Participants in the South Korean Association of Digital Asset Exchange Alliance (DAXA) explained that a measure is needed to protect investors from losses caused by unpredictable volatility and instability of the Synthetix (SNX) ecosystem.
Representatives of UPBIT and BITHUMB reported that Synthetix USD (SUSD) synthetic stabilcoin has lost a binding to the US dollar on April 10, Having descended up to a five -year minimum of $ 0.86. The internal tokens of the SNX ecosystem, used as a collateral asset for the release of SUSD, was also under the blow, which led to a drop in its initial cost by 21%.
In accordance with the Rules of the DAXA association, South Korean exchanges temporarily stopped receiving deposits and added the status of “investment warning” to the SNX. The UPBIT and BITHUMB teams clarified that the decision to deliste Synthetix assets or the resumption of work will be made after extraordinary checks.
Previously, co -founder of the Cork Protocol risks of risks Rob Schmitt (Rob Schmitt) warnedthat the design of SUSD stablecoin has a very high resemblance to Terrausd (UST) of Terra, which collapsed in 2022.
In early April, the FDUSD of FDUSD FIRST Digital Trust (FDT) also temporarily lost the binding to the US dollar, falling by 5% after the statements of the founder of Tron Justin Sun (Justin Sun) about the insolvency of this issuer. FDT accused Sana’s slander.
Source: Bits
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