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The Solstice project failed to meet expectations during its public offering on the Legion platform, and subsequently, its stablecoin USX faced de-pegging issues in the secondary market. According to feedback, this liquidity crisis was caused by market fund withdrawals. The official quickly took action to inject liquidity into the secondary market to stabilize the situation. Currently, the USX price has recovered to around $0.9989.
Although the official appears to have made a 1:1 redemption promise, this mechanism only applies to primary market participants. For ordinary users trading in the secondary market, they can only face the actual market price fluctuations and cannot enjoy the same protective measures. This difference in rules between the primary and secondary markets effectively shifts the de-pegging risk entirely onto later entrants—liquidity can be bought when tight, but to fully recover costs depends on market conditions.