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Synthetixs announces "sUSD depegging" emergency solution, sUSD rises back to 0.83 USD
On April 18, Synthetix announced an emergency solution for its “stablecoin sUSD decoupling”; the USD 420 pool will launch and incentivize in 36 hours. SNX stakers in the 420 pool can deposit sUSD to receive a share of 5 million SNX over 12 months. The deposited sUSD will be locked for one year, and can be fully withdrawn after the event ends, with the earned SNX rewards also locked and unlocked within 3 months after the event ends. Synthetix founder Kain commented on the emergency solution, “This is one of the worst immediate solutions to create demand for sUSD from the user base.” According to market information, this morning the Synthetix stablecoin sUSD’s decoupling intensified to $0.7, falling 13.9% in 24 hours, and has now risen to $0.83.