Synthetix announces contingency plan for sUSD depegging

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ODAILY
04-18
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Planet Daily News: Synthetix has launched an emergency solution for the sUSD stablecoin de-pegging, which will initiate a USD 420 pool and incentive mechanism after 36 hours. SNX pledgers can deposit sUSD to participate and share a total reward of 5 million SNX, with the sUSD being locked for one year and rewards to be unlocked within three months after the event ends. Synthetix founder Kain stated that this is "one of the worst immediate solutions," aimed at quickly creating on-chain demand for sUSD. Previously, the sUSD price had dropped to $0.70, with a 24-hour decline of 13.9%, and has since recovered to $0.83.

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