CoinVoice has learned that Synthetix founder Kain has released the latest developments on the sUSD depegging issue, with the current sUSD price at $0.990619, indicating it is about to regain its peg. Although this period has been harsh, the eventual launch of the mainnet pre-storage activity will help sUSD return to normal.
On April 18, the Synthetix stablecoin sUSD experienced a severe depegging to $0.70. Synthetix subsequently announced an emergency solution, with a USD 420 pool set to launch and be incentivized. SNX stakers in the 420 pool can deposit sUSD to earn a share of 5 million SNX over the next 12 months. The deposited sUSD will be locked for one year and can be fully withdrawn after the activity ends.
Synthetix founder Kain commented on the emergency plan, saying, 'This is one of the worst immediate solutions to create demand for sUSD from the user base.' [Original link]
