Solana-based stablecoin USX once experienced a defegation.

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According to blockchain security firm Peckshield, the Solana-based stablecoin USX once experienced a defegation due to a lack of liquidity. USX plummeted to as low as $0.10 but has since recovered to $0.98. The Solstice team stated, "USX's underlying and custodial assets were unaffected by this incident, and it currently maintains a 100% collateralization ratio. This incident occurred due to liquidity issues in secondary markets (exchanges, etc.), and the team and market makers plan to continue providing liquidity to stabilize the market."

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