First reported June 23, 2026 by The Defiant · covered by 2 sources
Synthetix governance has moved to retire sUSD entirely under SIP-423, introduced June 12. The proposal would freeze the stablecoin contract and pay all holders back at face value in vested SNX at a conversion of four SNX per sUSD. A companion SIP-424 covering technical implementation is pending.
The retirement of sUSD and compensation in SNX may enhance Synthetix's focus on perpetual futures, potentially attracting new investments. The post Synthetix governance votes to retire sUSD, pay holders in SNX tokens appeared first on Crypto Briefing .
