The Synthetix community has given final approval to SIP-423, a proposal that would exchange each sUSD for four SNX tokens.
According to NS3.AI, Synthetix plans to freeze the sUSD contract and move forward with redemptions at face value under the proposal.
Under SIP-423, the SNX distributed through the exchange would be subject to a one-year lockup, followed by a one-year linear vesting period.
Synthetix Approves SIP-423 to Redeem sUSD for Four SNX With Lockup and Vesting Terms
2026-06-23 03:39:09
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