$SNX
Synthetix makes a big move! The sUSD peg defense battle escalates, can the doubled collateral ratio save the day?
Recently, the crypto world has truly been a scene of magical realism — on one hand, meme coins on the Solana blockchain are soaring, while on the other hand, the established DeFi protocol Synthetix is frantically wrestling with the decoupling crisis of its stablecoin sUSD. Just now, the official announcement has dropped a bombshell: starting June 2, the sUSD deposit ratio for SNX collateralizers will double from 10% to 20%, and those who do not meet the standard will have their debt relief benefits suspended!
Although fixing the peg is a top priority, Synthetix's ambitions go beyond that. The officials have stated that once stability is achieved, they will fully push forward with the operation of the 420 pool and perpetual contracts on the Ethereum mainnet. This move is clearly aimed at competing with dYdX and GMX for the derivatives market share! However, insiders are more concerned: how long can the “debt pool model” of sUSD hold up? After all, MakerDAO's DAI has long been engaging in RWA, and if Synthetix continues to stubbornly focus on pure crypto collateral, it might end up in a twist…
