Synthetix Launches Daily sUSD Buyback Program with a Maximum Limit of $1 Million

According to official news, Synthetix announced the launch of a daily cap of $1 million sUSD market buyback plan to address the recent situation where the sUSD price fell to $0.93. This plan will be conducted through open market operations, aiming to support market forces and restore the peg of sUSD to the US dollar. Previously, Synthetix had introduced several measures, including the Infinex reward program and the sUSD staking plan of the 420 Pool, the latter of which currently offers an annual yield of 72% and requires participants to maintain a 10% sUSD staking ratio. These measures have initially stabilized the sUSD price.