$SNX Exit pump yapsa da vedalaşsak https://t.co/1vQ0bjPl1y

$SNX Exit pump yapsa da vedalaşsak https://t.co/1vQ0bjPl1y
prob best way to retire $sUSD at 0.25 already
SIP-423 lets sUSD holders redeem at $1 par value
paid in newly minted $SNX tokens (4 SNX per $1 sUSD with some lock up).
46.7M sUSD × 4 = 187M new SNX on a 345M supply.
~52M of those will eventually hit the real float (~29% increase).
low perps fees last 7 days, low buyback pressure absorbing the dilution...?
Governance vote June 26.
A follow-up to this story earlier today:
In a detailed thread, @kaiynne takes the full blame for the "mismanagement" that led to the sUSD depeg.
More here:
https://t.co/8f0hmwUQBE
Synthetix governance votes to retire sUSD stablecoin entirely under SIP-423, converting all holdings to vested SNX at a 4:1 ratio. Technical implementation SIP-424 pending.
Read more here:
https://t.co/xJmMJwlTNM