SNX (SNX)

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Publications X

  • 2Lambroz 🐑 (🧑‍🍳🥩🤌) DeFi_Expert Trader C
     31.79K  @2lambro
    2Lambroz 🐑 (🧑‍🍳🥩🤌) DeFi_Expert Trader C
     31.79K  @2lambro

    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.

     10  2  2.21K
    Lire l'original >
    Tendance de SNX après le lancement
     Haussier
    SNX will generate about 187 million new tokens due to sUSD redemption, with limited short‑term dilution, worth watching.
  • The Defiant Media Influencer D
     363.44K  @DefiantNews

    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

    The Defiant Media Influencer D
     363.44K  @DefiantNews

    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

     18  2  5.64K
    Lire l'original >
    Tendance de SNX après le lancement
     Haussier
    SNX will receive a 4:1 conversion from sUSD, boosting holding value
  • Cilinix Technical_Analysis B
     5.46K  @cilinixcrypto

    No way this is true right? $SNX will die 100%

    Markets Alpha D
     2.17K  @MarketsAlpha

    Kain (@kaiynne), the founder of Synthetix $SNX, a project that reached an ATH market cap of roughly $3B a few years ago, just announced the approval of a proposal to deprecate sUSD, Synthetix’s stablecoin. https://t.co/yiF4ZN354o This comes after a sustained depeg that began in March 2025, and only months after Synthetix said sUSD would remain its foundational stablecoin and targeted restored peg stability by the end of Q2 2026. sUSD holders will be compensated with 4 $SNX for each sUSD, which is around $0.94 at current prices, without taking into account SNX liquidity. Since sUSD circulating supply is 69.8M units, this proposal could mint up to an additional 279.4M new $SNX ($65.4M at current prices), with a 1-year lockup + 1-year vesting. For context, the current $SNX market cap is $81M and this proposal could increase total SNX supply by more than 80%.

     1  0  1.43K
    Lire l'original >
    Tendance de SNX après le lancement
     Extrêmement baissier
    Synthetix proposes to issue additional SNX to compensate sUSD holders, which could increase SNX supply by about 80% and spark fears of the token price collapsing to zero.
  • VietnamPenguin Derivatives_Expert OnChain_Analyst S
     3.82K  @VietnamPenguin

    BTW, Synthetix raised ~$65M across 7 rounds. Infinex sold ~63% of its token supply for ~$72M through direct sales, vouchers, patron rounds and whatever other packaging was needed. Today, almost every investor is underwater (including $INX + $SNX secondary market buyers). Maybe the real product was fundraising all along.

    Markets Alpha D
     2.17K  @MarketsAlpha

    Kain (@kaiynne), the founder of Synthetix $SNX, a project that reached an ATH market cap of roughly $3B a few years ago, just announced the approval of a proposal to deprecate sUSD, Synthetix’s stablecoin. https://t.co/yiF4ZN354o This comes after a sustained depeg that began in March 2025, and only months after Synthetix said sUSD would remain its foundational stablecoin and targeted restored peg stability by the end of Q2 2026. sUSD holders will be compensated with 4 $SNX for each sUSD, which is around $0.94 at current prices, without taking into account SNX liquidity. Since sUSD circulating supply is 69.8M units, this proposal could mint up to an additional 279.4M new $SNX ($65.4M at current prices), with a 1-year lockup + 1-year vesting. For context, the current $SNX market cap is $81M and this proposal could increase total SNX supply by more than 80%.

