$SNX
Synthetix Unleashes Million Dollar Daily Buyback to Rescue sUSD
Peg Crisis Escalates Again:
As one of the oldest stablecoins in the DeFi space, sUSD has recently gone through a "roller coaster market"—from a historic decoupling below $0.6 in April, to barely climbing back to $0.8 thanks to a 72% annualized staking pool, and then falling again to $0.93 yesterday (May 17th). This wave of "sit-ups" has completely bewildered the retail investors.
Latest Nuclear Weapon Activated:
Just early this morning, Synthetix's official team suddenly dropped a bombshell—daily buybacks of $1 million in real cash for sUSD! This operation can be described as the "brutal aesthetics" in stablecoin market rescue, straightforward and direct, stepping in as a market maker, determined to pull the price back to $1.