventId,
+            TState state,
+            Exception? exception,
+            Func<TState, Exception?, string> formatter)
+        {
+            Entries.Add(new LogEntry(logLevel, formatter(state, exception)));
+        }
+    }
+}