Synthetix increases debt collateralists 'sUSD pledge requirement to 20% to restore the stablecoin anchor
On May 30, according to Syntix official news, in order to restore the 1:1 anchoring of sUSD to the US dollar, SNX debt stakers will need to increase their sUSD deposit ratio from 10% to 20% starting from 23:59 UTC on June 2 in order to continue to enjoy the debt relief (jubilee) policy. Previously, the price of sUSD fell to US$0.70 when some debt mortgagors (SNX stakers) sold sUSD after receiving debt relief. Although the sUSD price has recovered to US$0.96 through measures such as the implementation of a 10% deposit requirement, the final anchor repair still faces challenges. Synthetix said that after completing the stabilization of sUSD prices, it will continue to advance core plans such as 420 pool operations and perpetual contracts on the Ethereum main network.
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