Synthetix announces contingency plan for sUSD depegging

Odaily News Synthetix has launched an emergency solution for the depegging of the sUSD stablecoin. It will launch the USD 420 pool and start the incentive mechanism in 36 hours. SNX mortgagees 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 end of the event.
Kain, the founder of Synthetix, said that this is "one of the worst instant solutions" aimed at quickly creating on-chain demand for sUSD. Previously, the price of sUSD once dropped to $0.70, a 24-hour drop of 13.9%, and has now rebounded to $0.83.