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Synthetix Founder: Restoring normalcy by the end of the month, will launch Mainnet deposit feature.
The founder of the Synthetix project recently released an exciting message on social media. He stated that despite facing numerous challenges in recent times, the situation is improving. He expects that by the end of this month, the project will fully resume normal operations and plans to launch the Mainnet pre-deposit feature, which will help the project get back on track.
Previously, Synthetix introduced a shared debt pool mechanism during the implementation of the SIP-420 proposal, leading to a severe de-pegging of its stablecoin sUSD, which at one point dropped to a low of $0.73. This de-pegging incident put considerable pressure on the project, but according to the latest statements from the founder, the project team has taken effective measures and is gradually addressing this issue.
The founder's remarks undoubtedly injected a strong dose of confidence into the market, demonstrating the team's determination to overcome the current difficulties and rebuild market confidence. With the upcoming launch of the Mainnet deposit activity, investors and community members are closely watching Synthetix's next developments, hoping to see sUSD return to its designed peg price.