Synthetix Founder Shares Latest Update on sUSD Depegging: Mainnet Pre-Deposit Launch Expected to Restore sUSD Peg
According to ChainCatcher, Synthetix founder Kain has released the latest update on the sUSD depegging issue. The current sUSD price is $0.990619 and is about to return to its peg. Although this period has been tough, with the launch of the mainnet pre-deposit campaign, sUSD is expected to return to normal in the end.
Previously, on April 18, Synthetix’s stablecoin sUSD experienced intensified depegging, dropping to $0.70. Synthetix subsequently announced an emergency solution: the USD 420 pool would be launched and incentivized. SNX stakers in the 420 pool could deposit sUSD to receive a share of 5 million SNX rewards over 12 months. The deposited sUSD would be locked for one year and could be fully withdrawn after the campaign ends.
Synthetix founder Kain commented on this emergency solution, saying, “This is one of the worst immediate solutions, used to create demand for sUSD from the user base.”
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.
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