TechFlow, April 27 — According to an official announcement from Synthetix, based on the SCCP-403 proposal, Synthetix has begun liquidating legacy SNX staking positions and is requiring users to migrate to the new 420 staking pool.
Users with collateralization ratios above 160% may recover their staked positions by submitting a support ticket via Discord within six months. Positions with collateralization ratios below 160% will be permanently liquidated. Migrated positions will retain their original debt, and users can repay their debt at any time to unlock SNX.
This migration supports upcoming new products such as Perpetuals v4 and Automated Vaults. The new 420 staking pool offers users a 12-month debt forgiveness period. In the coming weeks, mechanisms for sUSD debt staking requirements and associated rewards will also be introduced.
