Synthetix founder releases the latest progress on sUSD de-pegging: With the launch of the mainnet pre-staking activity, it will ultimately restore the peg of sUSD

ChainCatcher news, Synthetix founder Kain released the latest update on the sUSD de-pegging issue. The current sUSD price is $0.990619, and it is about to regain its peg. Although this period has been harsh, the launch of the mainnet pre-staking activities will ultimately help sUSD return to normal.

Previously, on April 18, the Synthetix stablecoin sUSD de-pegged further to $0.7. Synthetix subsequently announced an emergency solution, and the USD 420 pool will be launched and incentivized. SNX stakers in the 420 pool can deposit sUSD to earn a share of 5 million SNX over 12 months. The deposited sUSD will be locked for one year and can be fully withdrawn after the activity ends.

Synthetix founder Kain commented on the emergency plan, "This is one of the worst immediate solutions to create demand for sUSD from the user base."