sUSD struggles to regain $1 peg as Synthetix deploys recovery measures post SIP-420
Synthetix’s algorithmic stablecoin sUSD is continuing to drift from its $1 peg, currently trading at $0.90. The depeging began in March, with sUSD briefly slipping below $1, but the situation worsened after the implementation of SIP-420—a governance proposal aimed at improving capital efficiency and simplifying the user experience within the Synthetix (SNX) ecosystem. According to … Read more