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Stables Labs: The USDX recovery plan has been launched, and the application registration window is now open.
On November 8th, Stables Labs stated that “Recently, due to the impact of market liquidity conditions and liquidation dynamics, the market price of USDX has deviated from its reference value. The stability mechanism of USDX is supported by collateral positions and hedging strategies, but under extreme market conditions, adjustments to these mechanisms may experience certain delays. The team has now initiated a 'recovery arrangement' aimed at providing affected holders with a recovery path referenced to a value of 1 USD, provided that resources are available. This arrangement is voluntary in nature and does not constitute any form of guarantee, redemption obligation, absorption of deposits, or collective investment product. To ensure transparency and verifiability, the following measures will be taken: · Claim registration window: The balances of affected holders will be determined through an on-chain snapshot. · Phased disclosure of recovery progress: Progress will be disclosed publicly and verifiably.”