Solstice: USX is not an algorithmic stablecoin, eUSX and YieldVault are unaffected
According to Odaily, Solstice posted an update on the USX depegging incident on the Solana chain via X platform. The update stated that after experiencing volatility, USX is recovering, liquidity has been injected, and collateral is sufficient and undamaged. USX is neither an algorithmic stablecoin nor a rebasing token. Previously, selling pressure from Orca and Raydium exceeded available liquidity, causing the secondary market price to drop. Solstice will continue to add liquidity as needed to ensure stability in the secondary market. eUSX and YieldVault are not affected. Assets under Solstice's custody remain unaffected and the collateralization ratio exceeds 100%. A third party has been requested to immediately issue a certification report for further verification.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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