TechFlow news, May 30 — According to an official announcement from Synthetix, to restore the 1:1 peg of sUSD to the US dollar, starting June 2 at 23:59 UTC, SNX stakers will need to increase their sUSD deposit ratio from 10% to 20% in order to continue qualifying for the debt jubilee program.
Previously, after some SNX stakers sold sUSD following receipt of debt relief, its price dropped as low as $0.70. Although the price has recovered to $0.96 through measures such as the 10% deposit requirement, final re-pegging remains challenging. Synthetix stated that after stabilizing the sUSD price, it will continue advancing core initiatives including the operation of Pool 420 and perpetual contracts on the Ethereum mainnet.
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