Mars Finance News: Synthetix founder Kain has changed his personal X account username to kain.depeg. Additionally, in response to community questions about sUSD depegging, Kain stated: "No one wants to see depegging happen, and multiple solutions are currently being studied." Previously, sUSD has been continuously depegging. According to Parsec analysis, the recent sUSD depegging is not due to bad debt or protocol failure, but rather a side effect of the SIP-420 mechanism adjustment. SIP-420 introduced a shared debt pool mechanism where SNX stakers no longer individually mint sUSD and bear personal debt, but instead delegate funds to a public pool, achieving a structure without liquidation and personal debt. However, when sUSD price deviates from its anchor value, stakers no longer have the motivation to repurchase sUSD at a low price to repay debt, causing the protocol's original self-regulation mechanism to fail.
Synthetix founder changed his personal X username to kain.depeg (de-anchored)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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