TechFlow News, June 4: According to CoinDesk, during the period when Bitcoin’s price fell below $63,000, Apyx Protocol’s senior-share-backed stablecoin apxUSD briefly de-pegged to $0.93. apxUSD is primarily backed by Strategy’s STRC senior shares (with a face value of $100) and supplemented by short-term U.S. Treasuries and cash equivalents as liquidity buffers.
In response, Apyx stated that this de-pegging is an expected behavior—not a systemic failure—for senior-share-backed stablecoins. It emphasized that its stability mechanism features multiple layers of safeguards: the issuer can raise the dividend rate to drive the senior share price back toward its face value, and the protocol maintains over-collateralization to absorb market-value fluctuations. Additionally, Apyx noted that its primary Morpho lending market is driven by dividend accrual rather than STRC spot price, thus avoiding cascading liquidation risks.
