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Synthetix Founder Changes Personal X Username to kain.depeg (Depeg)
Synthetix founder Kain has changed the username of his personal X account to kain.depeg (depeg).
Additionally, Kain stated in response to the community regarding the sUSD depegging issue: "No one wants to see depegging happen, and multiple solutions are currently being researched."
Previously, it was reported that sUSD has been continuously depegged. According to Parsec analysis, the recent depegging of Synthetix stablecoin sUSD is not due to bad debt or protocol failure, but rather a side effect brought about by the SIP-420 mechanism adjustment. SIP-420 introduced a shared debt pool mechanism, where SNX stakers no longer mint sUSD individually and bear personal debt, but instead delegate funds to a public pool, achieving a structure without liquidation and personal debt. However, when the sUSD price deviates from the peg value, stakers no longer have the incentive to repurchase sUSD at a low price to repay debts, causing the protocol's original self-regulating mechanism to fail.
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