Synthetix提出了SUSD 420池以稳定其SUSD Stablecoin

加密生态系统再次处于高度警觉状态，这次是由于Synthetix的大胆计划。

The crypto ecosystem is once again on high alert as a prominent DeFi platform faces a pressing challenge with its stablecoin.

加密生态系统再次处于高度戒备状态，因为一个著名的Defi平台面临着稳定的挑战。

This time, the spotlight falls on Synthetix and its stablecoin sUSD, which has been struggling to maintain its intended one-dollar peg, leading to concerns among users and broader market instability.

这次，聚光灯落在Synthetix及其Stablecoin Susd上，这一直在努力维持其预期的一美元钉子，从而导致用户的担忧和更广泛的市场不稳定。

To counter this issue, the Synthetix team has devised a bold initiative that involves a direct incentive-based solution for its community—a move that could have broader implications for the DeFi landscape as decentralized protocols strive for self-sustainability.

为了解决这个问题，Synthetix团队设计了一项大胆的计划，涉及对其社区的直接激励解决方案，这一举动可能会对Defi景观具有更广泛的影响，因为它作为分散的协议努力争取自我维护性。

To stabilize sUSD and prevent further depeg, the Synthetix team has proposed a "sUSD 420 Pool." This pool essentially serves as a staking mechanism where users can lock up sUSD for a full year in exchange for a slice of five million SNX tokens being distributed over the course of the year.

为了稳定SUSD并防止进一步的DEPEG，Synthetix团队提出了“ Susd 420池”。该池本质上是一种放入机制，用户可以将SUSD锁定整整一年，以换取一年中分发的500万个SNX令牌。

This move aims not only to rally community support for stabilizing the asset but also to directly engage stakers, who play a crucial role in maintaining the system's integrity and sustainability.

此举不仅旨在集会社区支持稳定资产，而且还旨在直接吸引Stakers，他们在维持系统的完整性和可持续性方面发挥了至关重要的作用。

This proposal follows the rollout of "SIP-420," which introduced structural changes that shifted debt risk away from stakers and onto the protocol itself. These changes had some short-term implications, leading to secondary market volatility as market participants adjusted to the new risk profiles and implications for liquidity provision.

该提案是在“ SIP-420”的推出之后，该提案引入了结构性变化，将债务风险从Stakers转移到协议本身。这些变化具有一些短期影响，随着市场参与者适应了新的风险概况和对流动性提供的影响，导致二级市场波动。

However, the goal was clear: to optimize the system for long-term stability and attract sufficient liquidity to counterbalance any imbalances that could threaten the system's stability and ultimately lead to cascading issues, such as widespread unstaking and a vicious cycle of depeg.

但是，目标是明确的：优化系统以实现长期稳定性，并吸引足够的流动性，以抵消可能威胁到系统稳定性并最终导致级联问题的任何失衡，例如广泛的拆卸和DEPEG的恶性循环。

Direct Warning From the Founder

创始人的直接警告

As the founder, Kain Warwick, himself highlighted in an April 21 post, this initiative isn't meant to be optional. He went on to warn that if stakers don't respond to the incentive, "the carrot," they might soon face "the stick," meaning potential penalties or less-friendly measures to be announced later to enforce the system's stability.

正如创始人凯恩·沃里克（Kain Warwick）本人在4月21日的一篇文章中强调的那样，这项倡议并不是可选的。他继续警告说，如果Stakers不对激励措施“胡萝卜”做出反应，他们可能很快就会面对“棍子”，这意味着潜在的处罚或不太友好的措施将在后来宣布以实施该系统的稳定性。

Currently, the staking process is manual and lacks a user-friendly interface, although a more streamlined solution is expected to be announced shortly.

目前，陈述过程是手动的，并且缺乏用户友好的界面，尽管预计将在短期内发布更简化的解决方案。

Warwick is confident that the situation is entirely solvable if stakers fulfill their role and allocate their combined resources to restoring the peg and strengthening user confidence.

沃里克（Warwick）确信，如果Stakers履行其角色并将其组合资源分配以恢复钉子并增强用户信心，则情况完全可以解决。

"If we can't manage to restore the peg with the combined resources of stakers, then we're doomed anyway. So let's get to work. We have everything we need to succeed. Together, we can do this," he added.

他补充说：“如果我们无法用Stakers的总资源来恢复钉子，那么我们注定要工作。所以让我们开始工作。我们拥有成功所需的一切。共同完成。我们可以做到这一点。”

Stablecoin Market Growth Brings Hope

Stablecoin市场增长带来了希望

Despite sUSD's stumble, the overall stablecoin market outlook remains positive. Since mid-2023, its market cap has surpassed $200 billion, and in 2025 its total transaction volumes have even exceeded those of giants like Visa and Mastercard.

尽管Susd跌跌撞撞，但总体Stablecoin市场前景仍然积极。自2023年中期以来，其市值已超过了2000亿美元，在2025年，其总交易量甚至超过了Visa和MasterCard等巨头的交易。

Previous cases like USDC and TUSD have shown that a depeg isn't a death sentence, provided there's swift and strategic action. In both instances, the stablecoins managed to recover after facing significant deviations from their intended dollar parity.

以前的案件（例如USDC和TUSD）表明，如果有迅速而战略性的行动，DEPEG不是死刑判决。在这两种情况下，Stablecoins在面对其预期的美元均等差异后都设法恢复。

The crypto community will be watching closely to see how this unfolds, as it showcases a decentralized protocol attempting to self-sustain itself through a combination of incentives, pressure, and collective responsibility.

加密社区将仔细观察以了解这是如何发展的，因为它展示了一种分散的协议，试图通过激励，压力和集体责任结合使用自我维护。