Synthetix提出了SUSD 420池以穩定其SUSD Stablecoin

加密生態系統再次處於高度警覺狀態，這次是由於Synthetix的大膽計劃。

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

加密生態系統再次處於高度戒備狀態，因為一個著名的Defi平檯面臨著穩定的挑戰。

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.

這次，聚光燈落在Synthetix及其Stablecoin Susd上，這一直在努力維持其預期的一美元釘子，從而導致用戶的擔憂和更廣泛的市場不穩定。

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.

為了解決這個問題，Synthetix團隊設計了一項大膽的計劃，涉及對其社區的直接激勵解決方案，這一舉動可能會對Defi景觀具有更廣泛的影響，因為它作為分散的協議努力爭取自我維護性。

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.

為了穩定SUSD並防止進一步的DEPEG，Synthetix團隊提出了“ Susd 420池”。該池本質上是一種放入機制，用戶可以將SUSD鎖定整整一年，以換取一年中分發的500萬個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.

此舉不僅旨在集會社區支持穩定資產，而且還旨在直接吸引Stakers，他們在維持系統的完整性和可持續性方面發揮了至關重要的作用。

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.

該提案是在“ SIP-420”的推出之後，該提案引入了結構性變化，將債務風險從Stakers轉移到協議本身。這些變化具有一些短期影響，隨著市場參與者適應了新的風險概況和對流動性提供的影響，導致二級市場波動。

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，目標是明確的：優化系統以實現長期穩定性，並吸引足夠的流動性，以抵消可能威脅到系統穩定性並最終導致級聯問題的任何失衡，例如廣泛的拆卸和DEPEG的惡性循環。

Direct Warning From the Founder

創始人的直接警告

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.

正如創始人凱恩·沃里克（Kain Warwick）本人在4月21日的一篇文章中強調的那樣，這項倡議並不是可選的。他繼續警告說，如果Stakers不對激勵措施“胡蘿蔔”做出反應，他們可能很快就會面對“棍子”，這意味著潛在的處罰或不太友好的措施將在後來宣布以實施該系統的穩定性。

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，陳述過程是手動的，並且缺乏用戶友好的界面，儘管預計將在短期內發布更簡化的解決方案。

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）確信，如果Stakers履行其角色並將其組合資源分配以恢復釘子並增強用戶信心，則情況完全可以解決。

"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.

他補充說：“如果我們無法用Stakers的總資源來恢復釘子，那麼我們注定要工作。所以讓我們開始工作。我們擁有成功所需的一切。共同完成。我們可以做到這一點。”

Stablecoin Market Growth Brings Hope

Stablecoin市場增長帶來了希望

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.

儘管Susd跌跌撞撞，但總體Stablecoin市場前景仍然積極。自2023年中期以來，其市值已超過了2000億美元，在2025年，其總交易量甚至超過了Visa和MasterCard等巨頭的交易。

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，如果有迅速而戰略性的行動，DEPEG不是死刑判決。在這兩種情況下，Stablecoins在面對其預期的美元均等差異後都設法恢復。

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.

加密社區將仔細觀察以了解這是如何發展的，因為它展示了一種分散的協議，試圖通過激勵，壓力和集體責任結合使用自我維護。