According to BlockBeats, Synthetix founder Kain.eth announced that the stablecoin sUSD has fully restored its peg, currently valued at $1.05. Kain.eth explained that while Synthetix's debt pool design and staking incentives have historically driven the protocol's growth, they have also posed significant challenges. Hidden debt inflation and market shocks nearly led to the protocol's collapse. The 420 pool provided time for restructuring and rebuilding, with pooled staking expected to reduce complexity and attract new stakers. The adjusted incentive framework aims to maintain the peg rate and rebuild confidence.
Sir...ure posting old news...if you posted last month or the last 2 weeks its ok..but for now your posting is history already..as time goes by..SNX team had take prety good measure for Susd.
The Crypto Headquarters
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sUSD COLLAPSE? South Korea Freezes SNX Deposits!
This isn’t just another depeg. This could be DeFi's next big crisis.
sUSD crashed to $0.68 and now, Korea’s top exchanges Upbit & Bithumb just froze SNX deposits.
Why? Because SNX backs sUSD and the whole structure is shaking. DAXA slapped SNX with a “caution” tag. That’s bad. Meanwhile, Synthetix founder Kain Warwick launched the sUSD 420 Pool:
Lock your sUSD for a year. Get a cut of 5 million SNX.
Desperate fix? Or DeFi genius? Investors are nervous. Exchanges are reviewing SNX. Recovery to $0.87 was brief. Trust is still broken. Could SNX get delisted? Will sUSD survive? Is this a wake-up call for stablecoins?
Sound off. This is the thread crypto can’t ignore.
Kain Warwick is a responsible guy and working with a good team, the pegging is not that an issue anymore and it can resolve within this year.
$SNX will bounce if the market 📈
TradeTerra
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sUSD in Trouble: Synthetix Founder Calls on Community to Save the Peg!
📉 What Is Happening? sUSD is a stablecoin made by Synthetix. It’s supposed to stay at $1, but right now it’s around $0.66, which means it has lost its peg. This is a big problem because people expect stablecoins to always be worth $1.
🔧 What Caused the Depeg? A recent update called SIP-420 changed how the system works: • It made it easier for people to mint (create) sUSD with SNX tokens • It lowered the amount of SNX needed to mint sUSD • It also forgave $60 million of old debt for stakers
But because of these changes, fewer people are buying sUSD — and that’s making it hard to keep its value close to $1.
🆘 What’s the Plan Now?
Synthetix founder Kain Warwick has asked the community to help fix the issue. Here’s the plan: • SNX holders can lock their sUSD in a new pool • In return, they’ll get a reward of 5 million SNX tokens • The sUSD will be locked for 1 year • The rewards will start unlocking after 3 months
Kain admitted this isn’t a perfect solution, but it’s necessary right now.
🔄 What Else Is Being Done? To help fix the peg, the team is: • Selling ETH to support SNX • Creating better rewards and incentives • Looking for new ways to increase demand for sUSD
✅ Conclusion: The sUSD depeg is a serious issue, but it can be fixed if the community helps.
If you hold SNX, this is your chance to support the system and earn rewards. Follow for updates — and stay alert!
This particular $SNX like a diamond in a rough, price were heavy down the edge. From the chart itself shows that $SNX will bounce and capable to upwards till 5X to 10X from ATL ( All time low) price.
My advise to all the crypto investor Dont miss out the oppurtunity to buy now $Snx.
Youre whinning like a baby...even BTC from $109114 drop nearly 25%...what u aspect the alt coin and token to sky rocket to the moon? IF BTC sneeze other coin fall sick.
$SNX This garbage market maker only sells coins and does not pump, it should be delisted. Various experts are bullish, but they are just colluding to deceive you into entering and picking up the shares.
Ive copy and upload ETH instead of SNX because they are related, if ETH fly up so will SNX.
Nowday and a couple of weeks a head, Its look like a heavy storm in the market. Many of us scared and in fear as it is going to world end because of the Tarif.
A few of us left the market thought there are smart, actually u wrong. What did the whale investor do? they buy when there to many people scared.
If you had an extra money just buy $SNX , eventhou looks not the best time to buy crypo let me tell us..its the best time. Buy while its cheap...SNX price 0.58? this is it ...BUY! HOLD, .
Many crypto coins n token were beat down, many of us as retailers were showing fear and sceptical in the market due to some regulation and tarif news.
When fear were in the air and heart that is the time the giants investors ate the puny retail investor, its kept going on like this till the end of the world.
My Advise =
If you still have your coins/token $BTC , $SNX , $ETH, $ADA or any others, please HOLD diamond hand 🫸💎🫷 hold thight and dont ever loose your grip.