According to official sources, PANews reports on May 17th that Synthetix has announced the launch of a daily sUSD market buyback program with a maximum limit of $1 million to address the recent decline of sUSD price to $0.93. The program will be conducted through open market operations, aiming to support market forces and restore the peg of sUSD to the US dollar. Previously, Synthetix has introduced multiple measures, including the Infinex rewards program and the sUSD staking plan for the 420 Pool, which currently offers an annual yield of 72% and requires participants to maintain a 10% sUSD staking ratio. These measures have initially stabilized the sUSD price.
Synthetix launches sUSD buyback program with a daily maximum limit of $1 million
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