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Synthetix announces sUSD unanchoring emergency plan

On April 18, Synthetix launched an emergency solution to unanchor sUSD stablecoins, which will launch the USD420 pool and activate the incentive mechanism in 36 hours. SNX mortgage holders can deposit sUSD to participate and share a total of 5 million SNX rewards. The sUSD will be locked for one year and the rewards will be unlocked within three months after the event ends. Kain, founder of Synthetix, said it was "one of the worst instant solutions" and was designed to quickly create on-chain demand for sUSD. The price of sUSD once dropped to US$0.70, falling by 13.9% in 24 hours, and has now recovered to US$0.83.

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