Odaily Odaily that Solstice issued an update on its X platform regarding the USX de-anchoring incident on the Solana chain. The update states that USX is recovering after experiencing volatility, liquidity has been injected, collateral is sufficient and intact. USX is neither an algorithmic stablecoin nor a reset base token. The price drop in the secondary market was caused by selling pressure from Orca and Raydium exceeding available liquidity. Solstice will continue to increase liquidity as needed to ensure secondary market stability. eUSX and YieldVault are unaffected. Assets held in Solstice's custody are unaffected and have a collateralization ratio exceeding 100%. A third-party certification report has been requested immediately for further verification.
Solstice: USX is not an algorithmic stablecoin; eUSX and YieldVault are unaffected.
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