“Synthetix founder Kane Urvik has promised to increase the pressure on SNX tokens owners to force them to use the new stinging mechanism to restore SUSD stinging. Update on the Susd Depeg. We have Implemented An Susd Staking Mechanism But It’s Very Manual Unil the Ui Goes Live in A FEW Days. HERE WAS MY HOT TO DAKE FROM DiscoD TONOUGH. […]”, – WRITE: Businessua.com.ua
Synthetix founder Kane Urvik has promised to increase pressure on SNX tokens owners to make them use a new stinging mechanism to restore the binding Susd steiblcoin.
Update on the Susd Depeg. We have Implemented An Susd Staking Mechanism But It’s Very Manual Unil the Ui Goes Live in A FEW Days. HERE WAS MY HOT TO DAKE FROM DiscoD TONOUGH.
– Kain.depeg (@kaiynne) April 21, 2025
At the end of March, a stable coin lost parity with dollar at the end of March. On April 18, the SUSD course collapsed to a local minimum of $ 0.68. At the time of writing the quotation, they recovered to $ 0.77 (Coingcko).
The provision during the release of “synthetic steiblcoin” are blocked in SNX stinging.
Synthetix explained the current volatility of SUSD with implementation Sip-420. Upgrade has suffered debt risks from the steker to the protocol itself.
On April 18, the project team launched a decision of 420 Pool. The mechanism allows you to block the SUSD year to receive rewards in SNX.
🔔 The Susd 420 Pool is Launcling with Rewards Starting in 36 Hours 🔔
Snx Stakers in The 420 Pool Can Deposit Susd to Earn A Share of 5M Snx Over 12 MONHS – OR 13,698.6 SNX Daily
🧵 [1/5] pic.twitter.com/xy5qupthk9
– Synthetix ⚔️ (@synthetix_io) April 18, 2025
Worvik acknowledged that the user interface of the mechanism is still “very manual”. He expects the developers to improve it for several days. After that, the founder of Synthetix intends to evaluate the dynamics of the SUSD depreciation and, if the coin does not recover to the dollar, to increase the pressure on users of the pool.
“This is quite possible to decide, and this is the responsibility of SNX steker. We did nothing that would not work, now we tried carrots, and she allegedly made it, but I will abstain from judgments. I think everyone knows how I love the whip, so if you hope you can do gingerbread, I have bad news for you, ”Vorvik said.
He stressed that the net cost of SNX in stinging is “several billion”, so “money to solve the problem is” and simply requires adjustment of incentives.
Only Just SkimMed The Mechanics Now, So Feel Free to School Me Buting A Stablecoin Peg to Any Token Is ‘Trust Me, Bro’ Economics? Given Long Enough Time Frame, The Peg Will Break
– LBX (@bhxlla) April 21, 2025
As for 420 Pool, one of the commentators said:
“Just running on mechanics, so feel free to teach me. But tying steiblcoin to any token is an economy like “Believe me, bro.” At a fairly long timer, it will break. ”
In his opinion, the proposed “extremely immature” solution to maintain SUSD stability causes “anxiety and negative”.
Recall that Standard Charter has predicted the growth of total capitalization of steiblcoins to ~ $ 2 trillion by 2028.
The gun
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