24h Change-6.14%
All Time HighFeb 18, 2020$2.45
All Time LowMar 18, 2020$0.43
Market Cap$20.01m
Fully Diluted Valuation$20.01m
Circ. Supply32.87m SUSD
CEX Volume$0
DEX Volume$92,881
Risk-management actions published about SUSD by tracked risk managers and governance contributors, newest first.
sUSD deprecation supported on Aave V3 Optimism due to diminished peg stability after Synthetix pool 420 changes, increasing bad debt vulnerability as liquidity fades.
Synthetix's sUSD stablecoin has depegged to $0.89 with $50-60M outstanding against a $30M treasury, sparking bailout talks to switch to USDS; the proposal was withdrawn with confidence in natural peg restoration as in past events.
sUSD has suffered severe peg deviation, eroding user confidence and heightening risks. The introduction of Synthetix’s Pool 420 has fundamentally altered collateral dynamics, compounding these issues and necessitating reduced exposure to limit systemic risk.
Risk parameter adjustment for sUSD supports setting E-Mode LTV to 0% to prevent new exposure amid ongoing concerns.
sUSD's secondary market price remains 2% below peg despite DEX liquidity recovery, with increased volatility and no signs of rebound, indicating a fundamental market shift and liquidity concentration risks. This prompts safety measures to limit USD exposure on Aave Optimism, including deprecating Stablecoins E-Mode by setting its LTV to 0 to block new borrows while allowing existing positions to be topped up.
Gauntlet's analysis for Aave V3 Optimism recommends a minor increase in sUSD's liquidation bonus to better optimize insolvencies, liquidations, and borrow usage, drawing from current market data and borrower position aggregates.
Recent market events and liquidity contraction have heightened volatility risks for sUSD, prompting a disable of borrowing to reduce exposure while allowing deposits.
Current market volatility combined with Aave V2's lack of advanced risk controls like supply caps and isolation mode heightens exposure risks for sUSD, prompting a temporary freeze to derisk the protocol ahead of V3 migration.
SUSD's inclusion in the broader option is based on stablecoin liquidity and utilization data from V2, though collateral remains disabled to match prior risk settings.
sUSD serves as the primary stablecoin for minting debt shares, with atomic swaps increasing volume in sUSD pools on Curve but exposing stakers to unhedged changes in total debt value if synth prices fluctuate relative to sUSD. Governance monitors parameters like target C-ratios to ensure liquidity without insolvency, supported by simulations from Gauntlet.
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Showing 10 of 16 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSUSD-SUSDE | $1.34m | 0.37% | 0.14% | 0.36% | |||||
| open in new tabSUSD-SUSDEConvex | $1.25m | 0.38% | 0.39% | ||||||
| open in new tabSUSD-SNX1% | $991,721 | 10.75% | 10.75% | 19.65% | |||||
| open in new tabUSDC-SUSDstable - 0.05% | $266,598 | 26.11% | 26.11% | 27.08% | |||||
| open in new tabUSDC-SUSDVelodrome | $158,561 | 26.47% | 27.80% | ||||||
| open in new tabSUSD-WETH | $116,996 | 4.24% | 4.24% | 8.35% | |||||
| open in new tabSUSD-WETH0.3% | $100,683 | 11.24% | 11.24% | 23.20% | |||||
| open in new tabSUSD-SUSDECurve | $25,906 | 0.57% | 0.17% | 0.37% | |||||
| open in new tabSUSD | $21,288 | 2.28% | 2.28% | 2.28% | |||||
| open in new tabUSDC-SUSD | $18,130 | 29.59% | 29.59% | 30.92% |
