Synthetix announces contingency plan for sUSD depegging
On April 18th, Synthetix launched an emergency solution for the sUSD stablecoin to be unpegged. The USD 420 pool will be launched in 36 hours and incentives will be activated. SNX stakers can deposit sUSD to participate and share a total reward of 5 million SNX. The sUSD will be locked for a year, and the rewards will be unlocked within three months after the end of the event.
Synthetix founder Kain stated that this is "one of the worst instant solutions" aimed at quickly creating on-chain demand for sUSD. Previously, the sUSD price dropped to $0.70, with a 24-hour decrease of 13.9%, but has now risen to $0.83.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Banking the unbanked, but this time for real?
Ripple and SEC made a $50 million deal
Altcoins Gear Up for Profitable Rally
Altcoin holders could be in for major gains as market sentiment turns bullish.Altcoin Holders Anticipate Major GainsWhat’s Fueling the Altcoin Rally?Time to Watch the Altcoin Market Closely
Best Cryptos to Buy Now: Why Qubetics, Cardano, and Toncoin Are Dominating 2025’s Blockchain Revolution
Explore why Qubetics, Cardano, and Toncoin are the best cryptos to buy now in 2025, with groundbreaking innovations and real-world applications.Qubetics ($TICS): Bridging Real-World Assets with BlockchainCardano (ADA): Pioneering Sustainable Blockchain SolutionsToncoin (TON): Revolutionizing Digital InteractionsUnderstanding Real World Asset TokenizationConclusion
Trending news
MoreCrypto prices
More
