Synthetix founder threatens SNX stakers with ‘the stick’ to fix SUSD depeg

A Synthetix spokesperson told Cointelegraph on April 18 that sUSD’s volatility was driven by “structural shifts” after the SIP-420 launch.

Synthetix founder Kain Warwick has threatened SNX stakers with “the stick” if they don’t take up a newly launched staking mechanism to help fix the protocol’s ongoing sUSD (SUSD) depeg.

Warwick said in an April 21 post to X that it has now implemented a sUSD staking mechanism to address the depeg, but admitted it is currently “very manual” without a proper user interface. 

However, once the UI goes live, Warwick said, if there isn’t enough momentum, then they may have to “ratchet up the pressure” on the stakers in the sUSD 420 pool.

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