TechFlow, April 10 — According to data from CoinGecko, Synthetix's stablecoin sUSD depegged to $0.8896. On April 2, Synthetix founder Kain Warwick tweeted in response to user concerns about the sUSD depeg, stating "Synthetix is not dying," and explained the context behind sUSD's volatility by reviewing stablecoin history. He noted that while sUSD is indeed more volatile than USDT and DAI, its design mechanism differs and the fluctuation remains within normal expectations. He also reviewed the evolution of stablecoins since the emergence of USDT, bitUSD, and Nubits in 2014, emphasizing that even centralized stablecoins like USDC have previously experienced significant depegs.
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