⚠️【sUSD Crashes to $0.70 — Not a Bug, But a Feature?】
On April 18, $sUSD dropped 13.9% in 24h, trading at $0.7038 with a market cap of just $22.96M 📉
❗ The depeg isn’t due to bad debt or a flaw — it’s a side effect of SIP-420:
Stakers no longer mint sUSD individually
Debt is pooled → no incentive to buy cheap sUSD to repay
This breaks the self-balancing mechanism ⚠️
🛠️ Synthetix plans to fix this via demand channels like Aave, Ethena integrations, and boosting Curve incentives.
💬 Insight: This is a wake-up call for DeFi — new models need better economic incentives, or decentralization may come at the cost of stability.
