The founder of Synthetix reveals that sUSD is about to restore its peg, and a pre-deposit event will help the stablecoin return.

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[Coin World] On August 9, Kain, the founder of Synthetix, released the latest progress on the sUSD de-pegging issue. The current sUSD price is 0.990619 USD, and it is about to restore its peg. Although this period has been harsh, the launch of the Mainnet pre-deposit activity will eventually bring sUSD back to normal. Previously, on April 18, the de-pegging of Synthetix's stablecoin sUSD intensified to 0.7 USD. Synthetix subsequently announced an emergency solution, and the USD 420 pool will be launched and incentivized. SNX stakers in the 420 pool can deposit sUSD to receive a reward share of 5 million SNX over 12 months. The deposited sUSD will be locked for one year and can be fully withdrawn after the activity ends. Kain, the founder of Synthetix, commented on this emergency solution, "This is one of the worst immediate solutions to create demand for sUSD from the user base."

SNX5.51%
SUSD-0.05%
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SmartContractPlumbervip
· 08-12 01:07
The logical loophole surprisingly relies on Lock-up Position to save the market. Auditors are keeping an eye on it.
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BlockchainFriesvip
· 08-10 23:52
Good work, now I've copied the representative work.
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GateUser-75ee51e7vip
· 08-09 12:44
Are you panicking just because it's 30% off?
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NFTRegretDiaryvip
· 08-09 12:37
It's good to be back, but unfortunately, I've lost quite a bit.
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MondayYoloFridayCryvip
· 08-09 12:28
Hold on, tomorrow we will take down the Hardcore Bear.
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ReverseTradingGuruvip
· 08-09 12:21
Watching a show is not a big deal; just a few days of anchoring and it's gone.
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