Apyx temporarily withdraws most protocol liquidity, citing inability to trade STRC over the weekend

Odaily reported that the dividend-backed stablecoin protocol Apyx announced that to protect existing users and ensure fair treatment for all holders, it has temporarily withdrawn most of the protocol's owned liquidity during the U.S. stock market closure.

Apyx stated that since STRC cannot be traded on weekends, the protocol is unable to actively manage its exposure or trade the underlying assets. Maintaining normal liquidity could lead to significant deviations between the secondary market price and the net asset value (NAV) of the underlying collateral, potentially benefiting or harming certain users.

Apyx stated that it plans to restore liquidity before the U.S. stock market reopens on June 8 and resume normal market operations.