Synthetix has announced the "sUSD Off Peg" emergency solution, with sUSD rebounding to $0.83.

BlockBeats News, April 18th, Synthetix announced an emergency solution for its "sUSD Stablecoin Off-Peg" issue. The USD 420 Pool will launch in 36 hours and provide incentives. SNX collateralizers in the 420 Pool can deposit sUSD to receive a share of 5 million SNX rewards over 12 months. The deposited sUSD will be locked for one year and can be fully withdrawn after the end of the event. The received SNX rewards will also be locked and will unlock within 3 months after the event ends.

Synthetix founder Kain commented on the emergency solution, stating, "This is one of the worst instant solutions used to create demand for sUSD from the user base."

According to market data, this morning Synthetix's stablecoin sUSD off-peg intensified to $0.7, a 13.9% decrease in 24 hours, and has now recovered to $0.83.