Synthetix的Susd Stablecoin在過去一個月中的第二次發作劇集

這次，資產支持的Stablecoin下跌低於0.90美元，低約0.83美元。 Synthetix發行的SUSD Stablecoin下跌低於0.90美元，低約0.83美元。

The sUSD stablecoin by Synthetix is having its second de-pegging episode for the past month. This time, the asset-backed stablecoin fell under $0.90, with a low around $0.83.

Synthetix的Susd Stablecoin在過去一個月中的第二集。這次，資產支持的Stablecoin下跌低於0.90美元，低約0.83美元。

sUSD is a stablecoin issued by Synthetix on a relatively small scale, with only 30.3M in circulating supply. For sUSD, this is the second de-peg since the end of March, for a total of three de-pegs in the past month. The asset has a five-year history with much deeper crises and lows of $0.40, lining up among the riskier stablecoins.

SUSD是由Synthetix發行的穩定幣，相對較小，只有303m的循環供應。對於SUSD而言，這是自3月底以來的第二個DE-PEG，在過去的一個月中總共有三個De-Peg。該資產有五年的歷史，危機更深，低點為0.40美元，在風險較高的穩定中排隊。

The price levels of sUSD remained relatively flat during the 2023 bear market, but de-pegs resumed after market volatility increased. The current event arrives after Synthetix doubled the supply of sUSD in one month, by encouraging SNX token staking.

在2023年的熊市中，SUSD的價格水平仍然相對平坦，但是在市場波動增加後，De-Peg恢復了。當Synthetix通過鼓勵SNX令牌佔用來使SUSD的供應增加一倍之後，當前的活動到達。

The current supply of sUSD stablecoins is around 10% of the levels from 2021, when the supply peaked above 294M tokens. Synthetix tried to revive sUSD after the supply fell to a recent low of only 15M tokens. At that time, the stablecoin sank to lows of $0.92-$0.91 and Synthetix had to intervene and explain the de-peg. According to the stablecoin issuer, sUSD is still in a transitionary period, where de-pegs may be expected, and the protocol will work toward stabilizing the asset again.

當前的SUSD穩定劑的供應約為2021年的10％，當時供應峰值高於2.94億令牌。 Synthetix在供應量下降到最近僅1500萬令牌後試圖恢復Susd。當時，Stablecoin沉沒至$ 0.92- $ 0.91，Synthetix不得不干預並解釋De-Peg。根據Stablecoin發行人的說法，SUSD仍處於期望De-Peg的過渡期，該協議將再次穩定資產。

Synthetix aims to rebuild assets

Synthetix旨在重建資產

The current expansion of sUSD is tied to the Synthetix 420 Pool, where former SNX stakers can deposit more tokens and receive passive income. Previously, Synthetix worked as a DeFi protocol, where traders had to manually control their debt, often leading to liquidations.

SUSD的當前擴展與Synthetix 420池有關，前SNX Stakers可以存入更多令牌並獲得被動收入。以前，Synthetix是一種Defi協議，交易者必須手動控制其債務，通常會導致清算。

Previously, individual wallets could mint sUSD with a collateral ratio of 750% for SNX deposits, meaning each $7.50 in SNX minted one sUSD. Currently, the 420 pool mints sUSD based on all the deposited tokens, with the intention of bringing the collateral ratio down to 200%. In the coming year, there will be no quick mechanism to buy sUSD at pennies for the dollar, hence the risk of additional de-pegs.

以前，單個錢包可以以SNX沉積物為750％的附帶比例造成造成的，這意味著每張7.50美元的SNX鑄造了一個SUSD。目前，基於所有沉積令牌的420個泳池造幣廠，目的是將抵押比率降低到200％。在來年，將沒有快速的機制以美元購買便士，因此有其他de-pegs的風險。

The effect of sUSD may be limited, as the token mostly uses other DEXs to trade against USDT and USDC. However, the new minting model tests the approach of Synthetix to generate and retain a reliable stablecoin.

SUSD的效果可能受到限制，因為令牌主要使用其他DEX來與USDT和USDC進行交易。但是，新的鑄造模型測試了Synthetix生成和保留可靠穩定的方法。

Every SNX owner that deposits into the 420 pool will have their debt forgiven over a 12-month period. Early exits will incur a penalty, so the current de-peg will not lead to an outflow of SNX staking.

每個存放在420池中的SNX所有者都將在12個月的時間內寬恕其債務。早期出口將受到罰款，因此目前的DE-PEG不會導致SNX的流出。

Users who stake SNX in the new pool will have to wait for a predetermined period to have their previous debt waived. In the meantime, the deposited SNX is used to mint sUSD, with a 500% over-collateralization ratio.

在新池中銷售SNX的用戶將不得不等待預定的期限，以免以前的債務。同時，沉積的SNX用於鑄造SUSD，過度額外化的比率為500％。

Currently, Synthetix has only regained $74M in value locked, down from over $2B during the 2021 bull market. The expanded supply of sUSD in the past month arrives during a golden age for stablecoin issuance and usage. However, smaller projects relying on crypto collaterals remain riskier.

目前，Synthetix的價值鎖定只有7400萬美元，低於2021年牛市的2B美元以上。過去一個月的SUSD供應量擴大，在黃金時代發行和使用時到達。但是，依靠加密抵押品的較小項目仍然風險更高。

After the news of the de-peg, SNX traded at $0.63, near a three-month low. The Synthetix project sits outside the narrative of RWA protocols, and operates as a collateralized stablecoin issuer offering passive income. Synthetix remains one of the most active issuers for tokenized RWA, though its token lags behind ONDO and OM, which are now taking the bulk of mindshare and trading.

在De-Peg的消息後，SNX的交易價格為0.63美元，近三個月低點。 Synthetix項目坐落在RWA協議的敘述之外，並充當了提供被動收入的抵押STABLECOIN發行人。 Synthetix仍然是令牌化RWA的最活躍的發行人之一，儘管它的令牌滯後落後於Ondo和Om，這些滯後現在正在吸引大部分的思維和交易。

The project also has support from the Synthetix DAO, with over $32M in its treasury. The DAO carries a diverse portfolio with 1M USDC, $731K in SNX tokens, and the remainder in various stablecoins and even meme tokens like PEPE. Synthetix is one of the oldest protocols, having survived multiple market cycles since 2018. For sUSD, the risk may be short-lived, but the protocol users may have stressful days ahead, combined with the general crypto market volatility.

該項目還獲得了Synthetix Dao的支持，其財政部有超過3200萬美元。 DAO的投資組合具有100萬美元，SNX代幣的$ 731K，其餘的各種Stablecoins，甚至是Pepe等模因令牌。 Synthetix是最古老的協議之一，自2018年以來一直在多個市場週期中倖存下來。對於SUSD而言，風險可能是短暫的，但是協議用戶可能會承受壓力很大的日子，再加上一般的加密貨幣市場波動。