Synthetix Urges Stakers to Take Action Over ‘sUSD Crisis,’

Synthetix founder Kain Warwick has issued a stern ultimatum to SNX stakers urging them to participate in the new sUSD staking mechanism or face consequences. The call to action comes after weeks-long efforts to stabilize the crypto-collateralized stablecoin which plummeted as low as $0.68 on April 18, significantly below its target value of $1. The new sUSD 420 Pool was launched on April 18th in an attempt to stabilize the coin by encouraging users to lock up their sUSD for a year in exchange for a share of 5 million SNX tokens distributed over 12 months. `, 5 million SNX tokens.