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Synthetix Approves Plan to Decommission Depegged sUSD Stablecoin

2026-06-24 12:50:01

The Synthetix community gave final approval to SIP-423, which would exchange each sUSD for four SNX tokens. Synthetix plans to freeze the sUSD contract and proceed with face-value redemptions. Distributed SNX will have a one-year lockup followed by a one-year linear vesting period.

SNX-2.27%

SUSD-4.22%

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