     50  3  8.68K
    Lire l'original >
    Tendance de SNX après le lancement
     Extrêmement baissier
    The deprecation of sUSD by Synthetix will mint more than 80% additional SNX, creating massive dilution pressure on SNX price and sharply reducing project revenue.
  • Ericonomic OnChain_Analyst Trader B
     73.00K  @ericonomic
    Markets Alpha D
     2.17K  @MarketsAlpha

    Kain (@kaiynne), the founder of Synthetix $SNX, a project that reached an ATH market cap of roughly $3B a few years ago, just announced the approval of a proposal to deprecate sUSD, Synthetix’s stablecoin. https://t.co/yiF4ZN354o This comes after a sustained depeg that began in March 2025, and only months after Synthetix said sUSD would remain its foundational stablecoin and targeted restored peg stability by the end of Q2 2026. sUSD holders will be compensated with 4 $SNX for each sUSD, which is around $0.94 at current prices, without taking into account SNX liquidity. Since sUSD circulating supply is 69.8M units, this proposal could mint up to an additional 279.4M new $SNX ($65.4M at current prices), with a 1-year lockup + 1-year vesting. For context, the current $SNX market cap is $81M and this proposal could increase total SNX supply by more than 80%.

     117  14  32.44K
    Lire l'original >
    Tendance de SNX après le lancement
     Extrêmement baissier
    Synthetix will deprecate sUSD and issue over 80% additional SNX as compensation, constituting a major bearish factor for SNX.
  • Eldar FA_Analyst DeFi_Expert A
     2.17K  @eldarcap

    A least some recognition that there was a death spiral risk with endogenous collateral for $sUSD. But not sure exactly How 420 saved it from it or actually played any good part in anything. The design was even worse for sUSD and don’t know what it really did for ethereum:0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f. While I admire the grit, I think there is a very low chance that @synthetix ever become relevant again in perp Space in the face of @Lighter_xyz and @HyperliquidX. $SNX is still way overvalued at current state of things.

    kain.inx Founder DeFi_Expert C
     144.51K  @kaiynne

    There is no good news here, the implementation of the 420-pool very likely saved the protocol from a death spiral at the cost of the sUSD peg. But sUSD is the responsibility of SNX holders so sUSD holders will be made whole with SNX.

     1  0  575
    Lire l'original >
    Tendance de SNX après le lancement
     Baissier
    SNX is overvalued, outlook bleak, sUSD risk remains.
  • katexbt.hl Trader Influencer B
     30.01K  @katexbt

    bear markets are great for admitting things that went wrong but not using your the money siphoned out on fixing them classic /ct/ https://t.co/vAhxqxcAmp

     8  4  1.66K
    Lire l'original >
    Tendance de SNX après le lancement
     Baissier
    Bear market issues are not being solved effectively; sUSD will be deprecated a year after decoupling and redeemed with SNX. While Synthetix regains confidence, the market remains skeptical.
  • kain.inx Founder DeFi_Expert C
     144.51K  @kaiynne

    What is happening with sUSD? SIP-423 thread. It has been depegged for over a year. The only solution is deprecating it. The original SNX backed sUSD will be wound down, and sUSD will be redeemed for SNX 4:1 (a slight premium to par) with a lock up.

     114  24  43.56K
    Lire l'original >
    Tendance de SNX après le lancement
     Haussier
    sUSD will be swapped for SNX at a 4:1 ratio upon delisting, holders can redeem at 0.25.
  • 토큰포스트 - TokenPost Korea Media Influencer D
     5.73K  @tokenpostkr

    Synthetix governance passes the phased discontinuation proposal for sUSD https://t.co/4YCqQ2Prqj https://t.co/eerB5AIjHS

     0  0  126
    Lire l'original >
    Tendance de SNX après le lancement
     Neutre
    Synthetix governance gradually abolishes the proposal via sUSD.
  • 吴说区块链 Media Educator D
     177.62K  @wublockchain12

    According to The Defiant, Synthetix governance has proposed SIP‑423, which aims to fully retire the stablecoin sUSD, freeze and deprecate its contracts, and compensate holders at a rate of 4 SNX per 1 sUSD. The proposal was put forward by Synthetix founder Kain Warwick and core contributor Benjamin Celermajer, with SNX subject to a one‑year lock‑up and then linearly unlocked over the following year. sUSD is currently severely depegged, trading around $0.25, far below its $1 target price. https://t.co/PdqT44xlqn

     1  1  3.71K
    Lire l'original >
    Tendance de SNX après le lancement
     Baissier
    sUSD depegs to $0.25, SIP‑423 will retire and exchange at a 4:1 rate for SNX