Synthetix的Susd Stablecoin在过去一个月中的第二次发作剧集

这次，资产支持的Stablecoin下跌低于0.90美元，低约0.83美元。 Synthetix发行的SUSD Stablecoin下跌低于0.90美元，低约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在过去一个月中的第二集。这次，资产支持的Stablecoin下跌低于0.90美元，低约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发行的稳定币，相对较小，只有303m的循环供应。对于SUSD而言，这是自3月底以来的第二个DE-PEG，在过去的一个月中总共有三个De-Peg。该资产有五年的历史，危机更深，低点为0.40美元，在风险较高的稳定中排队。

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的价格水平仍然相对平坦，但是在市场波动增加后，De-Peg恢复了。当Synthetix通过鼓励SNX令牌占用来使SUSD的供应增加一倍之后，当前的活动到达。

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.

当前的SUSD稳定剂的供应约为2021年的10％，当时供应峰值高于2.94亿令牌。 Synthetix在供应量下降到最近仅1500万令牌后试图恢复Susd。当时，Stablecoin沉没至$ 0.92- $ 0.91，Synthetix不得不干预并解释De-Peg。根据Stablecoin发行人的说法，SUSD仍处于期望De-Peg的过渡期，该协议将再次稳定资产。

Synthetix aims to rebuild assets

Synthetix旨在重建资产

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的当前扩展与Synthetix 420池有关，前SNX Stakers可以存入更多令牌并获得被动收入。以前，Synthetix是一种Defi协议，交易者必须手动控制其债务，通常会导致清算。

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，单个钱包可以以SNX沉积物为750％的附带比例造成造成的，这意味着每张7.50美元的SNX铸造了一个SUSD。目前，基于所有沉积令牌的420个泳池造币厂，目的是将抵押比率降低到200％。在来年，将没有快速的机制以美元购买便士，因此有其他de-pegs的风险。

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，因为令牌主要使用其他DEX来与USDT和USDC进行交易。但是，新的铸造模型测试了Synthetix生成和保留可靠稳定的方法。

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.

每个存放在420池中的SNX所有者都将在12个月的时间内宽恕其债务。早期出口将受到罚款，因此目前的DE-PEG不会导致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.

在新池中销售SNX的用户将不得不等待预定的期限，以免以前的债务。同时，沉积的SNX用于铸造SUSD，过度额外化的比率为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的价值锁定只有7400万美元，低于2021年牛市的2B美元以上。过去一个月的SUSD供应量扩大，在黄金时代发行和使用时到达。但是，依靠加密抵押品的较小项目仍然风险更高。

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的消息后，SNX的交易价格为0.63美元，近三个月低点。 Synthetix项目坐落在RWA协议的叙述之外，并充当了提供被动收入的抵押STABLECOIN发行人。 Synthetix仍然是令牌化RWA的最活跃的发行人之一，尽管它的令牌滞后落后于Ondo和Om，这些滞后现在正在吸引大部分的思维和交易。

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.

该项目还获得了Synthetix Dao的支持，其财政部有超过3200万美元。 DAO的投资组合具有100万美元，SNX代币的$ 731K，其余的各种Stablecoins，甚至是Pepe等模因令牌。 Synthetix是最古老的协议之一，自2018年以来一直在多个市场周期中幸存下来。对于SUSD而言，风险可能是短暂的，但是协议用户可能会承受压力很大的日子，再加上一般的加密货币市场波动。