sUSD struggles to regain $1 peg as Synthetix deploys recovery measures post SIP-420

Synthetix’s algorithmic stablecoin sUSD is continuing to drift from its $1 peg, currently trading at $0.90. The depeging began in March, with sUSD briefly slipping below $1, but the situation worsened after the implementation of SIP-420—a governance proposal aimed at…