Synthetix announces "sUSD depegging" emergency solution, sUSD rebounds to $0.83

ChainCatcher news, according to official sources, Synthetix has announced an emergency solution for its "stablecoin sUSD de-pegging." The USD 420 pool will launch in 36 hours and will be incentivized. SNX stakers in the 420 pool can deposit sUSD to earn a share of 5 million SNX over 12 months. The deposited sUSD will be locked for one year, and after the event ends, it can be fully withdrawn. The earned SNX rewards will also be locked and will unlock within 3 months after the event ends.

Synthetix founder Kain commented on the emergency solution, saying, "This is one of the worst immediate solutions to create demand for sUSD from the user base."

Currently, the price of sUSD has rebounded to $0.83.

Previous news, the de-pegging of Synthetix stablecoin sUSD intensified to $0.7, down 13.9% in 24 hours.