According to Techub News, Solstice, a DeFi protocol within the Solana ecosystem, tweeted that the secondary market for the stablecoin USX will experience significant volatility, but the underlying asset net value and assets held in custody by Solstice will remain completely unaffected, with a collateralization ratio exceeding 100%. The team has requested a supplementary certification report from a third party immediately, which will be released as soon as it is completed. Solstice stated that this is purely a secondary market liquidity issue, and the team and market makers are working to resolve it immediately. They will continue to inject liquidity into the secondary market to ensure market stability. The 1:1 exchange rate in the primary market remains fully available.
According to PeckShield monitoring, the stablecoin USX briefly lost its peg, falling to $0.1 on the secondary market due to a liquidity crunch. After Solstice injected liquidity, the exchange rate subsequently recovered to $0.94.
