Odaily News Synthetix announced that its stablecoin sUSD will be restored to the target of 1 USD, and starting from June 2 at 23:59 UTC, SNX debt collateral users will be required to increase the sUSD collateral ratio in Pool 420 from 10% to 20%, otherwise debt exemptions will be suspended. Previously, due to user dumping, sUSD once fell to 0.70 USD. The official stated that restoring the peg will help advance the SIP-420 proposal and the subsequent deployment of v4 contracts on the Ethereum Mainnet.
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BigStick
· 05-30 07:12
Odaily News Synthetix announced that its stablecoin sUSD will be restored to a target of 1 USD, and from June 2nd, 23:59 UTC, SNX debt stakers will be required to increase the collateralization ratio of sUSD in Pool 420 from 10% to 20%, or else debt forgiveness will be suspended. Previously, due to user selling, sUSD had once fallen to 0.70 USD. The official stated that restoring the peg will help advance the SIP-420 proposal and the subsequent deployment of v4 contracts on the Ethereum Mainnet.
Synthetix will restore the sUSD peg to 1 USD, which will increase the collateral requirement for the 420 pool.
Odaily News Synthetix announced that its stablecoin sUSD will be restored to the target of 1 USD, and starting from June 2 at 23:59 UTC, SNX debt collateral users will be required to increase the sUSD collateral ratio in Pool 420 from 10% to 20%, otherwise debt exemptions will be suspended. Previously, due to user dumping, sUSD once fell to 0.70 USD. The official stated that restoring the peg will help advance the SIP-420 proposal and the subsequent deployment of v4 contracts on the Ethereum Mainnet.