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- 🔥Post & Earn Passive Income! Gate Square’s "Content Mining" Channel is Now Open!🔥
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- #Gate Ranks Top 4 Exchange#
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- 🎉 CandyDrop 5.0: 5 BTC Mega Airdrop is here!
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- Gate Alpha 2nd Points Carnival Round 4 Hot Launch! Trade to Share $30,000 MORE & Alpha Points
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- 📢 $MORE is launching on Gate Alpha!
Users will be able to trade Moonveil ( $MORE ) directly via Gate Alpha — Gate's one-stop on-chain trading portal.
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Synthetix stablecoin sUSD has fully returned to its peg.
BlockBeats News, on April 23, Synthetix founder Kain.eth posted that the stablecoin sUSD launched by Synthetix has fully returned to the peg. As of press time, sUSD is quoted at $1.05. Kain.eth summarized the re-anchoring process and said that Synthetix's debt pool design and staking incentive mechanism have been the biggest historical drivers of the protocol's growth, but it has also been one of the main headwinds. Implicit debt, inflation, and market shocks nearly led to the collapse of the agreement. The 420 pool buys time for the protocol to be restructured and refactored, and pooled staking will reduce complexity and free up a new batch of stakers. The recalibrated incentive framework will restore the peg exchange rate and rebuild confidence.