BlockBeats reported that on August 9, Synthetix founder Kain released the latest updates regarding the sUSD depegging issue, stating that the current sUSD price is $0.990619 and is about to regain its peg. Although this period has been harsh, the mainnet pre-deposit activity going live will ultimately help sUSD return to normal.
On April 18, Synthetix's stablecoin sUSD experienced a deeper depegging to $0.70. Synthetix subsequently announced an emergency solution, with the launch of a $420 pool that would be incentivized. SNX stakers in the $420 pool can deposit sUSD to receive a share of 5 million SNX over the next 12 months. The deposited sUSD will be locked for a year and can be fully withdrawn after the activity ends.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.'
