On April 18th, Synthetix launched an emergency solution for the de-anchoring of sUSD stablecoin, which will start the USD 420 pool and open the incentive mechanism after 36 hours. SNX collateral holders can deposit sUSD to participate and share a total of 5 million SNX rewards. The sUSD will be locked for one year, and the rewards will be unlocked within three months after the event ends.
Kain, Synthetix founder, said it was "one of the worst instant fixes" aimed at quickly creating on-chain demand for sUSD, which had fallen 13.9 per cent in 24 hours to $0.70 before recovering to $0.83.
Synthetix Announces Emergency Plan for sUSD Unanchoring
2025-04-18 12:15:54
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